TA Associates Announces Acquisition and Combination of Global Software, Inc. and insightsoftware.com International to Create Market-Leading ERP Reporting Platform
BOSTON & RALEIGH, N.C.--(BUSINESS WIRE)--Jun 14, 2018--TA Associates, a leading global growth private equity firm, today announced the acquisition and combination of Global Software, Inc. and insightsoftware.com International, two leading ERP reporting and corporate performance management software companies. With over 6,000 enterprise customers globally and more than 75,000 end users, the combination creates the market-leading ERP financial and operational reporting platform. Financial terms of both transactions were not disclosed.
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The combined company will be named insightsoftware and will be led by new Chief Executive Officer, Michael Lipps. Mr. Lipps previously served as President and Chief Operating Officer of MercuryGate International and as Managing Director at LexisNexis, where he led the company’s Legal Software Division and Raleigh Technology Center. He also held several executive leadership positions during his 14-year career at Intuit Inc., including leading the company’s flagship Quickbooks Financial Software product line. “We’re bringing together the two premier companies in the ERP reporting and business intelligence space to create a world-class platform that helps business leaders make smarter, more informed decisions,” said Mr. Lipps. “I’m incredibly energized to help bring this next generation of world-class financial intelligence tools to our customers so they benefit immediately from the combination.”
The creation of insightsoftware also aligns Spreadsheet Server, the leading Microsoft Excel-based ERP reporting tool, and Hubble, the leading JD Edwards & Oracle E-Business Suite ERP performance management tool, under the direction of a single management team. “By combining these platforms, we’re able to offer our customers a broader set of product functionality, as well as fast access to a wider array of technical support experts and geographical support options,” added Mr. Lipps. “With TA Associates as our majority investor, we believe we are well-positioned to expand our capabilities, on-board the best talent in our industry and quickly bring new product functionality to market.”
“As more companies look to leverage their financial and business data in impactful ways, we believe insightsoftware is set to be the leading provider of data-driven intelligence that improves business outcomes,” said Hythem T. El-Nazer, a Managing Director at TA Associates. “We’re extremely excited about the opportunities in front of Michael and his management team, and we’re committed to ensuring they have the resources necessary to innovate and bring new products and functionality to customers over the coming weeks and months.”
With a large customer base already using insightsoftware’s products, there is excitement for what the new organization will bring to market.
“Having real-time access to our financial and business data is critical for our business to run smoothly,” said Clint Osteen, Sr. Director of IT at Granite Properties and current user of insightsoftware’s solutions. “insightsoftware’s tools enable us to get the most value out of our data, without the need for additional resources or large expenses to do so. We’re thrilled about the additional enhancements and product functionality that we’ll gain as a result of this combination.”
The new company will be headquartered in Raleigh, North Carolina, with global offices in Denver, Colorado; London, England; and Perth, Australia.
insightsoftware is on a mission to help companies turn their financial & operational data into better business outcomes that drive growth and ROI. Through their innovative, turn-key reporting and performance management solutions, insightsoftware provides users with real-time access to data-driven insights in an efficient, cost-effective and secure manner. Featuring integration support for over 130 tier 1 and tier 2 ERP systems, as well as full integration into Microsoft Excel, the company has the experience and flexibility to help business leaders unlock the power of their business data so they can understand, manage and optimize their business with ease. More information about insightsoftware can be found at www.insightsoftware.com.
About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is investing out of current funds of $7.25 billion. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
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PUB: 06/14/2018 06:00 AM/DISC: 06/14/2018 06:01 AM