Summit Partners exits Actix in $120m deal


???????????????????????????????Private equity firm Summit Partners is set to exit Actix after agreeing to sell the UK-based mobile optimization software company to Amdocs for $120m.

Summit took control of the business by backing its management buyout in 2005. During Summit’s ownership, the company developed its optimisation platform ActixOne.

Summit Partners managing director and former Actix chairman Scott Collins said, “It has been a pleasure to work with Actix and its exceptional management team.

“Our work with Actix exemplifies what Summit does best—partner with outstanding management teams to help them extend their leadership positions.”

Last month Summit invested $14m in cloud-based electronic medical record system provider Modernizing Medicine.

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