M&A Deal Summary

Veritas Capital Acquires Candescent

On September 6, 2024, private equity firm Veritas Capital acquired software company Candescent from NCR Voyix for 2.5B USD

Acquisition Highlights
  • This is Veritas Capital’s 4th transaction in the Software sector.
  • This is Veritas Capital’s 6th largest (disclosed) transaction.
  • This is Veritas Capital’s 40th transaction in the United States.
  • This is Veritas Capital’s 3rd transaction in Georgia.

M&A Deal Summary

Date 2024-09-06
Target Candescent
Sector Software
Buyer(s) Veritas Capital
Sellers(s) NCR Voyix
Deal Type Divestiture
Deal Value 2.5B USD

Target

Candescent

Atlanta, Georgia, United States
Candescent is a provider of digital banking software to banks and credit unions. The Company’s software solutions facilitate customer-facing, online and mobile banking interactions for an installed base of over 1,300 financial institution customers, serving over 20 million active users. Candescent is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York, New York.


DEAL STATS #
Overall 41 of 42
Sector: Software M&A 4 of 4
Type: Divestiture M&A Deals 19 of 19
State: Georgia M&A 3 of 3
Country: United States M&A 40 of 41
Year: 2024 M&A 1 of 1
Size (of disclosed) 6 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-17 OnSolve

Alpharetta, Georgia, United States

OnSolve delivers critical event management capabilities backed by unmatched industry expertise, which keeps our customers safe, informed, assured, and productive during a crisis. As a critical event management provider for enterprises, SMB organizations, and government entities, OnSolve provides a SaaS-based global platform that delivers risk intelligence, critical communications, incident management, and centralized control to help organizations mitigate risk and strengthen organizational resilience. OnSolve is based in Alpharetta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-30 Anthology

Boca Raton, Florida, United States

Anthology is a provider of administrative software solutions to higher education, nonprofit organizations, and other learning industries. Anthology's product suite includes student information systems, constituent relationship management, enterprise resource planning, student and alumni engagement, retention, and compliance solutions. Anthology was founded in 1988 and is based in Boca Raton, Florida.

Sell -

Seller(S) 1

SELLER

NCR Voyix

Atlanta, Georgia, United States

Category Company
Founded 1881
Sector Information Technology
Employees14,000
Revenue 2.8B USD (2024)
DESCRIPTION
NCR's corporate headquarters in Atlanta, Georgia.
NCR's corporate headquarters in Atlanta, Georgia.

NCR Voyix is a global technology company focused on providing an ATM and POS manufacturer. The company provides products and services that enable businesses to connect, interact and transact with their customers and enhance their customer relationships by addressing consumer demand for convenience, value and individual service. NCR Voyix was founded in 1881 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 4 of 4
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 3 of 3
State: Georgia M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2024 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 LibertyX

Boston, Massachusetts, United States

LibertyX is a cryptocurrency software provider allowing customers to purchase bitcoin with cash. LibertyX developed the first bitcoin-capable ATM software in 2018, allowing cash-dispensing ATMs to also sell bitcoin after a simple software update. LibertyX was founded in 2014 and is based in Boston, Massachusetts.

Buy -