nCino Enters Definitive Agreement To Acquire UK-Based FullCircl For $135M Cash
Portfolio Pulse from Benzinga Newsdesk
nCino has entered into a definitive agreement to acquire UK-based FullCircl for $135 million in cash. This acquisition aims to enhance nCino's capabilities in onboarding and client lifecycle management. $15 million of the purchase price will be retained by nCino for two years as security for performance warranties. nCino will update on the financial impact during its Q3 earnings release.
October 30, 2024 | 10:08 am
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nCino is acquiring FullCircl for $135M to enhance its onboarding and client lifecycle management capabilities. $15M will be retained for two years as security for performance warranties. Financial impact details will be shared in the Q3 earnings release.
The acquisition of FullCircl is a strategic move for nCino, enhancing its product offerings in onboarding and client lifecycle management. The retention of $15M for warranties indicates a cautious approach to the acquisition. The announcement of financial impact during the Q3 earnings release suggests potential positive effects on nCino's financials, likely leading to a short-term positive impact on its stock price.
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