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Thoma Bravo agrees to sell on Digital Insight for $1.65bn after just four months

3 Dec 2013

dollar3_170sqThoma Bravo has agreed to sell banking services business Digital Insight for $1.65 just four months after picking up the company in a $1.025bn deal.

The US private equity firm said the sale of the mobile and digital banking provider to NCR was expected to close in the first quarter of next year.

Thoma Bravo managing partner Orlando Bravo said, “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.

“Digital Insight has attracted interest from NCR with its strong set of online and mobile banking products, rich client list, and accomplished employees.”

The company was renamed Digital Insight from its former title of Intuit Financial Services following the buyout from the parent company.

Digital Insight was launched in 1995 as a pioneering internet banking provider, and was renamed following its purchase by Intuit in February 2007.

Thoma Bravo raised $1.25bn for its latest buy-out fund in February last year.

Thoma Bravo Fund X has continued the firm’s buy and build strategy in consolidating industries with a focus on enterprise and infrastructure software and financial and business services.

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