3i scores 47% IRR on Magnitude sale

The sale represents a 2.6x multiple of invested capital and an IRR of 47%, the firm said in a statement. 3i will make a co-investment of around USD 50m into Insightsoftware in parallel with the transaction.

The transaction is expected to complete in Q4 2021.

3i invested in Magnitude in 2019 and went on to support a number of new product launches and a transition from on-premise to cloud software products, and invested in sales and marketing, according to a statement. It said the business also revamped its brand identity and bolstered its digital presence, in addition to recruiting new executives to drive organic growth and innovation.

Founded in 1994, Magnitude is a provider of data management software. Its products enable customers to connect data across applications and business processes, including supply chain, finance, manufacturing and distribution. It works with 1,300 clients. The company is headquartered in Texas with global operations in the US, Canada, the Netherlands, the UK and India.

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