Portland, Ore.-based Jama Software, known for their product development platform, has been acquired by technology investment firm Francisco Partners in a $1.2 billion deal. This acquisition marks one of the largest software exits for Portland, according to Madrona Managing Director Tim Porter. Seattle-based Madrona initially invested in Jama in 2013 and participated in a $200 million funding round in 2018 led by Insight Partners.
Founded in 2007 by Eric Winquist, Jama provides software for building complex products and mission-critical systems, commonly used in projects with high levels of complexity and regulation that involve a mix of hardware and software in various engineering fields. Some of Jama’s notable customers include Qualcomm, SpaceX, Amazon Robotics, Eli Lily, Canon, and Caterpillar. CEO Marc Osofsky expressed excitement about the acquisition, stating that working with Francisco Partners will help accelerate the company’s growth across different industries and regions. Osofsky, who assumed the role of CEO in 2020, will continue to lead Jama Software.
Early investors in Jama include Oregon Venture Fund, Madrona, and Trinity Ventures. Francisco Partners, the acquiring firm, is also a major supporter of Seattle-based Payscale. With this acquisition, Jama Software is expected to further expand its reach and capabilities within the product development space, leveraging the expertise of Francisco Partners. The $1.2 billion deal represents a significant milestone for the Portland-based company, indicating its value and potential in the software industry.
Jama Software’s acquisition by Francisco Partners signifies a significant event in the Portland tech scene, highlighting the growth and success of the company under the leadership of CEO Marc Osofsky. The deal not only reflects the value of Jama Software’s product development platform but also the potential for further innovation and expansion within the software industry. With the support of Francisco Partners, Jama is poised to continue its rapid expansion across different industries, bringing its advanced solutions to a wider range of enterprises and organizations.
The acquisition of Jama Software by Francisco Partners is a testament to the company’s strong position in the market and its ability to deliver innovative solutions for complex product development processes. By joining forces with Francisco Partners, Jama gains access to additional resources, expertise, and opportunities for growth, further solidifying its presence in the industry. CEO Marc Osofsky’s continued leadership of the company ensures continuity and stability during this period of transition, while also demonstrating his commitment to driving Jama Software’s success in the future.
Overall, the acquisition of Jama Software by Francisco Partners represents a significant milestone for the Portland tech community and the broader software industry. With a $1.2 billion deal, Jama is set to embark on a new chapter of expansion and development, supported by the expertise and resources of Francisco Partners. The company’s track record of serving leading organizations in complex industries, combined with its innovative product development platform, positions Jama Software for continued success and growth in the years to come. This acquisition underscores the potential of Portland-based companies to make a significant impact on the tech landscape, both regionally and globally.
