TA Associates, JMI Equity and TCV have sold Global 360 to OpenText
Client: TA Associates Management, JMI Equity and Technology Crossover Ventures
Client Location: United States
Target: Global 360
Target Location: United States
Acquirer: OpenText Corporation
Acquirer Location: Canada
Target Description: Global 360 provides business process management and optimization solutions.
The Deal
OpenText acquired Global 360’s competitor Metastorm earlier in the year, and therefore had a predisposed position on valuation. Through the Lincoln team’s ability to mediate between the two parties, keeping the lines of communication open, Global 360 was ultimately sold for a revenue multiple that reflected a more than 25% increase over the price of the earlier purchased competitor.
Our Perspective
“We worked together with Global 360 for over a year reintroducing the company to all of the potential acquirers, with a focus on highlighting its transition away from legacy document management software and growing leadership in the business process management and dynamic case management space,” noted Clark Spurrier, Managing Director at Lincoln. “I truly enjoyed helping this best-in-class late-stage private software vendor, backed by elite investors, articulate its unique value proposition to strategic buyers who had not tracked the company’s innovation.”
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