Hg Capital backs insightsoftware, which describes itself as a global provider of enterprise software solutions for the ‘Office of the CFO’.
The Hg Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates. The transaction values the business at an enterprise value of around $4bn. TA and Hg will share joint control of the company. As part of the transaction, insightsoftware will also continue to be supported by minority shareholders Genstar and ST6.
HgCapital Trust will invest approximately £40m in insightsoftware, with other institutional clients of Hg investing alongside HGT through the Hg Saturn 2 Fund. Following this deal, the trust will have liquid resources of £179m, about 12% of NAV, and outstanding commitments to Hg funds of £442m.
insightsoftware is a leading provider of financial reporting and enterprise performance management (EPM) software, enabling the ‘Office of the CFO’ to connect to and make sense of enterprise data in real time so they can proactively drive greater financial intelligence.
insightsoftware was formed in 2018 by TA and ST6. Since then, the business has grown rapidly, building a suite of software products across reporting, budgeting & planning, close & consolidation, tax, disclosure and equity management. Today, more than 28,000 customers worldwide rely on these products to provide them with increased productivity, visibility, accuracy and compliance across their organizations. Headquartered in Raleigh, NC, with offices around the world, insightsoftware has more than 1,000 employees serving over 600,000 global users.
HGT : Hg Capital backs insightsoftware