Daily News: September 26, 2014

Wells Fargo Finances Audax Group Investment

Audax Group announced an investment into Magnitude Software. Wells Fargo provided financing for the transaction. Ropes & Gray served as counsel to Audax Group. Wells Fargo provided financing for the transaction.

Geoffrey S. Rehnert, co-CEO of Audax Group, said “Magnitude Software is a leader within the growing Enterprise Information Management industry. We look forward to working with Chris Ney and his team to drive growth organically and through strategic add-on acquisitions.”

Chris Ney, CEO of Magnitude, said, “Every company is under increasing pressure to manage and govern information across the enterprise, and deliver this information faster and more consistently than ever before. This investment, coupled with our laser focus on customer success, presents us with an incredible opportunity to deliver unprecedented product and services innovation to customers in every industry in this high-growth EIM market.”

Magnitude Software is a provider of enterprise information management software.