PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

TA Associates acquires and combines Global Software and insightsoftware.com International

TA Associates, a leading global growth private equity firm, has acquired and combined Global Software and insightsoftware.com International, two 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. 
 
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,” says Lipps. “I’m incredibly energised 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,” adds 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,” says 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 organisation will bring to market.
 
“Having real-time access to our financial and business data is critical for our business to run smoothly,” says 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. 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured