Lupton Fawcett advises York-based Agility Multichannel on its acquisition by multinational Magnitude Software
York-based Agility Multichannel, which also has offices in the US and Sweden, has been acquired by US-based technology group, Magnitude Software, Inc.
The Agility Multichannel business was originally acquired from the Pindar Group in a management buyout led by Richard Hunt, Graham Cook and Jason Simpson in 2011. Following the sale to Magnitude, all three will continue in leadership roles.
Agility Multichannel's multiple award-winning product Agility® is a simple-to-use and highly sophisticated Product Information Management (PIM) solution that puts valuable product data at the stable core of a go-anywhere, sell-everywhere commerce strategy.
Speaking about the deal, Richard Hunt, CEO of Agility Multichannel, now Vice President of Agility Solutions for Magnitude said,
“Becoming part of a larger enterprise with strong organisational execution capabilities at scale, plus expertise within adjacent markets, accelerates our ability to capitalise on the push for digital transformation, which we see as imperative for companies seeking to improve or expand their commerce presence.
“The combined strengths of Magnitude Software and Agility Multichannel open up opportunities to deliver a broader range of complementary solutions that addresses the expanding and highly specialised needs of enterprises driving digital transformation.”
Commenting on the purchase, Chris Ney, Chairman & CEO of Magnitude Software, said, “Our business was created to drive the end-to-end process of delivering insights to business leaders via access, harmonisation and analytics to support business decision-making, and reduce operational cost and risk.
“With the addition of Agility Multichannel we can expand our capabilities in a growing and relatively under-served market with an agile PIM solution for product content management and syndication – without which organisations cannot efficiently deliver the content necessary for integrating into leading digital commerce solutions.”
Martin Frost, corporate finance partner at law firm Lupton Fawcett, not only led the team that advised Agility on the sale to Magnitude Software, he also advised the directors on the original MBO from Pindar Group.
“It was excellent to renew my relationship with Richard, Graham and Jason,” he said. “When I advised on the original buy-out in 2011 I could see that they were extremely professional, ambitious and had a clear plan for what they wanted to achieve.
“To have attracted the attention of a worldwide technology company like Magnitude Software shows the strength of the Agility team’s knowledge and skills in identifying a problem and creating a solution to overcome it to help make businesses more efficient and profitable.
“I am delighted to have been able to assist the team on securing the sale. Agility and Magnitude are a great fit and I have no doubt that they will go on to be even more successful together.”
The management team were also advised by Rory O’Sullivan and Mihail Ivanov of Pagemill Partners, who provided M&A advisory and financial advice.
Walker Morris were legal advisors to Magnitude Software.
(Left to right) Martin Frost, Mihir Shah, Exec Vice President Corporate Development & Darren Pierce, CTO, from Magnitude with Graham Cook CTO and Richard Hunt of Agility.