Aptos to be acquired by affiliates of Goldman Sachs’ Merchant Banking Division from Funds advised by Apax Partners

Apax

13 January 2020

Strategic capital commitment from funds managed by Goldman Sachs to fast-track Aptos’ product innovation and retailers’ digital transformation

ATLANTA — Jan. 13, 2020: Aptos today announced that funds affiliated with the Merchant Banking Division of Goldman Sachs have reached a definitive agreement to acquire the company from funds advised by Apax Partners (the “Apax Funds”). Aptos, Inc., a recognized market leader in retail technology solutions, delivers innovative, cloud-native and comprehensive omni-channel solutions to more than 1,000 retail brands in 65 countries.

Aptos to be acquired by affiliates of Goldman Sachs’ Merchant Banking Division from Funds advised by Apax Partners

The Apax Funds backed Aptos CEO Noel Goggin to spin-out the business from portfolio company, Epicor, in 2015. Since then, Aptos has thrived as an independent company having more than doubled their customer base to become one of the largest global enterprise software providers focused exclusively on retail. In addition, the Apax Funds supported Aptos on a number of strategic acquisitions which strengthened Aptos’ presence in Europe and extended its product capabilities.

“Aptos is looking forward to the next stage in our growth and maturation journey in partnering with Goldman Sachs, a group that brings a wealth of enterprise software expertise, commercial relationships and vast global resources,” said Noel Goggin, Aptos CEO and culture leader. “We are also grateful for the strong partnership and strategic support Apax has provided over the past four and a half years.”

“When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built-for-the-future innovation,” said Will Chen, Managing Director at Goldman Sachs.

“With the strength of Aptos’ executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions,” Chen said. “We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos’ preeminence to date.”

“We would like to thank Noel and his team for all they have achieved. As an independent and entrepreneurial company, Aptos has delivered on its potential by offering a comprehensive “end-to-end” platform at the forefront of the market transition to omni-channel retailing,” said Jason Wright, a Partner at Apax Partners. “We wish them continued success in the future.”

About Aptos “Engaging Customers Differently”

In an era of virtually limitless choice, sustained competitive advantage only comes to retailers who engage customers differently – by truly understanding who they are, what they want and why they buy. At Aptos, we too, believe that Engaging Customers Differently™ is critical to our success. We are committed to a deep understanding of each of our clients, to fulfilling their needs with the retail industry’s most comprehensive omnichannel solutions, and to fostering long-term relationships built on tangible value and trust. More than 1,000 retail brands rely upon our Singular Commerce™ platform to deliver every shopper a personalized, empowered and seamless experience…no matter when, where or how they shop. Learn more: www.aptos.com

Follow Aptos on Twitter @Aptos_Retail

Aptos, the Aptos logo, “Engaging Customers Differently” and “Singular Commerce” are trademarks of Aptos, Inc. All other trademarks referenced are the property of their respective owners.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Goldman Sachs Merchant Banking Division

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

Media Contacts

For Aptos, Inc.

Kristen Miller | +1 678 695 6566 | kmiller@aptos.com

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For Goldman Sachs

Leslie Shribman | +1 212 902 5400 | leslie.shribman@gs.com

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Hg Saturn Fund acquires cloud-based HR software provider P&I from Permira funds

HG Capital

Hg, Europe’s leading software investor, today announces an investment in Personal & Informatik AG (“P&I”), a leading provider of cloud-based HR software, headquartered in Germany, acquiring the holding from funds advised by Permira, the global private equity firm, for an enterprise value of €2 billion. Permira funds remain invested in P&I with a substantial minority stake. The transaction will represent the 4th investment from the Hg Saturn 1 Fund, which had its first close in early 2018 and focuses on software businesses with enterprise values of more than £1 billion. Hg managed funds will become the majority shareholder in the business.

Hg is a serial investor in the regulatory driven software space and continues to see attractive, long-term growth for leading and innovative players in the sector. P&I represents the 6th company focused on HR software in Hg’s current portfolio, alongside Visma, IRIS, Access Group, Citation Group and Allocate Software. These 6 HR software companies currently total over €14 billion of enterprise value within the wider Hg portfolio of 33 software and services companies.

The Permira funds have a long track record of successfully investing in technology companies around the world and have deployed around 10 billion in the sector since 1997. Current portfolio companies in that sector include TeamViewer, Informatica, Klarna, Genesys, LegalZoom and Allegro, amongst others.

Founded in 1968, P&I is an internationally operating, full suite provider of cloud-based HR software solutions and a driver of innovation in HR technology. P&I’s scalable subscription-based platform exhibits characteristics that resonate with Hg Saturn’s core focus, with a broad, diversified and loyal customer base, and has delivered exceptional historical operating performance, with over 10 years of consistent revenue and EBITDA growth. The company has significantly extended its R&D capabilities over the past few years, which includes the opening of a new R&D hub in Greece in 2017. As a result, P&I developed and successfully introduced an integrated Software-as-a-Service (SaaS) platform allowing HR tasks to be managed in the most modern, efficient and fastest manner, delivering strong value to its customers and a truly differentiated experience to its users. P&I’s new sales force structure has grown its customer base to more than 15,000 end customers, ranging from small- and medium-sized private businesses (SMB) to large enterprises and public sector organizations of all sizes, mainly in Germany, Switzerland and Austria (DACH region).

Justin von Simson, Managing Partner at Hg, commented:

“P&I is an exceptional business and we’ve been in the privileged position of knowing the team there for almost two decades. Since our first investment in P&I in 2013 we remain impressed by the quality and long-term vision of the business and its management team. We’re excited to partner with P&I and its team again and support them in the next phase of growth.”

Michael Biehl, Director in Hg Saturn, and Carlo Pohlhausen, Principal at Hg, said:

“HR software is a core sector for us at Hg and P&I is one of the European leaders in this field, enabling thousands of customers to simplify and automate HR tasks through its innovative cloud technology. We’re delighted to support the business on its path of becoming a true European HR cloud champion.”

Vasilios Triadis, CEO P&I, added:

“We believe that, together with our well-known partner Hg, we will be well positioned to write the next chapter of P&I’s success story. The Hg team with its extensive knowledge of P&I and the software sector is the perfect partner to back us on our future growth trajectory. At the same time we want to thank the Permira funds for their support in further strengthening our leadership position in the European HR software market. We are very happy about their continuous commitment which shows a strong confidence in our growth plans.”

Jörg Rockenhäuser, Partner and Head of DACH at Permira said:

“Following the recent listing of TeamViewer in Germany, the sale of P&I marks another successful software transaction for Permira, Europe’s leading technology investor. Over the past years, the Permira funds have supported the P&I management in expanding the business across the German-speaking region and in significantly investing in R&D and product innovation. The Permira funds continue to see huge growth potential in P&I and remain invested with a substantial minority stake.”

Stefan Dziarski, Partner at Permira, commented:

“With the launch of the new Software as a Service product, P&I has been transformed into one of the most innovative subscription-based SaaS platforms in the Human Resources segment. Today, the company is a technology leader in the HR software market and is ideally positioned for future growth in Europe.”

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K1 Sells Buildium, Category Leader in Property Management Software

K1

LOS ANGELES, December 18, 2019K1 Investment Management, LLC (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced the sale of its portfolio company, Buildium LLC (“Buildium”), category leader in SaaS real estate property management software, to RealPage, Inc. (NASDAQ: RP), a global real estate technology platform.

K1 was the first institutional investor in Buildium, partnering alongside the company’s co-founders, Michael Monteiro and Dimitris Georgakopoulos. Since K1’s initial investment, Buildium’s revenues have grown more than 10x and its customer base has more than tripled.

“We decided to partner with K1 as our first investor after their team reached out to us directly and built a relationship with our business for more than a year,” said Michael Monteiro, co-founder of Buildium. “K1’s track record in building exceptional software companies gave us confidence that they were the right partner to help Buildium reach its next stage of growth.”

With K1’s partnership, Buildium made significant investments to grow its headcount, strengthen its go-to-market efforts and expand its product portfolio. Additionally, Buildium leveraged K1’s sector specialization, sourcing capabilities and operational expertise to complete and integrate two add-on acquisitions.

“We are proud of the market-leading product and customer experience that Buildium provides to property managers worldwide and are grateful for our longstanding partnership with K1 to help realize this vision,” said Dimitris Georgakopoulos, co-founder of Buildium. “The K1 team has been a trusted partner and advisor to Buildium as it has grown into a true category leader in real estate technology.”

Additionally, K1 is an active participant and proud sponsor of Buildium’s community causes, including its team’s participation in Bike MS, an annual bike ride from Boston to Provincetown which is organized by the National Multiple Sclerosis Society to raise funds for MS treatment and awareness.

“When we first invested in Buildium in 2012, K1 saw a company with a mission-critical product and compelling fundamentals where we could help accelerate growth and solidify the company’s market leadership,” said Taylor Beaupain, Managing Partner at K1. “Since then, we have had the privilege to partner with an exceptional management team focused on delivering the best to its customers, employees, investors and community, and look forward to seeing what the team will accomplish next.”

About K1

K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 115 enterprise software companies including category leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Chrome River, Granicus, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit http://www.k1capital.com or http://www.linkedin.com/company/k1im.

SOURCE: https://www.prnewswire.com/news-releases/k1-sells-buildium-category-leader-in-property-management-software-300977270.html?tc=eml_cleartime

Viking Venture invests in workforce management company tamigo

Viking venture

Viking Venture has completed its first investment in Denmark, enabling Danish software company Tamigo accelerate further growth in Europe.

Since 2006, tamigo has combined a number of employee related tasks into one unified workforce management solution used by over 150,000 users in 18 countries, in particular within retail and hospitality. Employees can easily check in or exchange shifts, payroll automatically receives the correct data to ensure accurate salaries are paid, and management can benchmark across departments and countries.

tamigo differentiates itself among other things by functioning without the need for further adjustments when operating in different countries with different rules and regulations, something especially relevant for international chains. Customers include REMA 1000, Molton Brown, Sitcks’n’Sushi and McDonald’s.

– Large customers have complex needs but are tired of working with heavy systems. As something unique, we can provide a simple cloud solution that can handle all the complexity our customers crave. Especially after GDPR, customers have begun to seriously demand cloud-based workforce management solutions. We have the opportunity to become the dominant European player in workforce management, and with this investment we will have the opportunity to hire skilled, international employees faster to accelerate our growth, says CEO and Founder Jakob Toftgaard, emphasizing that the company consciously chose an investor who focused on the product and the real differences tamigo makes to its users.

tamigo CEO and Founder, Jakob Toftgaard

The first of several investments in Denmark

Viking Venture has invested directly into the company and bought existing shares but remains a minority investor. For the investment fund, having the first Danish company in their portfolio is an important milestone.

– We want to be the leading investor in B2B software companies with subscription solutions across the Nordic region, and there are many interesting companies in Denmark. We have invested in tamigo because we believe in the team, the product and the market. They have achieved impressive results with large European customers who all want to increase their focus on business rather than administrative tasks. The trend we are seeing in Europe means that companies need to plan more flexibly, so that they adapt their staffing as needed without losing control, says Eivind Bergsmyr, Partner in Viking Venture and chairman of tamigo.

 

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Keensight Capital enters exclusive talks with Naxicap to acquire a majority stake in Sogelink, a leading provider of Software as a Service (SaaS) solutions for infrastructure sector professionals, alongside its management

Naxicap

Paris, November, 12, 2019 Keensight Capital enters exclusive talks with Naxicap to acquire a majority stake in Sogelink, a leading provider of Software as a Service (SaaS) solutions for infrastructure sector professionals, alongside its management Keensight Capital, one of the leading private equity managers dedicated to pan-European Growth Buyout investment1, along with Naxicap, mid cap investor, today announce the signature of an exclusivity agreement with a view to buying a majority stake in the group Sogelink, a leading provider of vertical software solutions for infrastructure sector professionals. Keensight Capital will therefore be replacing Naxicap as Sogelink’s major shareholder, alongside the company’s management and employees.Founded in 2000, Sogelink designs, develops and markets software and SaaS (Software as a Service) solutions intended to simplify and optimise complex business processes in the building site, infrastructure and property management industry. With its unique collaborative platform, Sogelink stands as a pioneer and undisputed leader in its market in France. It is also the number one provider of topographic software. Over the past 20 years, Sogelink and its 180 employees have built up a diverse and loyal base of 18,000 clients (churn of less than 2% p.a.), representing more than 80,000 users. In 2018, Sogelink generated revenue of €38 million and has been recording top-line growth of over 20% p.a. over the last 10 years. Its robust business model ensures increasingly recurrent revenue and a high level of profitability.

Keensight Capital will be putting its 20 years of cutting-edge expertise in IT and its experience in international markets to use in helping Sogelink to:‐cement its position as an independent leader in the markets currently addressed;‐provide support in developing and diversifying Sogelink’s product range, notably by marketing new business-specific solutions; and‐conduct acquisitions growth transactions to extend the group’s international footprint and bolster certain areas of expertise.Fatima Berral, CEO of Sogelink, says:“We are convinced that Keensight’s support and extensive expertise, particularly in vertical software, will be a tremendous asset to enable us to pursue our development strategy in France and abroad. The Keensight team’s philosophy is perfectly aligned with ours, so I am delighted with this partnership.”Jean-Michel Beghin, Managing Partner of Keensight Capital, comments:“We have known Sogelink for a long time and it fits our investment criteria perfectly: strong growth, profitability, leader in a market enjoying structural growth. We are impressed by the work accomplished by Fatima, Ignace and Sogelink’s teams in recent years and the coherent manner with which they have developed the group’s diverse business activities. We are convinced of the growth potential harboured by the company, both in its domestic market and abroad.

”Angèle Faugier, Managing Partner at Naxicap, says:“We are proud to have been able to support the Sogelink team over the past 3 years. During this stage, with the founder, we decided to entrust the role of CEO to Fatima Berral, whose action was decisive in ensuring the very sustained pace of development, integrating new talents and giving a new dimension to the group. In addition, the platform has been configured to accommodate new services and developments internally or externally; these elements have motivated our desire to re-include ourselves very significantly in the new round table.”About Naxicap Partners:As one of the top private equity firms in France, Naxicap Partners –an affiliate of Natixis Investment Managers* –has €3.1billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt. For more information, visitwww.naxicap.fr/en

About Natixis Investment Managers:

Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of more than 20 specialized investment managers globally, we apply Active Thinking® to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis Investment Managers ranks among the world’s largest asset management firms1with more than $1 trillion assets under management2(€921billion).Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms include AEW; Alliance Entreprendre; AlphaSimplex Group; Darius Capital Partners; DNCA Investments;3Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; H2O Asset Management; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners;4Vaughan Nelson Investment Management; Vega Investment Managers;5and WCM Investment Management. Investment solutions are also offered through Natixis Advisors and Dynamic Solutions. Not all offerings available in all jurisdictions.

For additional information, please visit Natixis Investment Managers’ website at im.natixis.com| LinkedIn: linkedin.com/company/natixis-investment-managers.Natixis Investment Managers’ distribution and service groupsinclude Natixis Distribution, L.P., a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, and Natixis Investment ManagersS.A. (Luxembourg) and its affiliated distribution entities in Europe and Asia.1 Cerulli Quantitative Update: Global Markets 2019 ranked Natixis Investment Managers as the 17th largest asset manager in the world based on assets under management as of December 31, 2018.2 Net asset value as of September30, 2019 is $1.022 billion. Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.3 A brand of DNCA Finance.4 Not yet licensed –currently pending authorization process as a portfolio management company with the French Autorité des marchés financiers (the “AMF”).5 A wholly-owned subsidiary of Natixis Wealth Management.

About Sogelink:

Founded in 2000, by Ignace Vantorre, Sogelink provides software, cloud and mobile solutions for all players in the infrastructure, construction and property management ecosystem. All of its solutions are supported by a technological services platform, notably when it comes to exchanging very large flows of data. With some 18,000 clients and more than 80,000 users, Sogelink aims to become the un rivalled expert in the collaborative, digital and smart management of data in 2D/3D/4D across its ecosystem.www.sogelink.fr

About Keensight Capital:

Keensight Capital, one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For 20 years, Keensight Capital’s team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €15 million to €250 million. Drawing on its expertise in the IT and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision.

www.keensightcapital.com

Press contacts:NaxicapPartners

Valérie SAMMUT -Tél: 04 72 10 87 99 valerie.sammut@naxicap.frKeesightcapital

Anne de Bonnefon -Tél: +33 1 83 79 87 37abonnefon@keensightcapital.com

Citigate Dewe Rogerson Alienor Miens–Tél: +33 6 64 32 81 75alienor.miens@citigatedewerogerson.com

Alexandre Dechaux–Tél: +33 7 62 72 71 15alexandre.dechaux@citigatedewerogerson.com

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Tenzinger acquires Unit4’s stake in ECD Cura

Fortino Capital

Tenzinger acquires ECD Cura from Unit4 as per 1 November 2019. With this takeover, Tenzinger, mother company of amongst others Medicore and Cure4, broadens its scope for the support of challenges within the healthcare sector with smart ICT solutions.

Size boosts innovativeness
“This acquisition is key for both parties”, states Boris Hololtcheff, CEO at Tenzinger. “For Tenzinger it is translated in a boost for the further development of our products and services. It also enables us to further expand our position as supplier of healthcare information systems to the fields of disabled care, homecare and dental care”.

Olav van de Reijken, general manager healthcare at Unit4 Cura, adds: “The added value for Unit4, of which Cura is a component, is that it can entrust Cura’s care activities to a party with its undivided focus on healthcare. Our clients expressly feel the need for a partner with an eye for both healthcare as well as innovative strength. The cooperation with Tenzinger offers solid perspectives for the joint development and enhancement of our digital strategy. It feels good to see Cura join forces with an organisation supporting the healthcare field.”

Healthcare and SaaS as specialty
Cura’s market position in the fields of homecare, elderly care and disabled care matches perfectly with the position of EPD (Elektronisch Patiënten Dossier – Electronic health record)-supplier Medicore, one of Tenzinger’s subsidiaries. Hololtcheff elaborates: “In 2004, at Medicore’s incorporation, we opted explicitly for webbased software development for Medicore’s healthcare information system. At that time, this was unique. This choice resulted in a solid market leader position within the field of medical specialist care for private treatment centres and consequently in a substantial growth within the mental health care and youth care segments. In addition, the incorporation of Cure4, also one of Tenzinger’s subsidiaries, strongly reinforced Tenzinger’s market position. Currently, more than 90
specialists are working on corporate, financial and legal matters within the healthcare sector at the fast-growing Cure4. Given the continuous changes in laws and regulations within the care sector, such knowledge is vital.”

The market where the Tenzinger group operates is in serious transformation, states Tenzinger’s CFO Björn Simmelink. “The strict laws and regulations, such as the General Data Protection regulations and the new regulations pertaining to care and coercion, for instance, force the EPD and ECD (Electronic health record) suppliers to continuously keep on developing and innovating.”

What’s more, there is a clear shake-out within the market of companies which are not coping with the regulatory pressure and are not able to play into it. “Often these companies have not jumped on the train of working Saas-based (Software as a Service; webbased software which is offered via the internet). SaaS offers far greater control and facilitates the required updates arising from the everchanging legislative landscape. However, changing to Saas-solutions is for most ICT suppliers rather difficult, not to say impossible. Consequently, we see, as a new trend, that solid ICT organisations shut down their healthcare activities”, Simmelink explains.

“We do exactly the opposite by strengthening our basis, by gathering knowledge and through our webbased and SaaS experience. With both Medicore and Cura in our group, we are now amongst the greatest EPD players in the Netherlands. And we operate from a solid financial position which enables even more innovation and further growth, the latter which is one of the key values in Tenzinger’s strategy.”

Olav van Reijken agrees: “Tenzinger’s acquisition of Cura came at the exact right time. Following the cure, we also expect a consolidation of ICT suppliers in the care sector. Only the strong will survive and this acquisition guarantees our position. Bringing two strong brands together creates twice as big the innovative power. Cura will now integrate in a company which is fully focused on healthcare and which can now help us to accelerate inmaking the change to SaaS.”

Impact on healthcare through innovation
Sustainable accessibility of high-quality healthcare is one of the biggest challenges for the Netherlands. Hololtcheff explains: “At first sight, the challenge is mainly cost-related. However, it is chiefly a demographic issue: an aging population and too few people to take care of them. If we continue on this path, ¼ of the Dutch population will need to be working in healthcare by 2040 in order to satisfy the demand for care. The issue is even worsened by the huge amounts of time that administrative reporting asks from carers. This time eats away the time of actual caring.”

“Our answer to these challenges are innovation and ICT technology: smart solutions which give patients and carers the chance to go back to the core”, says Hololtcheff. “In recent years, carers have had an enormous registration burden imposed by laws and regulations. It is about time that we start benefiting from that, making the data work for the carers and not the other way around and integrating ICT more and more for the support of carers and healthcare in general.”

Björn Simmelink elaborates: “For some time now, Tenzinger has, together with its clients, developed various projects with regard to self-sufficiency and data science. Our clients are very eager, we are highly motivated to make a difference. However, the accessory innovation costs are high. We opt for a growth strategy and for the broadening of our platform in order to realise our ambitions whilst being able to bear the investment costs of these innovations. Cura’s acquisition signifies a huge step forward in this respect; a healthy organisation with smart people aiming to further innovate together with their remarkable client base.”

About Tenzinger
Tenzinger helps care centres optimising their care processes. By means of innovative ICT solutions, practical supporting services and the introduction of high-quality data. In order to aim for better management, higher levels of efficiency and greater quality. For carers to focus on what healthcare is really about: providing high-quality care.

More information
For more information, please contact Lianne Willemsen (lianne.willemsen@tenzinger.com).

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Ellie Mae to Acquire Capsilon to Deliver End-to-End Mortgage Automation

Franciso Partners

Transformative deal boosts AI capabilities and enables true digital mortgage

PLEASANTON, Calif. – Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, announced today that it has signed a definitive agreement to acquire Capsilon, the leading provider of AI-powered mortgage automation software for mortgage lenders, investors, and servicers. With the acquisition of Capsilon, Ellie Mae is accelerating the vision of offering a fully digital mortgage by combining Ellie Mae’s Encompass™ Digital Lending Platform with Capsilon’s AI-powered solutions to create the most comprehensive end-to-end SaaS solution for companies in the mortgage industry.

“With the delivery of our next generation lending platform, we are accelerating our mission to automate everything automatable for the residential mortgage market. This includes making strategic acquisitions of best-in-class solutions to bring more value to the platform and the ecosystem faster,” said Jonathan Corr, president and CEO of Ellie Mae. “This is a significant day for the mortgage industry, as with the acquisition of Capsilon we are bringing together two market-leading companies and adding to our platform the pioneer of AI-powered intelligent automation leveraged by some of the largest lenders and servicers in the industry. As lenders and servicers continue to shift toward data-driven automation, we are excited to provide automated document recognition, classification and data extraction to further drive down costs and time of loan origination, acquisition and servicing.”

The acquisition increases the productivity of mortgage lenders, investors and servicers by automating critical business processes to create massive efficiencies throughout the mortgage lifecycle. Capsilon’s best-of-breed platform, Capsilon IQ, is used by companies across the mortgage industry, including six of the top 10 originators and servicers, to automate manual work and power their businesses with trusted data.

Additionally, the company recently introduced Capsilon Instant Underwriter, the mortgage industry’s first autonomous underwriting engine that leverages artificial intelligence, data extraction and process automation to complete underwriting tasks in seconds, with greater consistency, accuracy and less risk.

“The team at Capsilon has built the leading AI-powered platform that is changing the economics of the industry by enabling mortgage lenders and servicers to significantly increase profitability on each loan,” said Sanjeev Malaney, CEO and Founder of Capsilon. “By joining forces with Ellie Mae, we are excited to extend our capabilities and deliver unprecedented functionality through deep integrations with the Encompass Digital Lending Platform. This will help lenders leverage automation from consumer engagement through investor delivery and servicing. We believe this combination will offer value to all of our customers and integration partners, regardless of LOS or servicing platform.”

Ellie Mae was advised by Sidley Austin LLP as its legal counsel. Capsilon was advised by Jefferies as its financial advisor and Kirkland & Ellis LLP as its legal counsel in connection with the transaction.

For more information about the Ellie Mae Encompass Digital Lending Platform visit, https://www.elliemae.com/encompass/encompass-digital-lending-platform

About Ellie Mae

Ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.

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Efficy strengthens its shareholding to speed up European expansion. Fortino Capital Partners joins forces with Efficy, a flexible and fully customizable CRM software solution

Fortino Capital

Antwerpen – Fortino Capital Partners joins forces with Efficy, a flexible and fully customizable CRM software solution developed for medium and large enterprises. The Efficy Group, which employs 165 people, is headquartered in Brussels but is also serving 6 other European countries (France, The Netherlands, Luxembourg, Germany, Switzerland and Spain).

A state-of-the-art and user-friendly CRM software solution
Efficy offers an all-in-one CRM (Customer Relationship Management) solution, developed specifically to meet the needs of medium and large enterprises. It serves today ~2,500 customers in 33 countries and benefits from outstanding customer loyalty. The solution is end-to-end and can be highly customized to clients’ needs as it is deployed by Efficy’s inhouse implementation team or by its wide integration ecosystem.

A state-of-the-art and user-friendly CRM software solution

Efficy offers an all-in-one CRM (Customer Relationship Management) solution, developed specifically to meet the needs of medium and large enterprises. It serves today ~2,500 customers in 33 countries and benefits from outstanding customer loyalty. The solution is end-to-end and can be highly customized to clients’ needs as it is deployed by Efficy’s inhouse implementation team or by its wide integration ecosystem.

With the breadth of functionalities, its local presence and fast implementation times, Efficy presents a very competitive proposition compared to other large US enterprise CRM vendors.

Growth opportunities

Over the past years, the Group has experienced double digit growth through a combination of organic growth and strategic acquisitions and recorded ~€20M in revenues last year. The last major acquisition by the Group was E-Deal (2018), which positions them today as one of the leaders in the Benelux & French markets. Both founders Cédric Pierrard and Robert Houdart have the ambition to further drive the consolidation of the European CRM market, which is still highly fragmented with many local solutions.

As a new partner, Fortino Capital will assist Efficy and can deploy more capital out of its €235M Growth Fund to fuel its development in existing geographies and further drive the existing buy & build strategy.  The leadership team remains onboard for the next phase of growth.

Matthias Vandepitte, Partner at Fortino Capital, explains: “We are delighted to embark on this journey together with Cédric and his team and to support them in realising their ambition. At Fortino, we have a strong expertise in business software and we look forward to supporting Cédric and his team on this new journey.

Cédric Pierrard, founder of Efficy, adds: “Over the last 15 years, we have built a strong CRM software solution addressing the complex needs of clients all around Europe. In order to further ramp up Efficy’s growth and become the European leader, we were looking for a partner with the requisite experience and values as well as with the ability to further assist us in our international ambitions.

Efficy is the fourth  investment of Fortino’s Digital Growth Fund, succeeding MobileXpense, Maxxton and Odin Groep.

VMB and Bird & Bird acted respectively as financial and legal advisors to Fortino Capital Partners. CMS was legal advisor to the Company.

About Fortino Capital Partners

Fortino Capital Partners is an investment company with a focus on technology and digital transformation. Our mission is to support ambitious management teams in realizing their growth plans. We invest in young companies (venture capital) and established companies (growth capital) where growth is an integral part of the strategy. Fortino has offices in Belgium and the Netherlands, and also invests beyond the Benelux. For more information, please visit www.fortinocapital.com

About Efficy

Efficy is a software provider offering medium & large businesses a complete, flexible and extended CRM (Customer Relationship Management) solution which helps companies manage their Customer Relationship. Efficy has over 170,000 daily users in 33 countries.

Founded in 2005, the Efficy Group, ISO 9001 certified, works with companies from a wide variety of sectors: Banking (Belfius, BNP Paribas, Fortuneo), Insurance & Mutual insurance (Amma, Thélem), Social housing, Industry (CEA, Gradus, Poujoulat), Services, Tourism & Transport (Kinepolis, Geneva Tourism), Retail (La Redoute, Groupe Gautier), Local authorities & Chambers of commerce. Headquartered in Brussels, Efficy has approximately 165 employees in its 7 local offices in Belgium, France, the Netherlands, Spain, Luxembourg, Switzerland and Germany. For more information, please visit www.efficy.com.

For more information please contact:

Laëtitia Baret lba@efficy.com +33 6 13 03 63 67

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Francisco Partners completes the sale of ClickSoftware to Salesforce for $1.4 Billion Enterprise Value

Franciso Partners

San Francisco and London – Francisco Partners, a leading technology-focused global private equity firm, today announced it has completed the sale of ClickSoftware (“Click”) to Salesforce (NYSE: CRM) for an enterprise value of $1.4 billion. Francisco Partners took Click private in 2015.

Click is a leading provider of field service management solutions and optimization technology. The company arms field service professionals and mobile workers with innovative, AI-driven technologies and real-time schedule and route optimization at scale to improve their efficiency and effectiveness. Founded in 1997, Click is a pioneer in applying complex algorithms and artificial intelligence to workforce management and today helps manage over 1 million field resources around the world in a wide variety of industries including for organizations like Bosch, Deutsche Telekom and Unisys.

“Over the years, Click has built a leading product and a very strong market position. We are very proud to have been part of the company’s journey and wish all its employees continued success as part of Salesforce,” said Matt Spetzler, partner at Francisco Partners. “It has been a pleasure to partner with the Click team for these last four years and help them become a true global leader in Field Service Management,” commented Petri Oksanen, partner at Francisco Partners.

“The Click team has built an incredible company. We believe they are very well positioned for continued success as part of Salesforce,” added Mario Razzini, principal at Francisco Partners.

“Francisco Partners was a great partner for Click over the last few years,” said Mark Cattini, CEO of ClickSoftware. “Their strategic advice and the resources they contributed helped us improve many aspects of our business and accelerate revenue growth.”

“This is a fantastic outcome for ClickSoftware and Francisco Partners,” said Dipanjan Deb, Co-Founder and Chief Executive Officer of Francisco Partners. “Our investment in Click is a testament to our strategy of complexity arbitrage: we bought an orphaned public company, committed the full resources of the firm to improve the business across multiple dimensions, and ultimately sold to a strategic buyer.”

Goldman Sachs acted as the exclusive financial advisor and Paul Hastings acted as legal advisor to Francisco Partners.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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Francisco Partners to Acquire Orchard Software

Franciso Partners

Acquisition positions company to focus on growth opportunities

SAN FRANCISCO – Francisco Partners (“FP”), a leading technology-focused private equity firm, today announced its intent to acquire Orchard Software Corporation (“Orchard”), a privately owned company specializing in developing and supporting award-winning Laboratory Information Systems (LIS) that enhance clinical and pathology laboratory workflow, as well as support laboratory outreach and point-of-care testing (POCT).

“We look forward to the partnership with the FP team and are excited about fueling what has made Orchard successful with additional expertise and capital to accelerate our growth and continue to bring innovation to our customers”, said Rob Bush, Founder and CEO. As part of the transaction, Billie Whitehurst, will succeed Bush as CEO. Whitehurst has more than 20 years of experience leading high growth health information technology businesses, most recently serving as Senior Vice President at Netsmart. Prior to that, Whitehurst held senior roles at Change Healthcare and McKesson.

“Francisco Partners’ deep experience in healthcare technology and proven track record in nurturing and growing technology businesses will enable Orchard Software’s loyal base of employees to continue delivering market leading solutions and new innovations,” said Whitehurst.

Orchard specializes in seamless integration, advanced rules-based decision support, and data analytics. Their strength comes from developing collaborative partnerships with clients to deliver the very best solutions on the market. Orchard has been a leader in KLAS rankings since 2002 and remains the top LIS in the community and ambulatory laboratory markets. For the eighth year in a row and ninth time overall since 2009, Orchard Software was named to the Indianapolis Star’s Top Workplaces list for 2019.

“Orchard has been the pioneer in the LIS industry, developing market-leading products and maintaining strong, long-standing customer relationships,” said Jonathan Murphy of Francisco Partners. “They are well positioned to continue to drive product innovation in the LIS market, and we are excited about the opportunity in POCT and partnering with the team to accelerate the company to new levels of growth and impact for laboratorians across the US.”

Wilson Sonsini Goodrich and Rosati served as legal advisor to Francisco Partners. Brentwood Capital Advisors served as financial advisor to Orchard Software and Bose McKinney & Evans LLP served as legal advisor.

About Orchard Software Corporation

Orchard Software Corporation, founded in 1993, is a leader in the laboratory information system industry and offers a variety of laboratory system solutions. Orchard’s products are installed in all sizes of multi-site and multi-specialty physician groups and clinics, hospitals, independent reference labs, student health centers, veterinary labs, and public health organizations. Orchard serves more than 1,500 laboratories across the country, helping them improve efficiency, reduce errors, and enhance integration. For more information on Orchard Software Corporation, visit www.orchardsoft.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

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