Sale in sixty days of portfolio companies Jobs2Web ($110 million) and Numara Software ($300 million)
Updata Partners, a leading technology-focused growth equity firm, today announced that it has exited two portfolio companies in the past sixty days for a total of $410 million in transaction value, generating a return on its invested capital in those companies of over 4.5 times.
“We are delighted with these positive results for our investors. The two transactions illustrate the success of Updata’s growth equity strategy of investing in growing and differentiated software and technology businesses, focused on market sectors that we know well, and applying our experience and network to drive substantial value,” said Barry Goldsmith, general partner of Updata Partners. “We look forward to announcing more positive results over the coming months.”
Jobs2Web Sale to SuccessFactors
On December 6, Updata portfolio company Jobs2Web announced that it would be acquired by SuccessFactors (Nasdaq: SFSF) for $110 million in an all cash deal. Jobs2Web provides cloud-based employee recruiting and career site optimization solutions to businesses. SuccessFactors had announced it would be acquired by SAP days prior to this news. Updata provided the first institutional capital to Jobs2Web in 2006, and during five years as an Updata portfolio company, Jobs2Web grew its revenue at a 70% compound annual growth rate.
Jobs2Web chief executive officer, Ken Holec, commented, “Updata was a great partner who was hands on when it mattered, helping us get a complex deal done, particularly with the SAP-SuccessFactors transaction announcement coming right at our closing. I am proud of the outcome we generated together for all of the stakeholders in Jobs2Web.”
Numara Software Sale to BMC
On January 31, Updata portfolio company Numara Software announced that it would be acquired by BMC Software (Nasdaq: BMC) for $300 million in an all cash deal. Numara provides integrated Service and IT Asset Management software solutions targeted to the mid-market. Updata acquired Numara with co-investor TA Associates in 2005, and Updata was actively involved in the business from the time of investment, driving acquisitions and strategy, and serving as chairman and interim CEO at a crucial point in the company’s development.
David Hansen, Numara Software’s chief executive officer, stated, “Updata was a great investor, working closely with the management team on strategic acquisitions and planning, and when it was attractive to exit, their industry relationships, expertise and involvement were invaluable.”
For more information, please visit www.UpdataPartners.com.
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm with nearly $500 million of capital under management. Updata invests in high-growth software, internet, and technology-enabled services companies with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm’s financial backing and the operating expertise of their partners will accelerate growth. Updata’s limited partners include major university endowments, corporations, and pension funds.
Contacts
Updata Partners
Tammy Falco, 703-464-7277
tfalco@updata.com