Nintex, which operates in over 90 countries, is a global software group that sells products via a close relationship with Microsoft. Photo: AP
Australian technology company Nintex Group has confirmed American private equity firms TA Associates and Updata Partners will take majority ownership.
TA Associates and Updata Partners said they planned to make a significant investment in the Nintex, a global provider of workflow software solutions.
As reported on afr.com on Wednesday, Macquarie Group is selling part of its 25 per cent stake in Nintex, in an overall deal believed to be worth more than $200 million. The remaining 75 per cent of Nintex was owned by management and seed investors.
Nintex is a global software group that sells products via a close relationship with Microsoft.
It operates in more than 90 countries, has over 4000 customers and provides software and cloud services to automate business processes.
Founded in Melbourne by Brian Cook and Brett Campbell, it develops products to take advantage of new developments in Microsoft technologies and strategies.
"TA Associates and Updata Partners will enable Nintex to accelerate its growth, further expand internationally, and offer its customers and partners new and exciting innovative products," Nintex chief executive Mr Cook said in a statement.
Mr Campbell said it chose TA and Updata for their "extensive experience and proven track record helping established software companies become standout market leaders".
Nintex has global headquarters in Melbourne and sites in Washington in the United States, Kuala Lumpur and London.
Harry Taylor, a director at TA Associates who will join Nintex's board, said it was an attractive investment due to strong organic growth and momentum, a successful global partner distribution network, exceptional customer satisfaction and a deep management team.
Macquarie Capital division director Glen Butler said it would retain a minority ownership position in Nintex.
"We are pleased TA and Updata will be joining Macquarie Capital as investors in Nintex," Mr Butler said.
"As an innovative business providing user-friendly workflow tools, Nintex is well-positioned to continue its impressive growth."
Allens is serving as legal counsel and Spurrier Capital Partners and Macquarie Capital are providing advisory services to Nintex.
Gilbert + Tobin and Goodwin Procter are providing legal counsel and KPMG is providing accounting advisory services to TA Associates.
Proskauer Rose is serving as legal counsel to Updata Partners.
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