William Blair acted as the exclusive financial advisor to PrecisionLender in connection with its pending acquisition by Q2 Holdings (QTWO) (Q2) for $510,000,000. The transaction was announced on October 1, 2019. The acquisition of PrecisionLender will allow Q2 to expand its SaaS based digital transformation solutions for commercial banking and lending.
Transaction Highlights
- Strategic buyer access: William Blair leveraged its deep industry experience and relationships with leading technology companies to engage a select group of potential partners that would recognize the significant strategic value of the platform and align culturally with PrecisionLender.
- Trusted guidance: William Blair created a bought, not sold dynamic amongst potential partners by crafting a process that fostered idea-sharing, strategic synergies, and interaction with the PrecisionLender team.
- Highly successful outcome: William Blair collaborated with management to effectively focus potential acquirers on PrecisionLender’s highly differentiated SaaS platform, extensive artificial intelligence, and machine learning capabilities. This allows PrecisionLender to accelerate digital transformation for banks by delivering actionable, real-time, data driven insights delivered through its proprietary digital coach, Andi. The transaction culminated in a highly successful outcome for the shareholders.
About the Companies
PrecisionLender modernizes commercial banking with a product suite that empowers bankers with actionable, in-the-moment insights, so they win better deals and build strong, more profitable relationships. Andi®, PrecisionLender’s digital enterprise coach, augments banker strengths and intelligence with the latest technology and data, delivering the best recommendations at exactly the right time. Over 13,000 bankers at 200 plus banks – ranging from under $1 billion to over $1 trillion in assets use the solution.
Q2 is a secure, cloud-based digital transformation solutions company based in Austin, Texas. Since 2004, Q2 has built stronger communities by strengthening their financial institutions. Their digital banking solutions for deposits, money movement, lending, leasing, security, and fraud enable financial institutions to deliver a better financial experience to their account holders. Q2’s bank and credit union customers, along with emerging financial services providers, also benefit from actionable data analytics and access to open technology tools.
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