Workplace automation software vendor Nintex is getting a new majority investor and a new CEO, it announced Friday.
Thoma Bravo has agreed to purchase a majority stake in the Bellevue-based company from previous investors TA Associates and Updata Partners, who will each retain a stake in the company, which was founded in Australia and moved to the Pacific Northwest in 2013. Terms of the deal were not disclosed.
Back in 2013, TA Associates and Updata reportedly valued the company at $222 million, and while a Nintex representative wouldn’t comment on the new valuation, according to Nintex those investors “realized a strong return on invested capital.”
Alongside the deal, CEO John Burton is stepping down and will be replaced by CFO Eric Johnson. Johnson has been with Nintex since January 2014, after shepherding Jive Software to its IPO in his previous role.
Nintex makes tools that allow companies to take older offline business workflows — such as the process initiated when a new order is received — and put them into a digital workflow that can be set up and tweaked without having to call the application developers in. These tools allow companies to take off-the-shelf business-productivity software like Office 365 or Salesforce and customize those tools for their own needs, while also obtaining analytic information on how efficient those business processes really are.
A company representative said Nintex, ranked #10 on the last edition of the GeekWire 200, now has over 400 employees and $100 million in revenue. It has also been “continuously profitable since inception,” and boasts Seahawks legend Steve Largent as a member of its board of directors.