Summit Partners has acquired a majority stake in Help/Systems. Financial terms weren’t disclosed. Audax Group was the seller. Eden Prairie, Minn.-based Help/Systems provides automated operations, security and business intelligence software solutions. The deal is the second time Summit has invested in Help/Systems. The growth equity firm initially invested in the company in 2005 and sold it to Audax in 2007.
Help/Systems, LLC, a leading provider of data center automation, security and business intelligence solutions for IBM i, Unix, Linux and Windows operating systems, announced today that growth equity investor Summit Partners has completed a majority investment in the company. Help/Systems will use the funding to support its ongoing organic and acquisition-driven strategic growth.
Founded in 1982, Help/Systems provides automated operations, security and business intelligence software solutions for its worldwide base of more than 5,100 customers. The company delivers products and services that help address powerful IT growth trends including an increased focus on automating IT management, virtualization, the rapid growth of data that requires processing and analyzing, and the increased need for security and network management.
“We are excited about this partnership with Summit Partners,” said Janet Dryer, CEO of Help/Systems. “Summit’s broad base of software and global expertise will help us continue to expand our products and services on the global stage. We look forward to Summit’s guidance and contributions in taking our company to the next level of growth.
Summit Partners initially invested in Help Systems in 2005 and sold the company to Audax Group in 2007. “We are pleased to re-invest in Help/Systems, a leading provider of data center automation, security and business intelligence solutions,” said John Carroll, a Managing Director with Summit Partners. “The company has continued its success on the IBM platform, while now also expanding its solutions into the Unix, Linux and Windows markets. We believe these markets are poised for continued strong growth, and we look forward to partnering once again with a very experienced management team that we know well.”
Joining the company’s Board of Directors from Summit Partners are Managing Directors John Carroll and J.J. Kardwell, along with Principal Peter Rottier.
Weil, Gotshal & Manges, LLP served as counsel to Summit Partners.
Founded in 1982, Help/Systems, LLC is a leading provider of data center automation, security, and business intelligence solutions for IBM i, Unix, Linux and Windows operating systems. In 1992, Help/Systems became America’s first ISO 9001-certified software company, and today remains dedicated to providing its customers with the highest quality products and services. For more information, visit www.helpsystems.com.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised more than $14 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 340 companies across a range of industries. These companies have completed more than 125 public offerings, and in excess of 130 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, London and Mumbai. Notable software companies financed by Summit Partners include Hyperion Solutions, McAfee Associates, RightNow Technologies, Unica, Wildfire Interactive, and WebEx Communications.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.