The Carlyle Group has acquired a minority stake in ION Investment Group for about $400 million. Evercore and Allen & Overy advised Carlyle on the transaction. In conjunction with this investment, Carlyle’s Renee James and Cam Dyer have been added to ION’s board of directors. ION is a provider of software for financial institutions and banks.
New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has made an approximately $400 million minority investment in ION Investment Group, a global provider of mission-critical software to financial institutions and corporates.
Cam Dyer, Managing Director in the Carlyle Global Technology, Media, and Telecommunications group, said, “We are delighted to partner with ION, a global leader in financial technology with over €300 million in EBITDA, which is uniquely positioned to drive consolidation and innovation in the sector and has demonstrated a consistent track record of value creation with a long-term approach to both organic investments and acquisitions.”
Andrea Pignataro, ION‘s CEO, said, “We are excited to partner with Carlyle to support our next phase of growth. Carlyle will bring significant value through its global network, M&A experience and capital, as well as its software and financial technology industry expertise.”
Carlyle Operating Executive Renee James said, “I look forward to working with ION’s world-class management team to help large enterprises digitize and automate their critical business processes through ION’s integrated and unified next generation technology architecture.”
Ms. James and Mr. Dyer have joined ION’s Board of Directors. Ms. James currently sits on the Boards of Oracle, Citi, and Veritas and is the former President of Intel. Mr. Dyer’s current and recent former Board roles include CommScope, Dealogic, SS&C Technologies, OpenLink Financial, and Veritas.
Equity from this transaction came primarily from Carlyle Partners VI, a $13 billion fund that invests in corporate buyouts and strategic minority investments across five industries. The investment in ION is a continuation of Carlyle’s long-term global commitment to Technology, Media & Telecom, in which it has invested more than $22 billion of equity since inception. Carlyle’s significant experience investing in the TMT space includes SS&C Technologies, Dealogic, OpenLink Financial, CommScope, Nielsen, Syniverse and most recently Veritas.
Carlyle Partners VI is part of Carlyle’s Corporate Private Equity segment, the oldest and largest of the firm’s four business segments, with assets under management of $61 billion as of March 31, 2016. Corporate Private Equity, with 279 investment professionals, operates 32 active funds worldwide with more than 275 active investments as of March 31, 2016.
Latham & Watkins served as legal counsel to Carlyle. ION was advised by Evercore and Allen & Overy.
ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, and corporates.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $178 billion of assets under management across 125 funds and 164 fund of funds vehicles as of March 31, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 36 offices across six continents.