News
Nintex Sells Majority Stake to TPG, Revamps Cloud Automation Software
- By Gladys Rama
- October 13, 2021
Workflow automation expert Nintex recently announced some product updates on the heels of a major organizational one.
Earlier this month, Nintex announced it was selling a majority stake in the company to private equity firm TPG Capital. Financial terms of the deal weren't disclosed, but Nintex and TPG expect it to be finalized by the end of this year.
Meanwhile, Thoma Bravo, Nintex's current majority investor, has said it will make a "new equity investment" in Nintex and keep a "significant minority interest" in the company.
Nintex has grown rapidly in recent years, clocking four acquisitions since 2018. Its most recent acquisition was of digital signature specialist AssureSign Ink this past June. Nintex folded the acquired technology into the new Nintex AssureSign e-signature solution, part of the broader Nintex Process Platform, which offers various automation and management tools.
With funds from the TPG deal, Nintex said it will "invest more R&D resources in its market-leading automation solutions, expand its go-to-market programs, and continue adding complementary process technologies to support demand for its software platform." It will also expand its workforce from the current 850 or so employees, adding more engineers, product managers, marketers and salespeople.
"In today's landscape, digital process automation and management are critical to any company's ability to work effectively and efficiently," said Nehal Raj, co-managing partner at TPG, in a prepared statement. "The automation of the enterprise is a core investment theme for our software team, and we believe Nintex is at the forefront of enabling this transformation. While the company serves thousands of organizations today, we believe they are only scratching the surface in terms of the breadth of departmental and industry process solutions needed. We look forward to working with the teams at Nintex and Thoma Bravo to accelerate the company's growth."
Updates to Nintex Workflow Cloud
In other Nintex news, the company this week described several enhancements to its cloud automation platform, including newly achieved security and regulatory certifications.
Since late September, Nintex Workflow Cloud achieved the FedRAMP "In Process" designation, earned an SOC Type 2 report and became available to Canadian customers via a new Nintex datacenter in central Canada.
It also added four new features:
- My Nintex workflow tracking
- Data source variables
- Nintex Gateway SQL Connector
- Intelligent PDF Form Converter
"Public and private sector organizations are looking to drive further efficiencies across their operations with automation software," said Neal Gottsacker, Nintex's chief product officer, in a prepared statement. "With the ease and power of Nintex Workflow Cloud, information technology and ops professionals as well as business analysts, across departments like HR, Sales, Marketing, Finance and Legal, are empowered to improve simple to sophisticated business processes with the platform's visual drag-and-drop workflow and forms designer -- making the process of automating work fast and secure."