Latest news with #FranciscoPartners
Yahoo
3 days ago
- Business
- Yahoo
NMI appoints new CEO
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Embedded payments player NMI, which processes $440 billion annually, has appointed former Billtrust President Steven Pinado as its next CEO, effective Sept. 2, according to a Tuesday NMI press release. Pinado most recently has been a partner at New York venture capital firm Radian Capital, where he worked with the firm's software company investments. He replaces Vijay Sondhi, who has been in NMI's top post for seven years. Sondhi will remain as an advisor through the end of the year, the release said. NMI board chairman Peter Christodoulo, a partner at NMI investor Francisco Partners, said Pinado's 'strategic mindset and deep expertise across payments and software make him the right person to lead NMI into its next phase.' Dive Insight: While the NMI release said Pinado would take the CEO post next month, his LinkedIn profile already had him in the role this month. His profile also showed he has served on the boards of several software companies that provide services, such as payments processing, to merchants. They included Browzwear, Helcim and Emporia Holdings. Schaumburg, Illinois-based NMI built a business on payments gateway services and has wooed financial institution clients with software aimed at helping banks compete with younger fintechs. Its mission has been to sell software to banks and other clients, which allows them to offer merchants payments tools that reduce friction for credit card transactions. NMI now caters to about one million clients, processing 5.8 billion in transactions annually, up from 550 million transactions when Sondhi arrived in 2018, according to the release. In an NMI blog post, Sondhi, a former Visa executive, said he made the decision to step down. He noted his track record included expanding NMI's annual payments volume nearly tenfold and integrating five acquisitions. Those purchases included the 2023 acquisition of the commercial division of payments software firm Sphere, and the year before, NMI bought payments customer relationship software firm IRIS. The privately held NMI has also attracted investments from the New York venture capital firm Insight Partners and Boston-based Great Hill Partners. Recommended Reading NMI aims to equip banks with modern payments tech
Bloomberg
5 days ago
- Business
- Bloomberg
BeyondTrust Owner Is Said to Explore Sale of Cyber Firm
Buyout group Francisco Partners is exploring a multibillion-dollar sale of cybersecurity firm BeyondTrust Software Inc., according to people familiar with the matter, seeking to tap in to heightened investor interest in security software offerings. Francisco Partners is working with bankers to gauge interest in a potential takeover of BeyondTrust, which specializes in so-called privileged access management solutions, the people said.
Daily Mail
11-08-2025
- Business
- Daily Mail
Little-known tech firm hires new CEO on $94 MILLION salary - 1,300 times more than average employee wage
A little-known tech firm has shattered Oregon pay records, handing its new CEO a staggering $94 million package, some 1,300 times more than the average employee's annual wage, in one of the most eye-popping corporate deals of the year. The Hillsboro chipmaker's board approved the payout to veteran tech executive Ford Tamer last September, luring him from investment firm Francisco Partners with a one-time, performance-based stock grant. The move comes less than a year after Lattice's stock plunged 15% in a single day - erasing $1.6 billion in value, when turnaround architect Jim Anderson abruptly resigned to lead a larger company. Investors cheered the hire with shares surging 12% the day Tamer's appointment was announced, adding $762 million in market value. Shareholders seem to approve. Over the last year Lattice's stock price has risen by almost 32%. 'By that metric, perhaps, Lattice shareholders have already gotten their money's worth,' The Oregonian noted, even as the company continues to battle sluggish demand for its programmable chips. Nearly all of Tamer's compensation is tied to Lattice hitting aggressive performance targets, but the optics are striking with no other Oregon company in the last year coming close to such a pay gap between CEO and worker. The blockbuster deal was disclosed in regulatory filings and confirmed in The Oregonian's annual review of executive compensation. According to federal filings, the median Lattice employee earns $72,000-a-year making Tamer's pay packet the biggest gap between executive and worker pay of any Oregon company - dwarfing even the top executives at Oregon's corporate heavyweights. Intel paid former CEO Pat Gelsinger $28 million in 2024, nearly 300 times its median worker's pay, while Nike's new CEO Elliott Hill earned $27 million, 545 times the average salary at the sportswear giant. Lattice has emphasized that Tamer's payout is an anomaly, tied to his recruitment and contingent on performance goals. The company has said it doesn't plan to award him additional stock grants before 2026, and his annual compensation will be 'much lower' going forward. But with the company's market position still below its pre-Anderson heights, and the semiconductor sector facing ongoing volatility, Tamer's tenure will be closely watched. The deal has revived debate over runaway executive pay in Portland, where companies face a special tax if CEO compensation exceeds 10 times the median employee's wage. The city collected $6.7 million from the surcharge last year, more than double what it raised when the tax debuted in 2017.
Yahoo
05-08-2025
- Business
- Yahoo
Francisco Partners to Acquire Legal Tech Solutions Provider Elite From TPG
NEW YORK & SAN FRANCISCO, August 05, 2025--(BUSINESS WIRE)--Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, today announced it will acquire Elite, a pioneer in mission-critical software and integrated payment solutions for the legal industry, from TPG Capital, the U.S. and European private equity platform of global alternative asset management firm TPG, and Thomson Reuters (TSX/Nasdaq: TRI). The acquisition will provide Elite with a new financial partner to help the company capitalize on its current momentum and continue to drive product innovation and growth. Terms of the transaction were not disclosed. Since partnering with TPG in 2023, Elite has furthered its leadership in the legal tech sector —modernizing operations, launching a cloud-native platform, expanding its cloud subscriber base, rolling out embedded AI capabilities, and integrating a native payments application. Elite has grown its leading cloud-based financial management product 3E to solve billing, payments, and accounting complexity industry-wide due to increased demand for these services over recent years. Across its solutions, Elite currently serves about 2,000 law firms, including 75% of the Am Law 100 and 72% of the Global 100. The business also expanded its native payments capabilities through its acquisition of B2B payments and invoice management platform Tranch, enhancing customers' ability to seamlessly manage invoicing and payment processes. "With Francisco Partners' financial support and extensive legal software and payments expertise, we are confident they are the right partner to help us continue to deliver our transformative products to the legal industry. Building on the success we achieved with TPG, this next phase positions Elite to scale faster, deepen our cloud and AI capabilities, and help law firms operate with greater speed, insight, and efficiency," said Mark Dorman, CEO of Elite. "Elite's powerful, cloud-based platform for large law firms positions it perfectly for long-term growth," said Peter Christodoulo, Partner at Francisco Partners. "We are excited to partner with CEO Mark Dorman and the entire Elite team as they continue to drive innovation in the legal technology sector," continued Evan Daar, Partner at Francisco Partners. "We're proud to have partnered with Mark and the team over the past two years to transform Elite from an innovative solution within a corporation into an independent, cloud-first legal tech provider central to law firms' operations," said Tim Millikin, Partner at TPG. "Elite is playing a critical role in the digital transformation of the legal industry, and we're confident they will continue to succeed in partnership with Francisco Partners," continued Akash Pradhan, Business Unit Partner at TPG. The transaction is expected to be completed in the third quarter of 2025, subject to customary closing conditions. Evercore served as exclusive financial advisor and Davis Polk & Wardwell LLP served as legal advisor to Elite and TPG. Centerview Partners LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Francisco Partners. About Elite Since its founding in 1947, Elite has transformed law firms with innovative technologies that are at the center of their success. Today, Elite is a leading, independent technology company that continues to develop cutting-edge digital financial solutions that drive success for the world's most successful law firms. Visit to learn more. About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit About TPG TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $258 billion1 of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit 1 AUM as of March 31, 2025, including AUM attributable to TPG Peppertree on a pro-forma basis. View source version on Contacts Media:Elite: Riva Francisco Partners: Prosek PartnersPro-FP@ TPG: Courtney Powermedia@ Sign in to access your portfolio
The Wire
01-08-2025
- Business
- The Wire
Clinisys acquires Orchard Software
Strategic acquisition strengthens Clinisys's leadership in laboratory informatics across the full spectrum of healthcare, life sciences, and public health. BANGALORE, India and TUCSON, Ariz., Aug. 1, 2025 /PRNewswire/ -- Clinisys today announces the acquisition of Orchard Software from Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. The acquisition brings together two leaders in the LIS market and reaffirms Clinisys's continued commitment to provide the laboratory informatics marketplace with cutting-edge software advancements. The combined capabilities provide for comprehensive, flexible and scalable informatics offerings that can better serve customers across the global diagnostics market. "Joining forces with Clinisys marks a powerful new chapter for Orchard," said Billie Whitehurst, Orchard's CEO. "Our mission has always been to equip laboratorians with the tools they need to provide high-quality, efficient care. Clinisys shares that commitment and brings the global scale and innovation expertise needed to advance that mission even further." "We are excited to welcome Orchard to the Clinisys family," said Michael Simpson, Clinisys's CEO. "As a global leader in lab informatics, with over 45 years of domain experience, Clinisys has a clear strategy to create and deliver the next evolution of cloud‑based laboratory solutions. As we continue to pursue excellence in developing both our world class solutions and our industry expertise, expanding with Orchard's proven solution in the physician-office, reference, and veterinary laboratory space was a clear decision for us. Together, we can better serve the entire spectrum of lab and diagnostic customers by enabling healthier and safer communities worldwide." Francisco Partners acquired Orchard Software in 2019, and since investing in the company the firm has implemented a strategic transformation of the business, including modernizing Orchard's product suite, enhancing its cloud solutions and strengthening its leadership team. "We are incredibly proud to have partnered with Orchard and supported its growth story over the past few years," said Anders Mikkelsen, Principal at Francisco Partners. "We would like to thank Billie and the Orchard management team for their outstanding work to position the company for long-term success. Clinisys and Roper Technologies are the ideal strategic partners to support Orchard's next growth chapter, and we look forward to seeing the company continue to thrive." The combination of Orchard's LIS portfolio and Clinisys's LIMS and diagnostic solutions creates new opportunities for customers across North America and international markets. Aeris Partners served as the exclusive financial advisor, and Kirkland & Ellis LLP served as the legal advisor to Francisco Partners and Orchard Software. About Clinisys Clinisys is a global provider of intelligent laboratory informatics solutions that support a healthier and safer world. Serving healthcare, life sciences, and public health customers, Clinisys is headquartered in Tucson, Arizona; Raleigh, NC; Woking, England; and Ghent, Belgium. Millions of laboratory results and data insights are generated every day using Clinisys's platform and cloud-based solutions in over 4,000 laboratories across 39 countries. Learn more at About Orchard Software Founded in 1993, Orchard Software is a pioneer in laboratory information systems designed to meet the needs of diverse clinical settings. Orchard's award-winning products are used by more than 2,000 laboratories across the United States in physician groups, hospitals, reference labs, student health centers, veterinary clinics, and public health organizations. Learn more at About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and outstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit Media Contact: Clinisys Contact: Michele Schicchi Global VP, Marketing and Corporate Communications, CMO Clinisys 520.570.2552 Francisco Partners: Prosek Partners for Francisco Partners Pro-FP@ This is an auto-published feed from PTI with no editorial input from The Wire.
