M&A Deal Summary

TA Associates and Updata Partners Acquire Numara Software

On December 15, 2005, private equity firm TA Associates and growth capital firm Updata Partners acquired software company Numara Software from Intuit for 200M USD

Acquisition Highlights
  • This is TA Associates’ 31st and Updata Partners’ 7th transaction in the Software sector.
  • This is TA Associates’ 12th and Updata Partners’ largest (disclosed) transaction.
  • This is TA Associates’ 122nd and Updata Partners’ 15th transaction in the United States.
  • This is TA Associates’ 8th and Updata Partners’ 2nd transaction in Florida.
Investment Fate
  • Numara Software was sold to a publicly-traded strategic buyer in 2012 for 300M USD.

M&A Deal Summary

Date 2005-12-15
Target Numara Software
Sector Software
Buyer(s) TA Associates
Updata Partners
Sellers(s) Intuit
Deal Type Divestiture
Deal Value 200M USD

Target

Numara Software

Tampa, Florida, United States
website
Numara Software, Inc. the former Blue Ocean Software business unit of Intuit Inc. is a provider of IT help desk and asset management software solutions to small and medium-sized businesses. The company’s core product, Track-It!, enables IT professionals to collect, assign and resolve help desk requests and audit their internal hardware and software assets.

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Buyer(S) 2

Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


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 132 of 360
Sector (Software) 31 of 85
Type (Divestiture) 2 of 9
State (Florida) 8 of 16
Country (United States) 122 of 261
Year (2005) 11 of 11
Size (of disclosed) 12 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-08 Douglas Laboratories

Pittsburgh, Pennsylvania, United States

Douglas Laboratories is a manufacturer, packager and distributor of vitamins, herbs and minerals. The company sells vitamins directly to doctors and other vitamin companies.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-13 Webhire

Lexington, Massachusetts, United States

Webhire is a provider of end-to-end recruiting solutions that help employers use the web to quickly and cost-effectively connect with job-seekers and efficiently manage the hiring process.

Sell $34M
Buyer

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $100 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 15 of 65
Sector (Software) 7 of 29
Type (Divestiture) 2 of 3
State (Florida) 2 of 3
Country (United States) 15 of 55
Year (2005) 4 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-25 The GETPAID

Parsippany, New Jersey, United States

The GETPAID Corporation is a proivder of credit, collections and dispute resolution software and solutions. Established in 1983, the GETPAID Software application is used to manage billions in past due receivables in more than 550 companies in the U.S. and abroad.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-19 e-Security

Vienna, Virginia, United States

e-Security, Inc. offers a security management platform that integrates and consolidates an enterprise's multiple security solutions to provide a comprehensive view of the entire security environment.

Sell $72M

Seller(S) 1

SELLER

Intuit

Mountain View, California, United States

website


Category Company
Founded 1983
Sector Software
Employees17,300
Revenue 12.7B USD (2022)
DESCRIPTION
Intuit's corporate headquarters in Mountain View, California.
Intuit's corporate headquarters in Mountain View, California.

Intuit is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company's flagship products and services help customers solve business and financial management problems, such as running a small business, paying bills, filing income taxes, or managing personal finances. ProSeries and Lacerte are Intuit’s tax preparation offerings for professional accountants. Intuit's products and services are available in the United States, Canada, the United Kingdom, Australia, India and Singapore. Intuit was formed in 1983 and is based in Mountain View, California.


DEAL STATS #
Overall 2 of 12
Sector (Software) 1 of 4
Type (Divestiture) 2 of 10
State (Florida) 1 of 1
Country (United States) 2 of 12
Year (2005) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-02 My Business Services

Agoura Hills, California, United States

MyCorporation.com is a provider of incorporation and related corporate services to customers on-line. MyCorporation.com's offerings enable customers to complete entity formation, trademark searches and registrations, copyright registrations, DBA registrations and appointment of agents.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-13 StepUp Commerce

San Francisco, California, United States

StepUp is a local shopping services company that helps retailers use the Internet to display their in-store products. StepUp's mission is to expose local inventory information from retailers of all sizes to consumers wherever they are browsing products online. Its patent-pending inventory extraction tools make it easy for any store to capitalize on online consumers’ growing reliance on the web for locating products to buy locally.

Buy $60M