Global private equity firm The Carlyle Group has agreed to purchase OpenLink Financial, a software developer for the commodity, energy and financial services industries, from TA Associates.
Equity capital for this transaction will come from Carlyle Partners V.
The terms of the transaction, which is expected to close in the fourth quarter, were not disclosed.
OpenLink is a provider of cross-asset trading, risk management, and related portfolio management software solutions for the commodity, energy and financial services markets globally.
The company, founded in 1992 and headquartered in Long Island, New York, with offices in New York, Houston, London, Berlin, Vienna, São Paulo, Sydney, and Singapore, has more than 785 employees worldwide.
Commenting on the deal, Kevin Hesselbirg, CEO of OpenLink, said: “TA Associates has played a key role in the development of OpenLink, helping us to grow organically and evolve from our entrepreneurial roots. In this next phase of our journey, Carlyle’s technology expertise and financial know-how will serve us well, particularly as we expand internationally and through acquisitions. We see a bright future for the continued growth of OpenLink, driven by the persistent expansion of demand in the industries we serve, as we deliver solutions to the world’s leading energy, commodity and financial services companies who are our clients”.
Cam Dyer, Principal in Carlyle’s U.S. Technology Buyouts group, was reported as saying: “We look forward to supporting OpenLink’s growth through Carlyle’s global resources and industry expertise, and we expect that OpenLink’s valued clients and talented employees will benefit from this growth as OpenLink continues to increase the breadth and depth of its industry leading software solutions”.