OpenGate Capital Announces Acquisition of Majority Interest in InRule Technology, Inc.
19.8.2019 15:00:00 EEST | Business Wire | Press release
OpenGate Capital, a global private equity firm, announced today that it has acquired InRule Technology, Inc. (“InRule”), a market-leading decision management platform and business rules management system (BRMS). OpenGate is pleased to partner with the co-founders of InRule to continue innovation and leadership in the decision management market. This transaction marks the fifth investment completed in 2019 through OpenGate Capital’s second institutional fund. Financial terms were not disclosed.
InRule software powers mission-critical decisions for enterprise and government customers. InRule provides an end-to-end, fully auditable platform that acts as a “single source of truth” for enterprises processing complex business rules and decision workflows. Its decision platform drives significant and quantifiable business value across a variety of use cases, including insurance eligibility, mortgage qualification, risk rating and fraud reduction, regulatory compliance, healthcare claims processing and CPQ calculations. InRule has diverse, global and long-standing relationships with more than 400 customers across a variety of industries, including financial services, public sector, IT and business services, healthcare and insurance. Headquartered in Chicago, Illinois and founded in 2002, InRule will continue to be led by Co-Founder and CEO Rik Chomko; Co-Founder and CTO Loren Goodman; and a team of industry veterans.
“We are pleased to partner with OpenGate, a global private equity firm that shares our goal to be the global leader in the decision management market,” said Rik Chomko, InRule Co-Founder and CEO. "InRule remains deeply committed to the markets we serve, and we now have greater flexibility to invest in our customers, technology, people and future. I am proud of our employees, and all that we have accomplished together; we are transforming the way complex decisions are managed by the enterprise. InRule has never been better positioned for success.”
Andrew Nikou, OpenGate Capital’s founder and CEO, commented, “InRule is an exciting investment for OpenGate when we consider the vital nature of decision automation in today’s increasingly complex world. InRule’s unique ability to process complex logic and vast amounts of data is critical at a time when governance, compliance and digital transformation are vital to any organization’s success. OpenGate’s investment in InRule is a tremendous point of pride and we welcome the business into our portfolio.”
OpenGate Capital sourced InRule through its global origination team led by Joshua Adams, Managing Director – Business Development; and Rafael Baron, Vice President – Business Development. From the firm’s Los Angeles office, the following team members are responsible for negotiating and overseeing the investment: Robert Young, Principal – M&A; and Paul Bridwell, Managing Director – Operations.
The acquisition of InRule follows the recently completed acquisitions of Duraco from Essentra, Sargent and Greenleaf from Stanley Black & Decker, SMAC from Colas Group, and Fiven from Saint-Gobain.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe with a strategic focus on operational improvement, innovation and growth. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com.
About InRule Technology, Inc.
InRule Technology® enables enterprises to understand and automate decisions with unparalleled speed, agility, accuracy and transparency. IT and business personnel rely on InRule’s Decision Platform and Business Rules Management System (BRMS) to increase productivity, grow revenue and enhance customer service. With its ‘author first’ approach, InRule empowers both technical and business rule authors to write and manage rules. From on-premises, to the cloud and via mobile, InRule allows organizations to run rules anywhere for extreme flexibility and scalability. More than 400 InRule User Community members depend on InRule to reduce development and change cycles by 90 percent for their mission critical systems and customer-facing applications. InRule has been delivering measurable business and IT results in high-performance environments since 2002. For more information visit www.inrule.com.
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Contact information
OpenGate Media Contacts
Alanna Chaffin
Email: achaffin@opengatecapital.com
Telephone: +1 (310) 432-7000
Mike Sitrick
Sitrick & Company
Email: Mike_Sitrick@sitrick.com
Telephone: (310) 788-2850
OpenGate Business Development Contacts
Joshua Adams
Email: jadams@opengatecapital.com
Telephone: +1 (310) 432-7000
Rafael Baron
Email: rbaron@opengatecapital.com
Telephone: +1 (310) 432-7000
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