nCino Acquires SimpleNexus for $1.2 Billion
November 16, 2021
nCino, a cloud banking software provider, agreed to acquire SimpleNexus, a mobile-first homeownership and digital mortgage platform, in a transaction valued at approximately $1.2 billion (approximately $240 million cash and ~13.2 million shares). The acquisition expands nCino's point-of-sale and mobile capabilities in the U.S. mortgage market and is expected to close by the end of nCino's fourth fiscal quarter ending January 31, 2022, subject to customary approvals.
- Buyers
- nCino, Inc.
- Targets
- SimpleNexus, LLC
- Industry
- Cloud & SaaS
- Location
- Utah, United States
- Transaction Type
- Buyout
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