Thoma Bravo has sold portfolio company Digital Insight, a provider of digital banking capabilities to financial institutions, to NCR Corporation for USD1.65bn.
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,” says 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,” says 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.”
Digital Insight, formerly Intuit Financial Services, was acquired by Thoma Bravo in August 2013. Kirkland & Ellis served as legal advisor to Thoma Bravo.
