Thoma Bravo Announces Sale of Portfolio Co. Digital Insight
THOMA BRAVO ANNOUNCES SALE OF DIGITAL INSIGHT TO NCR
San Francisco – Dec 2, 2013 – Thoma Bravo, LLC, a leading private equity investment firm, announced today the sale of portfolio company Digital Insight Corporation, a leading provider of digital banking capabilities to financial institutions, to NCR Corporation, the global leader in consumer transaction technologies, for $1.65 billion. The sale is expected to close in Q1 2014.
“Thoma Bravo was able to establish Digital Insight as a standalone company following our acquisition from Intuit in August, while also offering Intuit a successful and efficient outcome,” said Thoma Bravo managing partner Orlando Bravo. “Digital Insight has attracted interest from NCR with its strong set of online and mobile banking products, rich client list, and accomplished employees.”
“Thoma Bravo was an experienced and trusted partner during our carve-out from Intuit, and I appreciate the effort from our team at Digital Insight,” said Digital Insight CEO John O’Malley. “Thoma Bravo gave us the tools and knowledge to succeed as a standalone company and we look forward to our next stage with NCR.”
“It was a pleasure to work with the leadership team at Digital Insight, and we wish them the best as part of NCR’s Financial Services line of business,” said Thoma Bravo managing partner Holden Spaht.
Digital Insight, formerly Intuit Financial Services, a division of Intuit, Inc., was acquired by Thoma Bravo in August of 2013. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm applies its own industry consolidation investment strategy and process, which seeks to create value by partnering with a company’s management to improve business operations and make strategic acquisitions that will accelerate growth. Thoma Bravo invests across multiple industries, with a particular focus on application and infrastructure software and financial and business services. The firm currently manages a series of private equity funds representing more than $4 billion of equity commitments. For more information, visit www.thomabravo.com.
About Digital Insight
Digital Insight helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money. Applying customer insights and innovation to design its products, Digital Insight provides solutions that help financial institutions achieve higher customer engagement and profitability.