Tag Archives: Software

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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Paycor received commitments for $270 million in new investment led by Neuberger Berman and QIA and accompanied by other new investors

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Apax

4 January 2021

Cincinnati and New York, January 4, 2021 – Paycor, a leading provider of SaaS Payroll and Human Capital Management software, today announced that it has received commitments for $270 million in new investment co-led by Neuberger Berman, on behalf of certain funds for which it serves as investment adviser, and Qatar Investment Authority (“QIA”) and accompanied by other new investors including ClearBridge Investments, Franklin Templeton, Leumi Partners, and Teca Partners.

Paycor received commitments for $270 million in new investment led by Neuberger Berman and QIA and accompanied by other new investors

Paycor is a trusted partner to more than 40,000 medium and small-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset — their people.

“The partnership of these new investors with Paycor speaks to the momentum we have achieved as a leader in HCM and the opportunities we see ahead,” said Raul Villar, Jr., Paycor’s Chief Executive Officer. “This allows Paycor to accelerate our strategy of serving our customers with industry-leading technology and expertise.”

Jason Wright, Partner at Apax Partners said, “Cloud HCM / Payroll is a large, growing market with evolving customer needs. Paycor’s next-generation, integrated suite of solutions is at the forefront of this evolution. In the last three years, Paycor has undergone a substantial transformation, investing in its product, go-to-market strategy, and management team, while continuing to scale the business. We welcome Neuberger Berman, QIA, ClearBridge Investments, Franklin Templeton, Leumi Partners and Teca Partners as additional investors to support the company’s growth strategy.”

J.P. Morgan Securities LLC acted as Sole Placement Agent on the financing. Kirkland & Ellis LLP acted as legal advisor to Paycor.

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.

– END –

About Paycor
Paycor creates HR software for leaders who want to make a difference. Our Human Capital Management (HCM) platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and dedicated support from HR experts. That’s why more than 40,000 medium & small businesses trust Paycor to help them solve problems and achieve their goals.

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.

About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman’s diverse team has over 2,300 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $374 billion in client assets as of September 30, 2020. For more information, please visit our website at www.nb.com.

About QIA
Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

Media contacts

For Paycor
Katy Bunn | +1 513.307.6392 | KBunn@paycor.com

For Apax Partners
Katarina Sallerfors | +44 207 872 6526 | katarina.sallerfors@apax.com
Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com

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Paycor received commitments for $270 million in new investment led by Neuberger Berman and QIA and accompanied by other new investors

Apax

Paycor received commitments for $270 million in new investment led by Neuberger Berman and QIA and accompanied by other new investors

4 January 2021

Cincinnati and New York, January 4, 2021 – Paycor, a leading provider of SaaS Payroll and Human Capital Management software, today announced that it has received commitments for $270 million in new investment co-led by Neuberger Berman, on behalf of certain funds for which it serves as investment adviser, and Qatar Investment Authority (“QIA”) and accompanied by other new investors including ClearBridge Investments, Franklin Templeton, Leumi Partners, and Teca Partners.

Paycor is a trusted partner to more than 40,000 medium and small-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset — their people.

“The partnership of these new investors with Paycor speaks to the momentum we have achieved as a leader in HCM and the opportunities we see ahead,” said Raul Villar, Jr., Paycor’s Chief Executive Officer. “This allows Paycor to accelerate our strategy of serving our customers with industry-leading technology and expertise.”

Jason Wright, Partner at Apax Partners said, “Cloud HCM / Payroll is a large, growing market with evolving customer needs. Paycor’s next-generation, integrated suite of solutions is at the forefront of this evolution. In the last three years, Paycor has undergone a substantial transformation, investing in its product, go-to-market strategy, and management team, while continuing to scale the business. We welcome Neuberger Berman, QIA, ClearBridge Investments, Franklin Templeton, Leumi Partners and Teca Partners as additional investors to support the company’s growth strategy.”

J.P. Morgan Securities LLC acted as Sole Placement Agent on the financing. Kirkland & Ellis LLP acted as legal advisor to Paycor.

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.

– END –

About Paycor
Paycor creates HR software for leaders who want to make a difference. Our Human Capital Management (HCM) platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and dedicated support from HR experts. That’s why more than 40,000 medium & small businesses trust Paycor to help them solve problems and achieve their goals.

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.

About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman’s diverse team has over 2,300 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $374 billion in client assets as of September 30, 2020. For more information, please visit our website at www.nb.com.

About QIA
Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

Media contacts

For Paycor
Katy Bunn | +1 513.307.6392 | KBunn@paycor.com

For Apax Partners
Katarina Sallerfors | +44 207 872 6526 | katarina.sallerfors@apax.com
Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com

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Main Capital facilitates strategic combination of 4Value and Exxellence Groep in software market for (semi-)governmental organizations

Main Capital

Hengelo, December 24th 2020 – 4Value, specialist in software and valuation-technical services for the implementation of the Dutch WOZ Act by municipalities and tax partnerships, joins Exxellence Groep, majority participation of Main Capital. After the combination with Zaaksysteem.nl in May this year and T&T Vertrouwd Verbonden in August this year, 4Value is already the third step in the buy-and-build strategy to form strategic combinations with leading companies in the (semi-)government market, in order to improve the product offering and added-value for (semi-)public customers and to provide a sustainable counterbalance to the larger players in the market.


About 4Value
4Value has been providing software and valuation-technical services for the implementation of the WOZ Act to municipalities and partnerships since 1997. 4Value is a software company and a valuation agency at once. Both disciplines are closely intertwined in daily performance practice. 4Value supplies superbly functioning software with high-quality integrations and well-performing valuation models, as well as valuation-technical services at a very high level. On behalf of 45 customers (municipalities and partnerships), the web-based valuation application 4Woz 2.0 annually values more than 2.3 million objects in 92 municipalities throughout the Netherlands. This makes 4Value the market leader in the WOZ sector. Customers of 4Value include Tax Cooperation West Brabant, Hilversum and Kennemerland South Municipal Taxes.


Collaboration 4Value – Exxellence Groep
Together, 4Value and Exxellence Groep have more than 550 customers and 220 employees and serve most of the Dutch municipalities and (semi-)public organizations throughout the Netherlands. With the strategic combination with 4Value, Exxellence Groep and Main Capital are taking a big step in expanding the product portfolio and in doing so optimize the added value for customers. After laying a solid foundation with Zaaksysteem.nl (in May) and the step in the integration layer with T&T Vertrouwd Verbonden (August), the combination with 4Value is a very strategic third step into the government tax software domain. Supported by Main Capital, the combined company will continue to explore further strategic combinations with software product providers in the government market. The group’s ambition is to grow into a leading provider of software solutions and related services within the (semi-)government market in order to expand the product range and added value towards customers and to provide a sustainable alternative to the larger players in the market. Main elaborates on the experience gained in this market with former portfolio company Roxit. The organizations will strengthen each other on a functional level whereby outstanding service provision for the customer is the starting point.

Marcel Dillissen (Managing Director 4Value) “Due to the strategic combination of 4Value and Exxellence Groep, we see even more possibilities to serve customers with smart software solutions to make connections between governments and residents, but also to expand the product portfolio in the field of the WOZ Act. 4Value has applied artificial intelligence and machine learning to determine the WOZ values. We expect that these techniques can be applied much more widely in the software products within the strategic combination.”

Michel Veenhuis (CEO Exxellence Groep): “With 4Value, we are strengthening our existing (SMQ) position within the Tax domain. This strategic expansion of our Exxellence ‘Zaken’ and ‘Connect’ Ecosystem offers many opportunities to respond optimally to the market needs to renew the current application landscape around the WOZ. With 4Value, the Exxellence Groep has become a leading player for basic registration software and services.”

Charly Zwemstra (Managing Partner Main Capital): “Main has a strategic focus and has entered into a long-term partnership with Exxellence Groep to support the company in its next phase of growth. After the combination with Zaaksysteem.nl in May this year, and T&T Vertrouwd Verbonden in August this year, this is another important step towards a leading position in the (semi-)public market, by means of a strong product and service range aimed at strategically supporting organizations within the public domain. ”


About Exxellence Groep
Exxellence Groep consists of Exxellence Zaken (case management software from Exxellence & Zaaksysteem.nl), Exxellence services (SMQ) and Exxellence Connect (T&T Vertrouwd Verbonden) and is located in Hengelo, Amsterdam and Eindhoven. Exxellence Groep has ca. 170 employees and serves more than 500 customers throughout the Netherlands, varying from municipalities and regional water authorities to housing corporations and care institutions. Examples of customers are the municipality of Utrecht, the municipality of Alkmaar, the Municipal Tax Office of Twente, the environment service Utrecht region and the country of Curaçao.

Exxellence Groep has a clear focus on municipalities and other (semi-)public bodies such as insurance companies and pension funds. Through its case management systems, self-service CRM and its integrations with the prominent basis registers, Exxellence Groep enables its customers to make connections between governments and residents, systems and processes, with the use of experts and smart tools.

In addition to software solutions, the Exxellence Groep carries out projects and services in the field of WOZ, BAG and BRP through consultancy, secondment and process outsourcing. The products and services of the Exxellence Groep optimally support governments in the DSO transition.


About Main Capital Partners
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, DACH and Nordics. Main has a long term horizon around successful partnerships with management teams, with the aim of building larger software groups together. Main has approximately € 1 billion in assets under management for investments in mature and growing software companies. Within the software sector, Main is the most specialized faction in management buyouts and later-stage growth capital for acquisitions. An experienced team of professionals manages these strategic investment funds from offices in The Hague, Düsseldorf and Stockholm.

Main Capital’s current portfolio includes fast-growing software and SaaS software companies such as Perbility (HR software), Pointsharp (Identity & Access Management), Textkernel (HR & AI software), MACH AG (E-Government software), WoodWing (marketing automation), Alfa (healthcare), Exxellence Groep (government software), Optimizers (supply chain software), Assessio (SWE, HR & Talent management), GBtec (Germ, process automation/workflow management)/GRC), Onventis (Germ, procurement & invoice management), HYPE Innovation (Germ, innovatie management / collaboration), Cleversoft (Germ, GRC for financial services), Enovation (Healthcare), SDB Groep (healthcare), Jobrouter (Germ,Process automation), GOconnectIT (GEO ICT), Inergy (data driven governmental solutions), MUIS Software (financial administrative), Artegic (Germ, marketing automation), OBI4wan (customer engagement & Chatbot platform), b+m Informatik (Germ, financial services), ChainPoint (sustainable supply chain tracking) en RVC (Healthcare). Succesvol uitgebouwde voormalige portefeuillebedrijven zijn onder meer Roxit (gemeentesoftware), Axxerion (facility management software), Ymor (APM software) en Onguard (creditmanagement). The combined turnover of the Main software companies sums up to approximately € 400 million and growing by double digits annually.


Note for the editor:
Sender of this press release is Main Capital. For more information please contact:

Charly Zwemstra (Managing Partner)
Main Capital Partners B.V., Paleisstraat 6, 2514 JA, Den Haag
Tel: +31 (0) 70 324 3433 / +31 (0) 6 5127 7805
charly@main.nl
www.main.nl

For more information on Exxellence Groep, please contact:
Michel Veenhuis (CEO)
+31 (0) 6 2189 5968
m.veenhuis@exxellence.nl
www.exxellence.nl

For more information on 4Value, please contact:
Marcel Dillissen (Managing Director)
m.dillissen@4value.nl
www.4value.nl

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Optimizers acquires Netivity facilitated by Main Capital

Main Capital

Optimizers and Netivity join forces to establish an international leader in e-commerce and Order-to-Delivery solutions.

The Hague, 23 December, 2020

Main Capital supports Optimizers with the acquisition of Netivity, a leading e-commerce webshop platform and provider of online sales conversion optimalization solutions. Both Optimizers and Netivity have a complementary product-offering, strengthening  the ability to help customers with solutions throughout the entire Order-to-Delivery chain. The combination has a joint revenue-level of EUR 16m and is growing with an autonomous revenue growth rate of over >20%.

Optimizers is an international provider of Saas-based software and mobile apps for supply chain,  logistics and e-commerce markets. From its offices in The Netherlands, Sweden and the US, Optimizers has 70 employees serving over 1000 international wholesale and trade companies in 28 countries.

Netivity has a strong and diversified customer-base consisting of hundreds of companies active in online FMCG,  home deco and food retail, servicing >25% of the Twinkle Top 250 webshops in the Benelux. Some examples are Fonq, SPAR and Intratuin.

Netivity has two flagship products called Netivity CORE and Tweakwise:

  • Netivity CORE is a leading e-commerce platform that can be personalized to customer needs, enabling larger high-volume B2B and B2C (e-)commerce webshops.
  • Tweakwise is a specialized SaaS suite focused on optimizing sales conversion on e-commerce websites. Tweakwise is a leading European player in the market for online search, merchandising and personalization.


Collaboration Netivity – Optimizers
Optimizers and Netivity are able to jointly strengthen its position in the Order-to-Delivery value chain. The combined organization has over 130 employees and shares a similar organization culture. Management of Netivity will stay on board and continue as shareholder of the group.

  • Stefan van Diggelen (CEO Optimizers): The acquisition of Netivity is fully in line with the strategy of Optimizers to serve customers with a full suite of products and services across the entire order-to-delivery chain. Netivity’s strong e-commerce solutions are valuable and complementary additions to the existing offering of Optimizers.
  • Stefan van Opstal (CEO Netivity): We are delighted to join Optimizers, as we expect that their strong international presence will increase our market potential. Also we have a great overlap in vertical focus, where we expect to help our e-commerce customers with an all-in-one suite for their most crucial business processes.

Main Capital invested in Optimizers in July 2019 in order to accelerate business growth in the coming years. The strategic combination of Optimizers with Netivity is a solid second step in this strategy after the acquisition of Eezeebee in July 2020.


About Optimizers
Optimizers is a fast growing provider of software solutions, specialized in trade- and production logistics to optimize customers’ logistics processes. Optimizers is the developer of App4Sales, a B2B trade suite for sales representatives, Warpspeed WMS, a next-generation Warehouse Management System and App2track, a next generation Transport Management System enabling efficient transport and planning, and route optimization.


About Main Capital
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital for strategic acquisitions. Main Capital has approximately EUR 1 billion under management for investments in mature but growing software companies in the Netherlands, Germany and Scandinavia. An experienced team of professionals manages the portfolio of software groups from offices in The Hague, Düsseldorf and Stockholm.

In addition to Optimizers, the current portfolio of Main Capital Partners includes fast-growing software and SaaS companies such as Perbility (HR Software), Pointsharp (Identity & Access Management), Textkernel (HR & AI software), MACH AG (E-Government software), WoodWing (marketing automation), Alfa (healthcare), Exxellence Groep (government software), HYPE (innovation management software), Assessio (HR & Talent management), GBtec (process automation / workflow management/ GRC), Onventis (procurement & invoice management), Cleversoft (GRC for financial services), Enovation (Healthcare), SDB Groep (Healthcare), Jobrouter (Process automation), GOconnectIT (GEO ICT), Inergy (data driven governmental solutions), MUIS Software (financial administrative), Artegic (marketing automation), OBI4wan (customer engagement & Chatbot platform), b + m Informatik (financial services) and ChainPoint (sustainable supply chain tracking). Successful former companies that have grown substantially under the guidance of Main are: Connexys (HR software), Roxit (municipal software), Axxerion (facility management software), Ymor (APM software), Onguard (credit management), Denit (managed hosting provider) and RVC (Healthcare).

Note for the editor:
For more information, please contact:

Charly Zwemstra (Managing Partner) – NL
Main Capital Partners B.V., Paleisstraat 6, 2514 JA, Den Haag
Tel: +31 (0) 70 324 3433 / +31 (0) 6 5127 7805
charly@main.nl
www.main.nl

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columbus-enters-into-agreement-regarding-divestment-of-to-increase

Gilde Buy Out

Columbus enters into agreement regarding divestment of To-Increase December 21, 2020 Today, Columbus A/S entered into an agreement to divest its software subsidiary To-Increase to Gilde Buy Out Partners and the management of To-Increase for a price (Enterprise Value) of EUR 113m. The agreement has been entered into following a binding offer which Columbus received from Gilde Buy Out Partners today. The transaction is subject to Works Council consultation procedures being finalized in accordance with Dutch law. The transaction is expected to be completed during January 2021.
The agreement is part of the strategic review of Columbus’ portfolio and follows the decision made by Columbus’ Board of Directors to initiate a structured sales process to explore the possibility of divesting the software company To-Increase as part of Columbus’ new strategic direction to become a global consultancy. This decision was announced in Company Release no. 16/2020 of 28 October 2020.
Columbus’ decision of becoming a true global consultancy entails a more focused and simplified operation with increased customer centricity and a more digital advisory approach. The decision led Columbus to explore the opportunities to identify a buyer of To-Increase with a more aligned strategy and in a better position to realize the full potential of To-Increase.
Chairman of the Board in Columbus, Ib Kunøe, says: “I am very pleased to announce Gilde Buy Out Partners as the new owner of To-Increase. I am convinced Gilde Buy Out Partners will be a great owner of To-Increase which is a global SaaS leader of Azure based business applications. The divestment of To-Increase is a major step in Columbus’ strategic journey to become a true global consultancy. Columbus can now focus its business on becoming a digital trusted advisor for our larger customers”.
Maurits Boomsma, Partner at Gilde Buy Out Partners says: ”We look forward to partnering with the management team led by Luciano Cunha and to supporting their growth plans. To-Increase is an established leader in the fast-growing Microsoft Dynamics based business applications software market with innovative software solutions for their customers. With the right backing, we believe To-increase is well positioned for a phase of organic growth acceleration, continuing its track record of double-digit recurring revenue growth and further bolt-on M&A”.
Luciano Cunha, CEO in To-Increase, says: “I want to thank Columbus for an exciting journey during the past 14 years contributing to positioning To-Increase as a global SaaS leader, and I look forward to continuing our close partnership in the years to come. We firmly believe Gilde Buy Out Partners is the right partner to help us accelerate the growth of our business and realize the full potential of To-Increase. Gilde Buy Out Partners understands and believes in our business plans and can provide the support needed to realize our ambitions. This new partnership will enable us to scale through the Microsoft Dynamics 365 channel by using technology to help our customers reach their goals. Our growth plans include scaling up our Go-To-Market teams and executing on high quality M&A to make a bigger impact on our combined customers and our focus markets.” Columbus is committed to support and resell To-Increase Software as a global strategic A-Partner and To-Increase is continuing to enable Columbus as a successful strategic partner.

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View Software Acquires MainManager and Expands to Eight Countries

Viking Venture

View Software has strengthened its position in the Nordic countries through the acquisition of MainManager, an Icelandic software company. With this acquisition, View Software will expand its customer portfolio to eight countries and open offices in Reykjavik and Copenhagen.

– Facility Management is a business area that is experiencing rapid growth globally. The future requires better solutions to ensure sustainability and cooperation across different subject areas, roles and systems. With this acquisition, we are strengthening our position as a provider of a sustainable facility management system. This is also a great stepping stone towards further growth in Europe, says Sten-Roger Karlsen, CEO of View Software.

View Software has high ambitions within this sector and has gone from 43 to 94 employees in 2020. By acquiring MainManager, the company is adding a great customer portfolio and 18 highly competent employees in Iceland, Norway and Denmark.

Buildings make up 40% of all CO2 emissions globally. 11% of this is embodied carbon from production of materials and construction work. The world is currently going through the largest wave of urban growth in human history. We are adding about 1,5 million people to cities every week. As a result, CO2 emissions in the building sector have continued to rise by nearly 1% each year since 2010.
Approximately two-thirds of the building area that exists today will still exist in 2050. At the same time, building renovations affect less than 1% of the building stock annually. This is a huge climate challenge, but also a great opportunity to ensure efficient measures are taken and to make a difference.

– To ensure we succeed with the targets outlined in the Paris Agreement, we need to substantially speed up our renovations in terms of energy efficiency. We need to optimize maintenance to increase the lifetime of existing buildings and continuously work to increase energy and environment efficiency. This is impossible without the right tools. View’s software makes sure that the players in the industry have the right solutions to succeed, says Karlsen.

When we enter 2021, View Software will be the next largest player in the Nordic countries within its sector. Annual recurring revenue (ARR) has grown by 400 % in three years and the company is the market leader within several verticals.

– Through the last few years, we have been working hard to ensure that our organization and work processes are scalable. This puts us in a great position for further European growth. We believe there will be a shift in value chains in the upcoming years. This requires us to be set up in a way which allows us to compete, and ensures that we acquire the resources we need to become the leading player. MainManager is a modern, user friendly, flexible and open solution that fits well in our product strategy, Karlsen continues.

– The MainManager team is very excited to get on board with View Software and Viking Venture family. We have found a perfect match to our vision, and ambition, to become a leading company in Facility Management in the Nordics and in other countries. We are experiencing a large shift in the building industry, where professional building owners are gaining more knowledge about the performance of their building portfolio. Using our tools will enable them to make more accurate decisions regarding new facilities, and more sustainable solutions, says Gunnlaugur B. Hjartarson, the founder of MainManager.

– MainManager is a great company that fits well with View Software and its strategy for further growth in the Nordic countries and in Europe. This is also a major step in becoming the leading player within sustainable facility management solutions. Viking Venture is excited to continue the work with View Software on strengthening its international footprint, says Joar Welde, Partner at Viking Venture and Chairman of the board at View Software.

View Software has raised NOK 41 million in equity and has a framework agreement in terms of loan of SEK 500 million that ensures capital for further acquisitions.

About MainManager
MainManager’s revenue was NOK 21 million in 2019 and has grown 20 % in 2020. The company has 18 employees in Reykjavik, Oslo and Copenhagen, and customers in 8 countries.

About View Software
View Software’s revenue was NOK 68 million in 2019. The company has shown strong growth over the last years, and is a leading software company within industrial maintenance, real estate and aquaculture.

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Onit Acquires AXDRAFT, Expanding its Contract Lifecycle Management Offerings with Robust Document Automation

K1

HOUSTON, December 17, 2020 – Onit, Inc., a leading provider of enterprise workflow automation and AI solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has acquired AXDRAFT, a Y Combinator-backed document automation company. The company helps corporate legal departments draft legal documents 10 times faster and complete contracts like nondisclosure agreements and service agreements in less than five minutes. Based in Kyiv, Ukraine, it was founded in 2017 and works with customers including Sandoz and Louis Dreyfus Company.

AXDRAFT is now AXDRAFT, an Onit Company, and will operate as an independent subsidiary. This acquisition is Onit’s third in the last 19 months and the second deal announced in 30 days.

“The acquisition of AXDRAFT underscores our continued commitment to innovation for all of our offerings and particularly in the area of contract lifecycle management,” said Eric M. Elfman, CEO and co-founder of Onit. “In 30 days, we’ve added an AI-based contract management product that significantly streamlines contract review, and now with AXDRAFT, we offer lightning-speed, error-free and multilingual contract drafting.”

In November, Onit acquired legal AI company McCarthyFinch and immediately launched Precedent, its intelligence platform, and ReviewAI, software that accelerates contract review by up to 70% and improves user productivity by more than 50%.

“Disruption is in Onit’s DNA, from launching the industry’s first no-code business process and automation platform, Apptitude, to bringing machine learning and natural language processing to the practice of contracting with Precedent and ReviewAI. We’re also the first in our space to offer two platforms, one for workflow automation and one for artificial intelligence. AXDRAFT is a disruptor to old-line businesses in the document generation space and our guidance and resources will help the company scale significantly, secure new customers worldwide and contribute to Onit’s aggressive growth strategy,” continued Elfman.

AXDRAFT offers a proprietary algorithm with streamlined and extensible document drafting in multiple languages, including Chinese and Japanese. It supports live document preview and data integrations. With the algorithm, a document of any complexity can be transformed into a simple Q&A process.

AXDRAFT will be led by co-founder Yuriy Zaremba, who is now General Manager. Co-founder Oleg Zaremba, who holds master’s degrees in applied mathematics, material sciences and quantum physics, will serve as CTO.

“When I was a lawyer, I experienced how routine legal work can be when you draft the same types of documents over and over again. It’s a process that invites mistakes and keeps attorneys from focusing on higher-value contributions. That led me to start AXDRAFT with Oleg,” explained Yuriy Zaremba. “AXDRAFT drafts the contracts and other legal documents in less than five minutes, making it significantly easier for legal professionals to maintain accuracy and collaborate with the businesses they support. We’re excited to join Onit and begin the next phase of the company’s evolution.”

“One of the core differentiators of AXDRAFT is our proprietary document automation language. It allows us to quickly onboard customers’ documents into AXDRAFT at no cost and offer a truly turnkey solution,” said Oleg Zaremba.

AXDRAFT is available immediately as a stand-alone, out-of-the-box document automation tool. To learn more about the acquisition, listen to the Onit podcast featuring Eric Elfman and Yuriy Zaremba or visit AXDRAFT online.

About Onit     

Onit is a global leader of workflow and artificial intelligence platforms and solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform the way Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.

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Montagu to acquire Capita’s ESS business and invest in ParentPay Group

Montagu

Montagu to acquire Capita’s ESS business and invest in ParentPay Group

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announces it has agreed to acquire the Education Software Solutions business (“ESS”) of Capita plc and has also agreed to invest in ParentPay Group (“ParentPay”), a leading provider of education technology. Following successful completion of both investments, ESS will become part of the ParentPay Group.

ESS is a standalone provider of management information system and related software for the education sector. ESS’ flagship product SIMS is used by 19,000 schools in the UK and internationally to collect and manage a database of student information and core school operations.

ParentPay delivers online payments, income management, parental engagement and school catering solutions to over 18,000 schools and caterers across the UK, the Netherlands and Germany.

Through the acquisition of ESS and the subsequent proposed investment, Montagu and ParentPay intend to bring together two high-quality and complementary businesses in the education software market. Montagu and ParentPay intend to utilise their combined expertise and network to support and accelerate innovation within the product portfolio, including the roll-out of ESS’s cloud-native SIMS 8 and other value-add services to schools and parents, catering to their increasingly sophisticated needs.

Edward Shuckburgh, Director at Montagu, said: “We are excited to be backing ESS which is an excellent fit for Montagu’s investment strategy, providing essential services to an extensive customer school base and operating in a market with attractive secular growth drivers. With ParentPay, we are also delighted to be bringing together two businesses with complementary products and shared values, with the ultimate aim of broadening the companies’ respective leading offerings to further benefit end customers.”

Mark Brant, CEO of ParentPay, said: “As one of the UK’s earliest ‘fintechs’, innovation has always been at the heart of ParentPay. By continually adapting and investing we ensure our customers in the UK, the Netherlands and Germany can count on us. Together with ESS and Montagu we will be able to further accelerate innovation in our sector. We look forward to welcoming the ESS team into the ParentPay Group and working closely with Montagu to further enhance the value we deliver to our collective customers.”

Andy Bennett, Managing Director of ESS, said: “We are very pleased with the sale to Montagu, a proven, collaborative investor in high-quality companies and the intention to become part of the ParentPay Group. This deal will provide significant opportunities to grow our business and bring further value to our employees and customers.
We look forward to working with our new owners to support and accelerate innovation within our product portfolio particularly with our SIMS product as we continue to improve and enhance how we support staff in over 19,000 schools across the UK with the tools to manage school life.”

Completion of the ESS sale to Montagu is subject to approval from Capita’s shareholders and the proposed investment in ParentPay is subject to CMA approvals.

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FSN Capital V* has signed an agreement to acquire 100% of TASKING

Fsn Capital

 

FSN Capital V* has signed an agreement to acquire 100% of TASKING, a leading provider of software tools for autonomous driving development, from Altium Limited.

TASKING offers high-performance, embedded software development tools for automotive OEMs and Tier 1 suppliers. Its strategic partnerships with semiconductor manufacturers, OEMs, and suppliers makes TASKING a leading player in the embedded software development industry for advanced driving assistance systems (ADAS) and autonomous driving.

TASKING provides complete development environments that allow software engineers to create reliable, safe, and high-performance embedded software applications. Over 50,000 engineers around the globe rely on TASKING compilers and debuggers every day for their development needs and millions of cars are running on code developed with TASKING’s tools.

Robin Mürer, Partner at FSN Capital Partners (investment advisor to the FSN Capital Funds) , commented: “The automotive industry is seeing a fundamental shift to software powered capabilities – not least to achieve autonomous driving over time. At the same time, the requirements and regulations for software in automotive applications are disparately higher than in most other industries. TASKING is a market-leader in development tools for safe, secure and performant software development. We are excited to partner with Franz Maidl and the highly skilled TASKING team in Germany, the Netherlands, Russia, the US, China, India and Japan as we see opportunities to expand TASKING’s product range and drive their presence with customers around the world.”

Franz Maidl, GM at TASKING, said: “The acquisition will establish TASKING as a leading independent software provider for safety critical applications. FSN Capital will provide TASKING with the flexibility to fuel our many growth opportunities as a standalone company.  The backing of FSN Capital is testament to the tremendous track record our products and employees have delivered so far, as well as the growth opportunity and demand in our markets.  The entire TASKING team is thrilled to continue the journey together and is looking forward to a bright future for our solutions, our team, and especially our customers”. 

The transaction was executed on a proprietary basis by FSN Capital V. It is subject to approval from applicable authorities.

To learn more about the company, please go to: https://www.TASKING.com/

FSN Capital V was advised by McKinsey, Altos Advisors, PwC, Latham Watkins, Crosslake International, Frank Partners and Marsh.

* FSN Capital GP V Limited acting in its capacity as general partner for and on behalf of each of FSN Capital V L.P., FSN Capital V (B) L.P. and FSN Capital V Invest L.P. 

For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds):

Robin Mürer, Partner
rm@fsncapital.com 

Morten Welo, Partner & COO/IR
mw@fsncapital.com

This Press Release does not constitute an offer or solicitation in any jurisdiction to invest in FSN Capital VI and should not be considered to be an invitation or inducement to engage in any investment activity.

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