Digital Insight will be changing hands — again.
NCR announced that it would buy Digital Insight for $1.65 billion today. The purchase broadens NCR’s coverage of financial services from ATM and branch to online and mobile banking technology. Digital Insight will become part of NCR’s Financial Services line of business.
Thoma Bravo, the private equity firm which owns Digital Insight, bought the company from Intuit for $1.025 billion last August. That means Thomas Bravo cleared a cool $625 million in just five months. Thoma Bravo relaunched Digital Insight as a separate company and re-established the brand — long a well-known one in fintech. Digital Insight previously operated as a unit of Intuit called Intuit Financial Services. Intuit purchased Digital Insight in 2006 for $1.35 billion.
“Thoma Bravo was an experienced and trusted partner during our carve-out from Intuit, and I appreciate the effort from our team at Digital Insight,” said Digital Insight CEO John O’Malley. “Thoma Bravo gave us the tools and knowledge to succeed as a standalone company and we look forward to our next stage with NCR.”
Digital Insight serves some 12 million online banking customers and nearly 5 million mobile customers.