Francisco Partners to Acquire Jama Software For $1.2B
Investment builds on an organic tripling of recurring revenue in 5 years to further extend the company's leadership position in intelligent engineering management
PORTLAND, Ore. and LONDON, March 18, 2024 /PRNewswire/ -- Jama Software®, an industry leading requirements management and traceability solution provider, announced today that Francisco Partners has entered into a definitive agreement to acquire the Company from shareholders including Insight Partners and Madrona Ventures for $1.2 billion. Marc Osofsky, Jama Software CEO, will personally reinvest and continue to lead the company.
"We are thrilled to work with Francisco Partners and leverage their expertise as we further accelerate our rapid expansion across enterprises, industries and continents", said Marc Osofsky, CEO, Jama Software. "We thank Insight Partners, who have been tremendous supporters of Jama Software's growth over the past six years."
"The engineering management market is in the early stages of a fundamental transformation which Jama Software is at the forefront of. We are ecstatic to be partnering with Marc and his team in continuing to execute on their industry-leading vision and strategy", said Petri Oksanen and Mario Razzini, Partners at Francisco Partners.
Jama Software has rapidly become a market leader in Requirements Management & Traceability and leads the market in customer satisfaction ratings, NPS scores, SaaS scale, security and SOC2 compliance, usability, performance, breadth and depth of integrations, measured process improvement, benchmarking, NLP and more. Jama Software helps companies intelligently improve their development process to reduce defects, delays, cost overruns and recalls.
"We're delighted to have collaborated closely with Marc and the Jama Software team as they've navigated significant growth and emerged as a market leader," said Richard Wells, Managing Director at Insight Partners. "As Jama Software embarks on their exciting new chapter of expansion and innovation, this acquisition by Francisco Partners reflects Jama Software's success and the Company's ability to consistently deliver exceptional value to customers worldwide."
The investment by Francisco Partners is subject to customary closing conditions.
Evercore acted as the exclusive financial advisor to Jama Software and Insight Partners and Willkie Farr & Gallagher LLP acted as legal advisor. J.P. Morgan Securities LLC acted as financial advisor to Francisco Partners and Paul Hastings LLP acted as legal advisor.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, 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 www.franciscopartners.com.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
About Jama Software
Jama Software® is focused on maximizing innovation success in multidisciplinary engineering organizations. Numerous firsts for humanity in fields such as fuel cells, electrification, space, software-defined vehicles, surgical robotics, and more all rely on Jama Connect® requirements management software to minimize the risk of defects, rework, cost overruns, and recalls. Using Jama Connect, engineering organizations can now intelligently manage the development process by leveraging Live Traceability™ across best-of-breed tools to measurably improve outcomes. Our rapidly growing customer base spans the automotive, medical device, life sciences, semiconductor, aerospace & defense, industrial manufacturing, consumer electronics, financial services, and insurance industries.
For more information about Jama Connect services, please visit https://www.jamasoftware.com/
Media Contact
Karrie Sundbom
Senior Director, Corporate Marketing, Jama Software
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SOURCE Insight Partners
