Mavenlink Merging With Kimble Applications
Irvine-based Mavenlink, which develops cloud-based software for the professional services market, and London-based Kimble Applications, said the two are merging in an effort backed by private equity investor Accel-KKR. Financial details of the business combination were not announced. According to the companies, Accel-KKR will be the majority investor in the combined companies, with existing Kimble and Mavenlink investors Carrick Capital Partners and Goldman Sachs continuing to hold stakes in the newly combined company. Both companies provide their software to financial services companies.