Fremont, Calif. — Private equity firm Great Hill Partners said on Monday it has paid $115 million to acquire Fremont-based Plimus, which builds and manages online businesses for software publishers, web hosting companies and online retailers. Plimus had been owned by a shareholder group including Susquehanna Growth Equity, as well as the company’s founders, key management members and employees.
Plimus, which has a user base of more than 6,500 small- and medium-sized businesses, will continue to be led by its current senior management team, led by CEO Hagai Tal.
“[Plimus] represents an exciting opportunity to capitalize on the favorable trends in the digital goods and content sectors,” said Chris Busby, a principal at Great Hill. “We are excited to partner with management and will provide the additional capital and resources necessary to help Plimus expand as well as pursue strategic opportunities.”
This article was also published in Bay Area Tech Wire.
Image courtesy of Plimus