Golden Gate buys Blue Martini

The San Francisco firm, founded by former Bain Capital partners, has agreed to purchase the customer relationship software company for $54m.

San Francisco-based middle market firm Golden Gate Capital, founded by former managing directors of Boston buyout giant Bain Capital, has agreed to acquire publicly traded Blue Martini Software for $54 million (€41 million) in cash.

Under the terms of the deal, Golden Gate’s portfolio company Multi-Channel, also the parent entity of retail software vendor Ecometry, will acquire the shares of Blue Martini for $4 a share.

San Mateo, California-based Blue Martini provides sales optimisation and customer relationship management (CRM) software for businesses worldwide, including Carrefour, DuPont and Harley-Davidson.

Blue Martini represents the 25th technology company that Golden Gate has purchased in the last four years and is its fifth software acquisition in the last two years. This week, the firm also announced the  completion of its purchase of Moulin Global Eyecare from Boston-based Thomas H. Lee Partners. The $450 million deal was signed in December.

Golden Gate, started in 2000 by former Bain professionals David Dominik and Jesse Rogers, currently manages approximately $2.5 billion in capital and focuses on the middle market. In August, the firm closed its second private equity fund on $1.8 billion (€1.49 billion).