Tuesday, August 9, 2011

Plimus Acquired By Great Hill For $115M

Fremont-based Plimus, a developer of e-commerce software, has been acquired by private equity firm Great Hill Partners, Great Hill said Monday. The deal was worth $115M. Great Hill said it acquired Plimus from Susquehanna Growth Equity LLC, Plimus founders, key mangaement, and employees. Plimus is a developer of online storefront software for digital goods and services, serving small to medium sized businesses. As part of the acquisition, Matt Vettel, Chris Busby and Nick Cayer from Great Hill have joined the company's board. Plimus was advised by Raymond James & Associates in the deal.