TA Associates’ Investment in Accion Labs

K&L Gates LLP served as U.S. counsel, Lexygen India served as Indian counsel, KPMG served as tax advisor and Avendus Capital served as investment banker to Accion Labs and Basil Technology Partners. Goodwin Procter LLP served as legal counsel and Ernst & Young served as tax advisor to TA Associates. TA Associates Advisory Private Limited also advised on the transaction.

TA Associates, a leading global growth private equity firm, announced that it has completed a strategic growth investment to join Basil Technology Partners as an investor in Accion Labs, a digital-focused software product engineering company specializing in emerging technologies. Financial terms of the transaction were not disclosed.

Founded in Pittsburgh, PA in 2011, Accion is a leader in helping technology companies and enterprises leverage the power of emerging technologies. Accion’s expertise ranges across advanced UX, artificial intelligence and machine learning, big-data/analytics, migration to cloud/SaaS and re-engineering of legacy platforms, process automation, mobility, augmented reality and IOT. The company’s clients include software product companies, e-SaaS firms, e-business organizations and enterprises undergoing a digital transformation across a range of industries such as healthcare, financial services, technology and fintech. Accion has more than 2,600 engineers across 14 offices within the U.S., Canada, the UK and Asia-Pacific.

Basil Technology Partners Pte. Ltd. is a licensed fund manager in Singapore and is the advisor to Basil Technology Fund. Basil is a specialist technology investor that identifies and invests in niche technologies that are disrupting the IT services space.

TA Associates is a leading global growth private equity firm.

The Goodwin team was led by Yash Rana (Picture), Chi Pan and Ananth Lakshman, and included Howard Cubell, Al Solecki, Natascha George, Rich Matheny and Jeff Klein.

The K&L Gates team that advised Basil and Accion on the cross-border investment was led by partners Stephen Barge and David Forney (both Pittsburgh) and also included partners Joel Almquist (Boston), Ali Nardali (San Francisco), Henry Snyder (Pittsburgh), Lisa Stark (Wilmington), and Adam Tejeda (New York); of counsel David Aceto and Tom Johnson (both Pittsburgh); and associates Bella Zaslavsky (Boston), Madeline Moore (Boston), Sara Kirkpatrick (Wilmington), and Arielle Wisotsky (New York).

Involved fees earner: Howard Cubell – Goodwin Procter; Natascha George – Goodwin Procter; Jeffrey Klein – Goodwin Procter; Ananth Lakshman – Goodwin Procter; Richard Matheny III – Goodwin Procter; Chi Pan – Goodwin Procter; Yash Rana – Goodwin Procter; Albert Solecki Jr – Goodwin Procter; David Aceto – K&L Gates; Joel Almquist – K&L Gates; Stephen Barge – K&L Gates; David Forney – K&L Gates; Thomas Johnson – K&L Gates; Sara Kirkpatrick – K&L Gates; Madeline Moore – K&L Gates; Ali Nardali – K&L Gates; Henry Snyder – K&L Gates; Lisa Stark – K&L Gates; Adam Tejeda – K&L Gates; Arielle Wisotsky – K&L Gates; Bella Zaslavsky – K&L Gates;

Law Firms: Goodwin Procter; K&L Gates;

Clients: Accion Labs; Basil Technology Partners; TA Associates;

Author: Michael Patrini