TPG Agrees to Make Majority Investment in Digital Process Automation Leader Nintex
PR92118
BELLEVUE, Wash., Oct. 6, 2021 /PRNewswire=KYODO JBN/ --
-- Thoma Bravo Plans to Make a New Equity Investment in the Company and
Maintain a Significant Minority Interest. TPG and Thoma Bravo Expect
to Work Together to Accelerate the Company's Digital Process Automation
Success.
Nintex (
https://c212.net/c/link/?t=0&l=en&o=3312393-1&h=343828809&u=https%3A%2F%2Fwww.nintex.com%2F&a=Nintex
), the global standard for process management and automation, today announced a
definitive agreement to sell a majority stake in the company to TPG Capital (
), the private equity platform of global alternative asset firm TPG. Across its
platforms, TPG has invested in leading software companies including C3 AI,
Planview, ThycoticCentrify, WellSky, and Zscaler. Nintex's current majority
investor, Thoma Bravo (
), a leading software investment firm, plans to make a new equity investment in
the company and maintain a significant minority interest. The transaction is
expected to be completed by the end of 2021, subject to customary closing
conditions.
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Logo - https://mma.prnewswire.com/media/700078/Nintex_Logo.jpg
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Nintex is a strong, growing business that offers the most powerful,
easy-to-use, and complete platform in the digital process automation industry.
The company expanded its process solution capabilities from digital forms and
workflow to its next-generation cloud platform with intelligent forms, advanced
workflows, digital document generation, eSignatures, and robotic process
automation (RPA). Nintex also provides the industry's most powerful process
management solution through Nintex Promapp(R), its collaborative solution for
intuitively capturing, mapping, documenting and supporting all kinds of
organizational work processes.
"In today's landscape, digital process automation and management are critical
to any company's ability to work effectively and efficiently," said Nehal Raj,
Co-Managing Partner of TPG Capital. "The automation of the enterprise is a core
investment theme for our software team, and we believe Nintex is at the
forefront of enabling this transformation. While the company serves thousands
of organizations today, we believe they are only scratching the surface in
terms of the breadth of departmental and industry process solutions needed. We
look forward to working with the teams at Nintex and Thoma Bravo to accelerate
the company's growth."
"It is an exciting day for every member of the Nintex global community," said
Nintex CEO Eric Johnson. "Our mission continues to focus on improving the way
people work through process management and automation, and with the support of
leading software investors like TPG Capital and Thoma Bravo, the future of
Nintex is extraordinarily bright. It is a mission-critical time to be a part of
the worldwide automation movement and we can't wait to further delight our
customers and partners with continued product innovation and valuable programs
that fuel their ongoing success."
An Unwavering Commitment to Customer Success
Today, hundreds of partners and more than 10,000 organizations across state,
local and federal governments, and major industries like healthcare, financial
services, technology, and manufacturing turn to Nintex Process Platform to
accelerate digital transformation and business outcomes. The platform's
complete process mapping and automation capabilities help thousands of IT
teams, operations professionals, business analysts and app developers manage,
automate, and optimize business processes across departments and industries in
faster and more fluid ways.
During the nearly four years of Thoma Bravo's majority sponsorship, Nintex
delivered strong organic innovation and completed four strategic acquisitions
that significantly expanded the breadth and depth of its digital process
solutions. It acquired a visual cloud-based process mapping and management
solution offered today as Nintex Promapp(R), which includes easy, one-click
generation of workflows through the Nintex Workflow Cloud; a robotic process
automation (RPA) tool known as Nintex RPA featured in the 2021 Gartner(R) Magic
Quadrant(TM) for RPA; complementary workflow and process automation
technologies including sophisticated app development tools known as Nintex K2
Five and Nintex K2 Cloud; and, most recently, a secure electronic signature
solution offered today as Nintex AssureSign.
"We are thrilled with the pace of innovation, operational rigor, and financial
results delivered by Nintex over the last few years," said Hudson Smith, a
Partner at Thoma Bravo. "From product engineering to marketing, sales, and
customer success, Nintex has been laser focused on what matters most – ensuring
the success of everyone leveraging Nintex software to improve and automate
business. We're very optimistic about Nintex's future and look forward to our
continued partnership with the company."
The Nintex Process Platform has been recognized by several independent research
firms, including Forrester Research(1), Aragon Research(2), 451 Research(3) and
IDC,(4) as a leader in the following categories: digital process automation
(DPA), digital transaction management (DTM), workflow and content automation
(WCA), intelligent process automation (IPA), digital business platform (DBP),
and digital automation platform (DAP). Companies like Zoom Video
Communications, Inc., Coca-Cola Beverages Florida, LLC, AstraZeneca, and
Nationwide leverage Nintex's solutions to turn manual and repetitive work
processes typically done over paper or email into streamlined, strategic
digital workflows, with intelligent forms, RPA and eSignatures.
In partnership with TPG Capital, Nintex will invest more R&D resources in its
market-leading automation solutions, expand its go-to-market programs, and
continue adding complementary process technologies to support demand for its
software platform. Nintex is hiring additional talent in engineering, product
management, marketing, sales, and customer success. Today, the company has more
than 850 team members around the world who have embraced remote and hybrid work
models and are committed to ensuring Nintex continues to be a great place to
work.
Morgan Stanley & Co. LLC is serving as financial advisor to TPG Capital. BofA
Securities is serving as lead financial advisor and Macquarie Capital is
serving as co-financial advisor to Nintex. Debt financing for the transaction
is being provided by Blackstone and Thoma Bravo Credit. Ropes and Gray is
serving as legal counsel to TPG Capital, Kirkland & Ellis is serving as legal
counsel to Thoma Bravo, and Wilson Sonsini as legal counsel to Nintex.
1 – The Forrester Wave(TM): Digital Process Automation for Wide Deployments, Q1
2019
2 – The Aragon Research Globe(TM) for Digital Transaction Management, 2021; The
Aragon Research Globe(TM) for Digital Business Platforms, 2021; The Aragon
Research Globe(TM) for Workflow and Content Automation, 2021
3 – 451 Research Pathfinder Report: Process Discovery, Automation &
Intelligence, Essential Technologies for Digital Business, 2019
4 – IDC: Worldwide Intelligent Process Automation Software Forecast, 2021-2025
– Doc # US48015622
Media Contacts
Nintex
Kristin Treat
kristin.treat@nintex.com
215-317-9091
TPG
Luke Barrett and Courtney Power
media@tpg.com
415-743-1550
Thoma Bravo
Megan Frank
mfrank@thomabravo.com
212-731-4778
or
Joe Berg
Joe.Berg@FGH.com
203-984-2771
About Nintex
Nintex is the global standard for process management and automation. Today more
than 10,000 public and private sector organizations across 90 countries turn to
the Nintex Platform to accelerate progress on their digital transformation
journeys by quickly and easily managing, automating and optimizing business
processes. Learn more by visiting www.nintex.com and experience how Nintex and
its global partner network are shaping the future of Intelligent Process
Automation (IPA).
About TPG
TPG is a leading global alternative asset firm founded in San Francisco in 1992
with $108 billion of assets under management and investment and operational
teams in 12 offices globally. TPG invests across five multi-product platforms:
Capital, Growth, Impact, Real Estate, and Market Solutions. TPG aims to build
dynamic products and options for its clients while also instituting discipline
and operational excellence across the investment strategy and performance of
its portfolio. For more information, visit www.tpg.com or (at) TPG on Twitter.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more
than $83 billion in assets under management as of June 30, 2021. The firm
invests in growth-oriented, innovative companies operating in the software and
technology sectors. Leveraging the firm's deep sector expertise and proven
strategic and operational capabilities, Thoma Bravo collaborates with its
portfolio companies to implement operating best practices, drive growth
initiatives and make accretive acquisitions intended to accelerate revenue and
earnings. Over the past 20 years, the firm has acquired more than 325 companies
representing over $100 billion in enterprise value. For more information, visit
thomabravo.com.
Product or service names mentioned herein may be the trademarks of their
respective owners.
Source - Nintex
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