Tuesday, 28 March 2017
Last updated 1 hour ago
Dec 3 2013 | 10:39am ET
Private-equity firm Thoma Bravo owned Digital Insight for just four months, but that was enough time to turn a 61% return.
Thoma Bravo said yesterday that it had sold the payment-processing company to NCR for $1.65 billion, $625 million more than it paid 124 days ago, when it bought Digital Insight from NCR rival Intuit. The deal amounts to a profit of $5 million per day for the p.e. firm.
"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," managing partner Orlando Bravo said. "Digital Insight has attracted interest from NCR with its strong set of online and mobile banking products, rich client list and accomplished employees."