Acquisition of Magnitude Software Inc.

Technology & Services
Acquisition of Magnitude Software Inc.

Summary

Baird served as exclusive financial advisor to 3i Group plc on this transaction

About

3i Group plc (“3i”) has acquired Magnitude Software Inc. (“Magnitude”), a portfolio company of Audax Management Company, LLC (“Audax”). The enterprise value of the transaction is $340 million.

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. 3i’s core investment markets are Northern Europe and North America. 3i’s Private Equity business has approximately £7.8 billion assets under management and employs 55 investment professionals in 8 countries across Europe, Asia and North America with portfolio operations in over 90 countries worldwide. 3i is headquartered in London, the United Kingdom.

Magnitude offers a range of software products which enable business users to access, extract and analyze data efficiently. Magnitude’s reporting and analytics, master data management, product information management, SAP productivity and data connectivity solutions provide access to and insights from trusted financial and non-financial information across enterprises. Magnitude has over 1,400 customers across a variety of sectors including manufacturers, retailers and financial services companies and its customer base includes 50% of the Fortune 100. Magnitude is headquartered in Austin, Texas

Since its founding in 1999, Audax has been focused on building leading middle market companies. Through a disciplined buy and build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $11 billion in assets under management across its private equity, mezzanine, and senior debt businesses. Audax is headquartered in Boston, Massachusetts.
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Technology & Services
Acquisition of Magnitude Software Inc.
Date
May 2019
Company
3i Group plc
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
Europe

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