TA, Updata to invest in Australian software specialist Nintex

Macquarie took an approximately 25% stake in the company three years ago and will retain an interest. The Wall Street Journal previously reported that TA and Updata were seeking a full acquisition that valued the Nintex at $222 million, allowing Macquarie to exit.

Nintex already has more than 4,000 customers in 90 countries, providing workflow solutions that enable organizations to automate business processes quickly and easily through drag-and-drop tools and cloud-based systems. The company also owns OBS, an IT services business that designs Microsoft-based solutions exclusively in Australia.

"Nintex is an attractive investment for a number of reasons, including strong organic growth and momentum, a successful global partner distribution network, exceptional customer satisfaction and a deep management team," said Harry Taylor, a director at TA.

Taylor will join the Nintex board alongside Edward Sippel, Asia Pacific managing principal at TA, and Kurt Jaggers, a managing director at the PE firm. John Burton and Jon Seeber will represent Updata on the board.

Brett Campbell, co-founder and global vice president of alliances at Nintex, said management chose to work with TA and Updata because of their experience in helping established software companies become market leaders.

This is TA's second technology-related investment in Australia. Last September, the private equity firm bought Hong Kong-based network and satellite communications service provider SpeedCast, and then completed the bolt-on acquisition of Australian Satellite Communications (ASC).

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• Topics
• Expansion
• Australasia
• Technology
• Australia
• TMT
• Growth capital
• TA Associates