Idera, Inc. Announces Investment from Partners Group

TA associates

Global Private Markets Investment Manager Acquires Majority Control In Partnership With Current Shareholders And Management


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Idera

Jan 22, 2021, 07:10 ET


HOUSTON, Jan. 22, 2021 /PRNewswire/ — Idera, Inc. (“Idera” or “the Company”), parent company of global B2B software productivity brands, today announced an agreement to recapitalize the Company, with global private markets investment manager Partners Group becoming majority owner, on behalf of its clients. Current shareholders HGGC and TA Associates will continue as significant equity investors moving forward, along with Idera’s management team.

This recapitalization represents the fourth equity transaction for Idera since 2014 and reflects investor confidence in the Company’s innovative business model and M&A expertise.  Since 2014, Idera has grown revenue, bookings, and earnings by more than 10X.  Organic growth from market-leading assets and acquisitions of nearly 20 companies drive the growth and foretell continued investor success.

“Since partnering with TA in 2014, we devoted ourselves to achieving results beneficial to shareholders, customers, and employees,” said Randy Jacops, Idera’s CEO.  “Our business model ensures we focus on customer priorities and attracts great investors who advise our innovations and support our belief that accepting and managing risk encourages creativity and confidence from our team.  I am honored to lead such a great company and look forward to continuing our success with Partners Group and our other investors.”

“When we first met the Idera team, we discovered a company with a unique business model focused on efficiency, reliability and speed, and one that we believed to be an attractive investment opportunity,” stated Hythem El-Nazer, a Managing Director at TA Associates.  “We became fans of Idera’s product mantra of making products easier to use, more scalable and with exceptional quality. This clear focus eliminated friction from the go-to-market process and enabled the Company to focus on the highest value ideas. We are thrilled to continue to partner with Randy Jacops and his management team on the next phase of growth.”

“When we heard the Idera story, we jumped at the chance to invest in the Company as we pride ourselves on partnering with winning management teams to drive success,” said Steve Young, HGGC Co-Founder and outgoing Idera Chairman.

“After we acquired a majority interest in 2017, we worked with Idera to ramp up the acquisition engine and closed over ten transactions in two years. This pace continues with a new deal announced this week and another pending.  We look forward to more success as continuing investors in this great company,” added Neil White, Partner at HGGC.

Partners Group made an initial investment in Idera, on behalf of its clients, in 2019. As described by Hal Avidano, Managing Director at Partners Group, “We are excited to continue our relationship with Idera and expand its strong platform. Over the past 18 months, we became further convinced of Idera’s business model and the significant market opportunity in the sector. Partners Group is a transformational investor and we believe that our thematic and platform-building expertise is an excellent fit for Idera as it capitalizes on these secular trends and achieves further growth.”

Kirkland & Ellis and Horzepa, Spiegel & Associates acted as legal counsel for Idera.  Ropes & Gray acted as legal counsel for Partners Group.  Deloitte acted as accounting and tax advisor to Idera.  Jefferies will act as lead financing partner and M&A advisor for the transaction.

About Partners Group
Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

Partners Group’s private equity business has an established track record of investing in leading businesses with development potential to generate attractive returns for its clients. With entrepreneurial governance at the heart of its approach, Partners Group’s private equity business aims to build high-performing boards and works together with management teams on targeted value creation initiatives. These enable long-term, sustainable growth, to the benefit of all stakeholders. Partners Group’s private equity business has directly invested in over 240 businesses since inception and today has USD 45 billion in assets under management.

About Idera, Inc.
Idera, Inc. delivers B2B software productivity tools that enable technical users to do more with less, faster. Idera, Inc. brands span three divisions—Database Tools, Developer Tools, and Testing Tools—with products evangelized by millions of community members and more than 50,000 customers worldwide, including some of the world’s largest healthcare, financial services, retail, and technology companies. To learn more, visit: https://www.ideracorp.com/.

About HGGC
HGGC is a leading middle-market private equity firm with over $5.4 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 190 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $27 billion. More information, including a complete list of current and former portfolio companies, is available at hggc.com.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high-quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

Media Contacts

Partners Group – Clare Burrows
clare.burrows@partnersgroup.com
+1 (212) 908 2708

HGGC – Tom Faust
TFaust@StantonPRM.com
646-502-3513

TA Associates – Philip Nunes
phil.nunes@backbaycommunications.com
617-391-0792

SOURCE Idera

Related Links

https://www.ideracorp.com

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Montagu Private Equity to acquire majority position in ITRS Group from TA Associates

TA associates

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announces it has agreed to acquire a majority position in ITRS Group (“ITRS”), a leading global provider of real-time monitoring and analytics software from TA Associates (“TA”), who will remain a minority holder alongside Montagu and Management.

Completion is expected next month, subject to customary closing requirements. The terms of the transaction were not disclosed.

ITRS’ software portfolio supports the “always on” enterprise, ensuring operational resilience for businesses operating in environments where technology failure means business failure. Headquartered in London, the company has established itself as an innovative and trusted partner, and today has over 3,000 clients across the globe, including nine out of the ten Tier 1 investment banks. In addition, its recent acquisition of Uptrends, a Netherlands-based website and web performance monitoring solution, has further strengthened ITRS’ product suite.

Since its establishment in 1997, ITRS has transformed from a European, single product solution to the capital markets industry, to today providing a comprehensive product suite to customers across a range of industries, including capital markets, telecommunications and healthcare. This has been achieved through impressive organic growth and M&A activity, and Montagu intends to work with the management team and leverage its experience, network and resources to continue to drive growth and further expansion.

Guy Warren, CEO of ITRS, said: “We are delighted to welcome Montagu into ITRS Group. Under TA Associates’ ownership, we have broadened our product suite and significantly expanded our customer base, and we thank them for their continued support. The Montagu team have shown a strong understanding of our business and its potential, and share our ambitions, and we are excited to partner with them for the next stage of growth.”

Christoph Leitner-Dietmaier, Director at Montagu, said: “It is a privilege for Montagu to back Guy and his leadership team, and we look forward to partnering with TA on this investment in ITRS. We are truly impressed by the leading position ITRS has established and are excited to support their vision of becoming the single pane of glass for IT monitoring for the enterprise customer.”

Morgan Seigler, Managing Director at TA, said: “We have greatly enjoyed partnering with Guy and the entire team at ITRS over the last four years to help drive the company’s growth and expansion. We look forward to collaborating with the ITRS team and Montagu to continue this successful journey.”

The sellers were advised by Jefferies International and Travers Smith LLP. Montagu was advised by Arma Partners and Freshfields Bruckhaus Deringer.

About Montagu Private Equity
Montagu Private Equity is one of Europe’s leading private equity firms and has been investing in businesses for over fifty years. Montagu’s investment strategy is focused on partnership with management in buyouts of high-quality companies operating in stable and growing sectors, providing products and services that their customers would badly miss. It develops a shared strategic vision with management and then provides the necessary financial, strategic and operational resources to help realise that vision and support growth. Montagu partners with companies with enterprise values between €200 million and €1 billion and has €8bn assets under management. For additional information on Montagu, visit www.montagu.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, the firm employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Capsule Technologies To Be Acquired by Philips

Franciso Partners

Francisco Partners, a leading global investment firm that specializes in partnering with technology and healthcare businesses, announced today the pending sale of Capsule Technologies, Inc. (“Capsule”) to Royal Philips (“Philips”) for $635 million in cash consideration.

Francisco Partners’ investment in Capsule helped support the company’s growth and expansion across medical device integration, patient monitoring, and clinical surveillance solutions. Founded in 1997, the company has grown to serve over 2,800 hospitals and healthcare organizations in 40 countries, impacting over 20 million patients annually.

“It has been a pleasure to partner with Capsule’s management team to help grow this important business,” said Chris Adams, Partner at Francisco Partners. “Capsule is a key enabler of the digital hospital, and we have been especially proud of how impactful it has been in supporting global healthcare organizations with the challenges of COVID-19. The team has delivered exceptional growth through constant customer focus and high-quality service.”

Justin Chen, Principal at Francisco Partners, added, “We are thrilled to have helped the Capsule team build their business. They have been at the forefront of delivering mission critical and innovative healthcare solutions to liberate medical data and improve patient safety. The company is in a tremendous position, and we wish the team continued success as a part of Philips.”

Hemant Goel, CEO of Capsule, said, “Francisco Partners has been a supportive strategic partner over the past few years. Their team has been invaluable, executing on the carveout, providing thought leadership, and investing into the business to help us grow rapidly and build an enduring and strategic position. We are very proud of what the entire Capsule organization and employees have been able to accomplish together. We are excited to join Philips and continue our mission of empowering clinicians with simplified workflows and timely, actionable insights.”

Philips and Capsule are long-term partners jointly offering solutions to healthcare organizations globally. The companies share similar values and ambition to improve patient outcomes. The pending acquisition by Philips will allow both companies to enhance the value they provide to their customers and patients. The transaction is subject to certain closing conditions, including regulatory clearances in relevant jurisdictions outside of the U.S., and is expected to be completed in the first quarter of 2021. The company with its leadership team and approximately 300 employees will become part of Philips’ Connected Care segment.

Barclays served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Capsule Technologies.

About Capsule Technologies

Capsule Technologies is a leading global provider of medical data technologies for hospitals and healthcare organizations. Our Medical Device Information Platform — comprised of device integration, vital signs monitoring, and clinical surveillance solutions — captures streaming clinical data from connected systems and transforms it into context-rich information for clinical documentation, alarm management, patient surveillance, decision support, predictive analytics, clinical research and more. End-to-end data management and connectivity supports better collaboration and communication between clinicians and departments. More than 2,800 global clients leverage our platform to improve patient safety, simplify workflows and raise overall satisfaction throughout the hospital and across care settings. Learn more at www.capsuletech.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch more than 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 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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inRiver Acquires Detail Online and Powers the Only “Digital-First PIM” Solution

Verdane Capital

Advanced analytics capabilities help solve the revenue challenges industrial manufacturing, retail, and e-commerce teams face in 2021

CHICAGO and MALMÖ, Sweden – – (January 18, 2021) – inRiver, the solution that empowers organizations to deliver revenue-driving product information management (PIM) across every customer touchpoint, today announced the acquisition of Detail Online, an AI-powered analytics solution to help brands monitor product information across multiple online channels. The acquisition helps power the only digital-first PIM™ solution that drives faster time-to-market and better buying experiences by leveraging the insights needed to optimize content performance and remedy channels or products that are underperforming in real-time.

Commerce today needs to be faster and more agile than ever before to beat the global competition. The acquisition of Detail Online means inRiver’s solution helps bring to life compelling product stories for highly customized products, obtain actionable guidance on what influences buying decisions, and adapt quickly to implement insights.

The Detail Online solution also delivers insights into critical elements including out of stock issues and poor product visibility that impact the ability to sell. Both B2B and B2C organizations can now turn product information into strategic assets to drive revenue.

 

“The addition of Detail Online is an exciting move for our two organizations and offers exceptional analytics capabilities to the inRiver solution,” said Thomas Zanzinger, CEO, inRiver. “We are building a new generation of a product information management solutions to help our customers generate revenue.”

“We are excited about joining the inRiver team,” stated Joakim Gavelin, CEO, and co-founder, Detail Online. “The world of digital commerce is changing faster than ever before and engagement intelligence plays a significant role in understanding how and where to sell more products. The combined solution helps to solve tomorrow’s commerce challenges.”

The acquisition brings the number of global inRiver employees to more than 240 and provides an entry into the APAC region. The combined organization will further strengthen global customer service and support to serve customers worldwide.

 

About inRiver

inRiver empowers organizations to deliver revenue-driving product information at every touchpoint. inRiver’s digital-first PIM™ enables organizations to bring compelling product stories to life for highly customized purchases, obtain actionable guidance on what influences buying decisions, and then quickly adapt to put insights into action. inRiver helps B2B and B2C organizations turn product information into strategic assets to drive revenue for over 1,500 brands and 500 customers globally. Headquartered in Malmö, Sweden, inRiver has offices in Chicago and Amsterdam. For more information, visit inRiver.com

 

About Detail Online

Detail Online helps brand manufacturers take control of their product visibility in online reseller channels worldwide. Detail Online’s AI-powered technology audit reseller activity and takes the guesswork out of digital merchandising by delivering insights that are granular, highly accurate and immediately actionable. Detail Online do daily audits at 1000 retailer websites and Marketplaces globally, across 76 countries. Headquartered in Stockholm, Sweden, with a large Technology Centre located in Davao in the Phillipines. For more information, visit Detail Online.

 

Press contacts

For US
Erika Goldwater
Erika.goldwater@inriver.com
+1 617 407 3578

For EMEA
Katja Doemer
Katja.doemer@inriver.com
+49 151 52846868

 

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Oqton raises $40M Series A financing round

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Fortino Capital

Ghent, Belgium / San Francisco, USA – Oqton, Inc., the U.S.- and Belgium-based software company specialising in AI-powered solutions for the manufacturing industry, today announces that it has raised over $40M in a Series A financing round, led by Fortino Capital, a leading B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group. The founding team (Samir Hanna and Ben Schrauwen) and several angel investors, including Carl Bass (former CEO Autodesk), Dries Buytaert (Drupal and Acquia), and Peter Mercelis (Layerwise) also participated in the round. The financing will be used to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals (Additive manufacturing, Robotic welding, CNC machining).

Oqton’s platform is unique in that it combines several manufacturing software capabilities (CAD, PLM, CAM, IOT, MES, QMS) into a single platform, enabling an unprecedented degree of AI-powered automation and optimization. Users can automatically capture expert knowledge and eliminate repetitive tasks, access technologies remotely and across multiple sites, and optimize production planning to improve utilization and quality.

Samir Hanna, Oqton’s Co-Founder and Chairman, said: “We can already achieve 100% automation in the dental and jewelry verticals, resulting in 30% overall cost reduction. Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewelry, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”

Being fully integrated, users can also link the platform to their traditional technologies, such as CNC, welding, and post-processing machines for a truly end-to-end manufacturing solution, making their processes faster, more adaptable, and more cost-effective. Oqton has already established partnerships with EOS, Sisma, Trumpf, Prodways and Sandvik.

Oqton’s Co-Founder and CEO, Ben Schrauwen, said: “We are keen to have new investors on board who can help us scale globally, with both a direct and indirect sales approach. We truly think the time has come for the manufacturing space to embrace the cloud and we are working hard to facilitate this.”

This funding round coincides with the announcement that Ben Schrauwen, Oqton’s CTO, will be taking over as CEO. Samir Hanna, Oqton’s Co-Founder and leaving CEO, will become Executive Chairman.

More on Oqton in today’s article in Belgian newspaper De Tijd (Dutch version only).

About Oqton
Oqton develops AI-powered manufacturing solutions to allow manufacturers to manage, optimize, and automate their additive manufacturing workflows. Their software offering is a secure, cloud-based platform that links data across the complete manufacturing ecosystem – from design to production to logistics. Founded in San Francisco, Oqton is based in Ghent, Belgium, with offices in the US, China and Denmark.

About Fortino Capital Partners
Fortino Capital Partners is a Benelux-focused enterprise software investor with a pan European reach. Fortino Capital invests in both Venture Capital and Growth private equity assets. With offices in Antwerp and Amsterdam, Fortino Capital’s investment portfolio includes Teamleader, Insided, MobileXpense, Efficy CRM, Sigma Conso and iObeya among others.

About PMV
PMV is a do and dare company that shapes the economic future of Flanders. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing venture capital, loans and guarantees. An experienced and highly motivated team of 125 professionals endeavors every day to achieve the goal of creating prosperity and well-being in Flanders. PMV has a portfolio of about € 1.3 billion in assets under management.

About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. Sandvik holds world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2019, the Group had approximately 40,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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Priveq invests in IMI – a leading niche provider of supply chain software

Priveq

Priveq Investment is the new majority owner of Industri-Matematik International AB (“IMI”), a leading provider of mission-critical supply chain software headquartered in Linköping, Sweden. The IMI software solutions play a central role in automating and streamlining key workflows and are targeted to customers dealing with the largest and most complex distribution networks.

 Since the foundation in 1967, IMI has been designing and integrating configurable solutions that transform high-volume distribution of fast-moving goods into a competitive advantage for international and market leading trading companies. Today the software handles over 1 billion order lines annually and IMI´s customers include some of the largest wholesale distributors, grocery stores, pharmaceutical retail chains and 3PL companies in the Nordics, in Europe and in North America. IMI has more than 80 employees and generated revenues of around SEK 170m in 2020.

“Priveq has followed IMI’s development for several years and we are very excited to now invest as well as partner up with management to accelerate growth. We are impressed by IMI’s strong customer offering and close relationships, which provides a stable foundation for continued expansion with existing as well as new customers“, says Senai Ayob, Partner and Investment manager at Priveq.

“With Priveq as the new owner we will increase investments in our software, sales and marketing, and our team. This will strengthen our market position further and help our customers to develop a more efficient and sustainable supply chain“, says Niklas Rönnbäck, CEO at IMI.

Priveq was advised by Setterwalls, Deloitte, Cupole and Omegapoint in connection with the transaction.

For more information, please contact:

Senai Ayob, Partner Priveq
+46 70 459 23 61
senai.ayob@priveq.se

Niklas Rönnbäck, CEO IMI
+46 70 553 19 99
niklas.ronnback@im.se

About IMI
IMI is an international software development company with offices in Sweden and clients extending 18 countries. By combining forces to untangle complex distribution challenges, our devoted and experienced team of experts develop and deliver scalable solutions that improve control, efficiency and profitability across global supply chain operations. This in-house competence makes us an effective and flexible partner throughout the development journey for our clients in the fast-moving goods, retailing, wholesale distribution, and 3PL industries. The core of what we do is to ensure that trading companies can deliver on their promises every time – today and for years to come. With an astounding 99.9 % uptime, IMI’s supply chain systems expedite more than one billion order lines per year for 10,000 users across 200 warehouses.

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ThoughtWorks Receives $720 Million Investment at an Enterprise Value of $4.6 Billion

Apax

14 January 2021

January 14, 2021 Chicago – ThoughtWorks, a global software consultancy today announced that GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested $720 million in the company.

Founded over 25 years ago, ThoughtWorks has grown from a small team in Chicago to a leading global software consultancy of more than 7,000+ ThoughtWorkers. Its roots are in digital transformation and agile software development and the company has been at the forefront of defining the tech principles used by some of the world’s most successful organizations.

The proceeds will be used to repurchase equity from existing investors. The new commitment of capital comes as the company continues to invest in growth and international expansion.

“This placement is a very positive indicator of how strong our company and brand are perceived in the market. It’s wonderful that GIC, Siemens, Fidelity and Mubadala see ThoughtWorks to be a strong investment and this is an endorsement of the strength and relevance of our business and people”, said Guo Xiao, president and chief executive officer, ThoughtWorks.

“Since partnering with ThoughtWorks in 2017, the company has gone from strength to strength – accelerating growth and profitability and transforming to be world class in a highly strategic global market. ThoughtWorks’ talented employees, global footprint and reputation for technical excellence make it a standout offering in the rapidly evolving digital transformation space”, said Rohan Haldea, partner at Apax. “We welcome GIC, Siemens, Fidelity and Mubadala Investment Company as additional investors to support the company’s growth strategy.”

“Siemens strongly believes in the growth potential of supporting the digitalization of businesses across all industries. We believe that ThoughtWorks is the right partner with outstanding capabilities. I am proud of our investment to jointly accelerate digital transformation,” said Cedrik Neike, managing board member of Siemens, responsible for Digital Industries and Siemens Advanta.

“As the clear market leader in digital transformation, ThoughtWorks’ long term growth prospects were key to our investment decision. The company’s unique offerings are pivotal to the digitization of many businesses which we see accelerating in 2021 and beyond,” said Tim Breen, executive director, Technology at Mubadala.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as placement agents to ThoughtWorks in connection with this transaction. Kirkland & Ellis LLP acted as legal advisor to ThoughtWorks.

This press release is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

About ThoughtWorks
We are a software consultancy and community of passionate purpose-led individuals, 7000+ people strong across 46 offices in 15 countries. Over our 25+ year history, we have helped our clients solve complex business problems where technology is the differentiator. When the only constant is change, we prepare you for the unpredictable.

About Apax Partners LLP
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 approximately $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 GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €57.1 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit: www.mubadala.com.

Contact
Reyne Quackenbush
rquacken@thoughtworks.com
M 732-261-7420

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Hornetsecurity Agrees to Acquire Software Solutions Provider Altaro to Create International Cloud Security and Compliance Software Platform

Verdane Capital

Transformative acquisition by Hornetsecurity to establish pan-European solution to security and compliance issues in the Microsoft 365 environment

Hanover, Germany –Hornetsecurity Group, a leading European provider of cloud-based email security and data protection headquartered in Germany, today announced that it has agreed to acquire Altaro, a high-growth international provider of reliable backup solutions. The acquisition will transform the company from being a regional leader in cloud email security to an international cloud security and compliance platform.

Altaro provides cloud back-up software for Microsoft Office 365 and virtual machine (VM) software focused on mid-market and SMEs. Headquartered in Malta with offices in the UK, Germany, France, North Macedonia and the US, Altaro serves over 50,000 customers across more than 120 countries.

This transaction will significantly expand Hornetsecurity’s international presence and product range, making the company a pan-European solutions provider to security and compliance issues in the Microsoft 365 environment. As part of the transaction, Altaro’s founders will be appointed into management roles within Hornetsecurity.

 

The transaction is supported by Hornetsecurity’s shareholders Verdane, the Northern European specialist growth equity investor and PSG, a leading growth equity firm partnering with lower middle-market software and technology-enabled service companies.

“We’re thrilled to welcome the Altaro team to help drive the next phase of our growth,” said Daniel Hofmann, CEO of Hornetsecurity. “As we look to provide all organisations with a complete security and compliance solution for their use of cloud technologies, integrating Altaro’s backup solutions into Hornetsecurity’s email cloud security product portfolio will complete the comprehensive security package puzzle.”

David Vella, CEO of Altaro, added: “We have found exactly the right strategic buyer in Hornetsecurity and are delighted to become part of the group. The two companies’ existing business lines complement each other perfectly, and by combining these along with our pooled industry experience and know-how, we are confident in Hornetsecurity’s ability to become the European market leader in cloud security.”

Financial terms of the transaction were not disclosed.

 

About Hornetsecurity Group

Hornetsecurity is a leading email cloud security provider in Europe, which protects the IT infrastructure, digital communication and data of companies and organizations of all sizes. Founded in 2007, the security specialist from Hanover, Germany, provides its services worldwide via 9 redundant, secured data centres. The product portfolio covers all important areas of email security, including spam and virus filters, legally compliant archiving and encryption, as well as defense against CEO fraud and ransomware. With around 200 employees, Hornetsecurity is represented globally at 11 locations and operates in more than 30 countries through its international distribution network. The premium services are used by approximately 40,000 customers including Swisscom, Telefónica, KONICA MINOLTA, LVM Versicherung, DEKRA and Claas.

Further information on www.hornetsecurity.com

 

About Altaro

Altaro is a high-growth developer of reliable backup solutions for managed service providers (MSPs), IT resellers and enterprises. The company has over 50,000 customers in 121 countries around the world, 10,000 partners and over 2,000 MSPs. Altaro offers cost-effective and professional features without unnecessary aspects that add costs or excessive complexity. The flagship product is the backup solution for virtualized environments Altaro VM Backup. It is becoming increasingly popular and is the first choice for Hyper-V and VMware backups and replications. Altaro Office 365 Backup is a subscription solution for backing up and restoring Office 365 mailboxes. A backup solution for physical Windows servers is also available. Altaro has offices in the U.S., U.K., Germany, France, northern Macedonia and Malta.

For further information visit www.altaro.com

 

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments in category leaders within software, digital consumer, and energy & resource efficiency. Verdane’s team of more than 60, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner in Northern Europe. www.verdane.com

About PSG

PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 60 companies and facilitated over 250 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.

 

Press contacts

Jonathan Bui, Communications Manager
Verdane
press@verdane.com
+46 76 27 28 100

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Hg invests in Prophix to continue to scale the business and invest further in product and technology

HG Capital

Mississauga, Canada; New York, USA and London, UK: 6th January 2021Prophix, a global leader in Corporate Performance Management (CPM) software, today announces an investment from Hg, a leading global software investor. Hg’s investment is expected to accelerate and scale Prophix’s growth and fund further development of its product capabilities.

This deal will result in Prophix employees and management participating to acquire the company alongside Hg, who will hold the majority investment. This will allow staff to benefit more directly from the organization’s ongoing growth.

Founded in 1987 and based in Ontario, Canada, Prophix is a leading provider of CPM software serving mid-market companies across multiple industries worldwide, providing planning, budgeting and financial reporting software into the ‘office of the CFO’. Prophix’s software allows organizations to improve their financial reporting capabilities, while also standardizing and streamlining the budgeting process to generate significant ROI through a faster time to close, reduction in budgeting errors and an ability to reforecast in a more agile way. Prophix is a leader in its segment with over 1,600 customers, industry-leading retention rates and best-in-class customer NPS.

“Our journey so far has shown us that there is still so much to play for in our industry. We have significant ambitions for the business and Hg’s investment and operational experience in software will help us reach these goals. We will look to serve our customers better than ever before, as we invest further in our sales and marketing functions, further our R&D capabilities, accelerate our transition to the cloud and look to scale our business across several regions, including in Europe. Hg has successfully helped businesses to accomplish these goals many times over and we’re excited to tap into some of this experience to unlock our full potential.”

Alok Ajmera, Chief Executive Officer of Prophix

“This is a really momentous announcement for the team at Prophix and we warmly welcome Hg as a key strategic partner today. It has been an incredible journey to date, and I am so grateful to the enormous talent that has seen us get to this stage. Together with Hg we will move forward with an unstoppable team and a very bright future for the business.”

Paul Barber, Founder and Executive Chairman of Prophix

This partnership with Prophix reinforces Hg’s focus on mission critical B2B software sitting at the intersection of Hg’s experience in ERP and Tax & Accounting. This transaction represents Hg’s seventeenth investment in this space in the last 16 years, with total invested capital of over $3.5 billion. Prophix is also the fourth software business based in Canada that Hg has invested in over the last 12 months.

“Prophix sits right at the heart of a universe that we have been investing in for almost two decades. This means that we recognise high-quality when we see it and Prophix falls firmly into this category. Prophix is a great business run by an impressive team. They have created a best-in-class cloud product that serves a very satisfied customer base, with a huge runway for further growth. We’re really excited about joining the team.”

Jonathan Boyes, Partner at Hg

“We see significant growth opportunity from the continued adoption of CPM software by mid-market organizations, as the need for real-time financial information and the ability to budget & reforecast in a more agile way becomes increasingly important. Prophix is positioned incredibly well to benefit from this trend, which is a testament to the successful efforts of Paul, Alok and the rest of the Prophix team.  We look forward to partnering with Alok and his team to help the company continue to realise its future growth potential.”

Ben Meyer, Partner and co-lead of Hg’s New York team

The terms of the transaction were not disclosed. Advising Prophix on the transaction were Shea & Company as financial advisor and Osler, Hoskin & Harcourt LLP as legal advisor. Advising Hg were Stifel (M&A), Skadden (legal), Kirkland & Ellis (financing), Deloitte (accounting and tax) and EY (commercial and technology).

For further details:

Tom Eckersley (Hg)
+44 (0)20 8396 0930

Diana Vaughton and Samantha Chiene (Brunswick, UK)
+44 (0)207 404 5959

Alex Yankus and Harry Mayfield (Brunswick, USA)
+1 917 818 5204
HG@brunswickgroup.com

Rachel Douglas (Prophix)
+1 (905) 279-8711 Ext: 502
rdouglas@prophix.com

Colleen Irish (Tier One Partners, USA)
+1 (617) 842-1511
cirish@tieronepr.com

About Hg

Hg is a leading European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, worth over $50 billion aggregate enterprise value, with over 35,000 employees globally. For further details, please visit the Hg website: https://hgcapital.com/.

About Prophix

Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps midmarket companies achieve their goals more successfully with its innovative Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, planning and reporting, and puts the focus back on what matters most – uncovering business opportunities and driving competitive advantage. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow. https://www.prophix.com/

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PointClickCare Technologies Enters Next Phase of Growth with Minority Strategic Investment from New Investor Hellman & Friedman and Existing Investor Dragoneer Investment Group

JMI Equity

Investments Expected to Drive Further Expansion of PointClickCare Product Offerings and Accelerate Growth

MISSISSAUGA, Ontario–(BUSINESS WIRE)–PointClickCare Technologies, the leader in cloud-based healthcare software for the long-term and post-acute care market, today announced a minority strategic investment from affiliates of Hellman & Friedman LLC (“H&F”), a preeminent global private equity firm with a distinctive approach focused on investments in high-quality growth businesses, as well as an increased investment from Dragoneer Investment Group, a long-term-oriented investment firm with an extensive track record of investing in leading growth companies.

H&F will work with the PointClickCare leadership team to continue fueling growth and expanding the company’s product offerings. As part of the investment, Sameer Narang, Partner at H&F, will join the PointClickCare Board of Directors. PointClickCare Founders Mike and David Wessinger will continue to control and operate the company with the support of the Board of Directors.

“We are excited to welcome Hellman & Friedman as an investor in PointClickCare given its deep sector expertise and its collaborative partnership approach, and are delighted to officially welcome Sameer to our board,” said Mike Wessinger. “This investment, along with Dragoneer’s increased stake, will help us accelerate our growth and expansion across the healthcare continuum, and enable us to continue delivering on our commitment to our customers’ success – particularly at a time when the need for more seamless care through innovative technology is paramount.”

“H&F is thrilled to join PointClickCare’s investor base. We believe there is significant growth opportunity ahead given the company’s exceptional customer relationships, strong product suite and leading market position in the post-acute ecosystem,” said Narang. “PointClickCare sits at the intersection of our healthcare and software investment efforts, exhibiting all the compelling characteristics we seek out when investing in vertical-market category leaders. We look forward to collaborating with the team and believe we are uniquely positioned to further accelerate the Company’s expansion, for the benefit of its customers and the broader healthcare industry.”

“As the largest outside investor in PointClickCare, we are thrilled to be expanding our investment in PointClickCare,” said Christian Jensen, Partner at Dragoneer and member of the PointClickCare Board of Directors. “We look forward to continuing to support PointClickCare as it builds on its already impressive momentum and delivers even more of the hallmark innovation that has created fierce loyalty among its customers.”

PointClickCare’s cloud-based healthcare software platform provides the core clinical and administrative system of record and a comprehensive suite of workflow management tools for skilled nursing facilities, senior living communities and home health agencies. PointClickCare currently serves over 21,000 long-term and post-acute care providers, including approximately 65% of skilled nursing facilities in the United States.

PointClickCare recently acquired Collective Medical, the leading network-enabled platform for real-time cross-continuum care coordination. Together, PointClickCare and Collective Medical will provide diverse care teams across the continuum of acute, ambulatory, and post-acute care with point-of-care access to deep, real-time patient insights at any stage of a patient’s healthcare journey, enabling better decision-making and improved clinical outcomes at lower cost.

“We would also like to take this opportunity to thank JMI Equity, which has undoubtedly contributed to the success of PointClickCare and our customers by enabling us to expand the breadth of our solution suite and meet the evolving needs of long-term care providers,” continued Wessinger. “Most importantly, we thank them for believing in our vision. We look forward to building on the continued leadership momentum we have created and are pleased to have the H&F team on board, alongside the continued support of Dragoneer Investment Group and JMI Equity, as we approach our next stage of growth.”

UBS Investment Bank provided financial advisory services and Goodwin Procter LLP provided legal advisory services to PointClickCare in the successful financing and facilitation of the equity transactions.  Evercore provided financial advisory services to JMI Equity.

To learn more about PointClickCare, visit www.pointclickcare.com.

About PointClickCare

With a suite of fully-integrated applications powered by cloud-based healthcare software, PointClickCare leads the way in helping care providers connect, collaborate, and share data within their network. Over 21,000 long-term and post-acute care providers, including skilled nursing facilities, senior living communities, and home health agencies use PointClickCare today, making it the North American healthcare IT market leader for the senior care industry. For more information on PointClickCare’s software solutions, visit www.pointclickcare.com.

Contacts

Tania DiVito
Corporate Communications Manager, PointClickCare
Tania.divito@pointclickcare.com
905-858-8885 x1997
800-277-5889 x1997

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