M&A Deal Summary

Vista Equity Partners and TA Associates Acquire iCIMS

On August 15, 2018, private equity firms Vista Equity Partners and TA Associates acquired internet software and services company iCIMS from Susquehanna Growth Equity

Acquisition Highlights
  • This is Vista Equity Partners’ 29th and TA Associates’ 20th transaction in the Internet Software and Services sector.
  • This is Vista Equity Partners’ 86th and TA Associates’ 217th transaction in the United States.
  • This is Vista Equity Partners’ 1st and TA Associates’ 6th transaction in New Jersey.

M&A Deal Summary
Date 2018-08-15
Target iCIMS
Sector Internet Software and Services
Buyer(s) Vista Equity Partners
TA Associates
Sellers(s) Susquehanna Growth Equity
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Cooley (Legal)

Target

iCIMS

Holmdel, New Jersey, United States
iCIMS is a provider of cloud-based talent acquisition software to enable enterprises to attract, engage, hire and advance the best talent to build a diverse, winning workforce. iCIMS was formed in 1999 and is based in Holmdel, New Jersey.

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Buyer(S) 2

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 94 of 149
Sector (Internet Software and Services) 29 of 50
Type (Secondary Buyout) 24 of 35
State (New Jersey) 1 of 1
Country (United States) 86 of 137
Year (2018) 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-07 Alegeus

Waltham, Massachusetts, United States

Alegeus is a provider of benefits administration software, debit cards, and transaction processing solutions for consumer directed healthcare accounts, including flexible spending accounts, health reimbursement arrangements, and health savings accounts. Alegeus was formed in 2012 and is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-23 Comply

New York, New York, United States

Comply is a provider of technology solutions that help compliance organizations identify, monitor, manage and report on conflicts of interest arising from employee activities, including personal trading, gifts and entertainment, political contributions, outside business affiliations, and other code of ethics violations. Comply was founded in 2003 and is based in New York City.

Buy -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 282 of 364
Sector (Internet Software and Services) 20 of 26
Type (Secondary Buyout) 40 of 69
State (New Jersey) 6 of 9
Country (United States) 217 of 263
Year (2018) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 TCNS Clothing

New Delhi, India

TCNS Clothing designs, manufactures and sells contemporary ethnic wear, targeting women between the ages of 20 and 45. Through its four brands – W, Aurelia, Elleven and Wishful – TCNS operates across the value chain catering to women throughout India. TCNS Clothing was founded in 1972 and is based in New Delhi, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Edmunds GovTech

Northfield, New Jersey, United States

Edmunds GovTech provides fully-integrated software solutions designed specifically for local governments that are easy-to-use and feature-rich at a reasonable price. Edmunds GovTech was founded in 1972 and is based in Northfield, New Jersey.

Buy -

Seller(S) 1

SELLER

Susquehanna Growth Equity

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2006
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Susquehanna Growth Equity (SGE) is the private equity arm of The Susquehanna International Group of Companies. SGE focuses on companies that help streamline payments and related transactions. This includes SaaS, payments and transaction processing, capital markets technology, and internet/information services. SGE looks to commit $10 to $200 million in companies with at least $5 million of revenue. The Firm will consider both control and minority positions and targets opportunities across North America, Europe, and Israel. SGE was established in 2006 and is headquartered in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 18 of 33
Sector (Internet Software and Services) 7 of 14
Type (Secondary Buyout) 6 of 8
State (New Jersey) 2 of 2
Country (United States) 16 of 28
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 PerkSpot

Chicago, Illinois, United States

PerkSpot is a HR technology platform. PerkSpot's marketplace helps employees save time and money when making important purchasing decisions. With thousands of exclusive discounts from top brands, PerkSpot is a popular employee benefit and simple solution for employer-sponsored rewards and recognition programs. PerkSpot plays an important role in promoting employee financial wellness and helping employers attract, engage, and retain their talent. PerkSpot was founded in 2006 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 ProviderTrust

Nashville, Tennessee, United States

ProviderTrust is an operator of a healthcare IT company that provides screening, monitoring and verification tools to simplify healthcare compliance programs. ProviderTrust was founded in 2010 and is based in Nashville, Tennessee.

Buy -
Mergr

Product

Company

Legal