Magnitude Software Has Been Acquired by 3i Group
About Magnitude Software
- Magnitude Software is a leading provider of data management solutions to enterprises worldwide, operating in the US, the Netherlands, UK, Canada and India
- Magnitude has over 1,400 customers across a variety of sectors including manufacturers, retailers and financial services companies and its customer base includes 50% of the Fortune 100
- Prior to the 3i transaction, Magnitude was a portfolio company of Audax Private Equity
- Founded in 2014, Magnitude is headquartered in Austin
About 3i Group plc
- 3i Group is a leading international investment manager focused on mid-market private equity and infrastructure across northern Europe and North America
- 3i has over £8 billion of assets under management in private equity and invests in business and technology services, consumer, healthcare, and industrial sectors
- Since 2010, 3i has invested in over 37 new investments and 221 bolt-on acquisitions in 32 countries
- 3i is headquartered in London
Magnitude provides a highly attractive market and business growth opportunity backed by a strong executive team, led by Chris Ney. Management has a track record of building great teams, delivering broad customer success and rapid growth. The data opportunity, and challenge, is only getting larger with the increasing amount of data that companies generate and need to analyse.
Co-Head North America, 3i Group
The Magnitude executive team sought a strong financial sponsor and business partner with a global network, heritage of backing world-class companies and systematic approach to international expansion. We found all that in 3i.
Chairman & CEO, Magnitude Software
- 3i invested in Magnitude at a disclosed enterprise valuation of $340m on March 19, 2019