Portland, Ore.-based Jama Software, makers of a product development platform, has agreed to be acquired by technology investment firm Francisco Partners in a $1.2 billion deal, the company announced Monday.
The acquisition is “one of the largest software exits for Portland,” Madrona Managing Director Tim Porter said in a post on LinkedIn.
Seattle-based Madrona first invested in Jama in 2013 and was part of a $200 million funding round in June 2018 that was led by Insight Partners.
Founded in 2007 by Eric Winquist, Jama makes software used to build complex products and mission-critical systems, including projects with high levels of complexity and regulation, often combining hardware and software in engineering groups that span multiple disciplines. Customers include Qualcomm, SpaceX, Amazon Robotics, Eli Lily, Canon and Caterpillar.
“We are thrilled to work with Francisco Partners and leverage their expertise as we further accelerate our rapid expansion across enterprises, industries and continents,” Jama Software CEO Marc Osofsky said in a statement. Osofsky, who took over in 2020, will continue to lead the company.
Oregon Venture Fund was an early Jama investor, along with Madrona and Trinity Ventures.
Francisco Partners is also a major backer of Seattle-based Payscale.
