CELEX: 32021M10467
Language: en
Date: 2021-09-24 00:00:00
Title: Commission Decision of 24/09/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10467 - INSIGHT / FRANCISCO PARTNERS / NMI) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 24.9.2021
                                                                C(2021) 7067 final
                                                                                 PUBLIC VERSION
                                                                Insight Venture Management, LLC
                                                                1114 Avenue of the Americas, 36th
                                                                Floor
                                                                New York, New York 10036
                                                                United States of America
                                                                Francisco Partners Management, L.P.
                                                                One Letterman Drive, Building C,
                                                                Suite 410
                                                                San Francisco, California 94129
                                                                United States of America
Subject:        Case M.10467 – INSIGHT / FRANCISCO PARTNERS / NMI
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                        1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 2 September 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Insight
        Venture Management, LLC, wholly owned by Insight Holdings Group, LLC
        (“Insight”, United States) and Francisco Partners Management, L.P. (“Francisco
        Partners”, United States) acquire within the meaning of Article 3(1)(b) and 3(4) of the
        Merger Regulation joint control of NMI Topco LLC (“NMI”, United States) by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for Insight: a global venture capital and private equity firm specialising in
              investments in growth equity, buyout, capital for mergers and acquisitions and
              later stage / middle market / mature recapitalisation and carve-outs. Insight
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 365, 10.9.2021, p. 9.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---        primarily invests in the technology sector, focussing on consumer-facing
       technology, and software as a service (SaaS) based software infrastructure.
   −   for Francisco Partners: a private equity firm exclusively focused on investments
       in technology and technology-enabled business.
   −   for NMI: a software platform for payments enablement on behalf of software
       companies or independent software vendors (ISVs), independent sales
       organizations (ISOs), financial institutions, and payment facilitators (PayFacs).
       NMI provides payments infrastructure as a service with omnichannel payments
       functionality. NMI is currently controlled by Francisco Partners.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004. 4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                   For the Commission
                                                   (Signed)
                                                   Olivier GUERSENT
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                              2