Magnitude has been acquired by Audax Group

Magnitude Software, a leading provider of Enterprise Information Management (EIM) software, today announced it has secured up to $100 million in capital investment led by Audax Group, a leading middle market private equity firm, and a significant personal investment by Chris Ney, the company’s chairman and chief executive officer.

Magnitude Software was formed in a merger of equals between business intelligence leader, Noetix and data management leader, Kalido. Today the company serves more than 600 global enterprise customers with over 200,000 users, enabling them to manage data as an enterprise asset. The company’s offerings include solutions for business intelligence, data warehousing, reporting, analytics and master data management. The additional capital investment will enable Magnitude Software to expand its product offering footprint by building and buying products that complete the end-to-end information management experience for customers. 

In conjunction with the new capital investment, Magnitude Software is formalizing Chris Ney’s role as chairman and CEO with headquarters in Austin, Texas. As CEO, Mr. Ney will guide the company’s overall corporate vision and strategic direction, and drive its acquisition, integration, and growth strategies. Ney was previously the co-founder and president of Silverback Enterprise Group, where the team completed the strategic acquisition of nine industry-leading enterprise software companies and leveraged their synergies to build two powerful new entities: Upland Software and Magnitude Software. 

Magnitude Software’s leadership team remains the same, with Nigel Turner as president, Doug Moore as executive vice president and chief financial officer and Darren Peirce as vice president and chief technology officer. 

About Magnitude Software

Magnitude Software is a leading provider of Enterprise Information Management software driving real business results for more than 600 active enterprise customers with over 200,000 users in 100 countries. Magnitude Software offers a family of award-winning applications, from business intelligence and data warehousing to master data management, reporting and analytics. At the core of Magnitude’s business is a passionate focus on customer success and a vision to accelerate and automate the end-to-end process of integrating, managing and analyzing information to support business decision making, while reducing operational cost and risk.

About Audax Group

Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses.