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Northzone Ventures exits cloud computing company Nimsoft

17 Mar 2010

Nordic venture capital firm Northzone Ventures, along with software- and IT-focused private equity firm JMI Equity and Goldman Sachs, has exited its investment in could computing company Nimsoft via a $350m strategic sale.

The company, which allows users to monitor IT systems’ performance by aggregating and integrating elements into one dashboard, has been picked up by Nasdaq-listed IT management software company CA.

Nimsoft has also developed applications for large web corporations such as Google Apps for Business, The Rackspace Cloud, Amazon Web Services and EC2.

CA acquired the business to expand its product range and sees the market trend towards cloud computing.

In January of 2007, Nimsoft received $10.3m in a series A round of funding from JMI Equity and Northzone Ventures, while Goldman Sachs led a series B round of $12m in October 2008, which also included JMI and Northzone.

Gary Read, Nimsoft president and CEO, said, “CA and Nimsoft are a perfect match. We are joining a company that wrote the book on enterprise management. We’re bringing a very strong track record of success in the hosted and managed services segment and with mid-market enterprises. CA clearly shares our commitment to address customers’ evolving requirements for the management of their IT systems, including their move to virtualisation and the cloud.”

Northzone, a prominent European venture firm and investor in both of Nimsoft’s series A and B rounds, has raised a total of €445m in six funds to date, holding the first close of Northzone VI on €90m last month.

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