Ropes & Gray Counsels Summit Partners in $1.2 Billion Sale of ABILITY Network
Summit Partners, a global alternative investment firm, has entered into an agreement to sell ABILITY Network, a leading cloud-based software-as-a-service technology company, to Inovalon, a technology company providing cloud-based platforms, for approximately $1.2 billion. The transaction was announced on March 7, 2018 and is expected to close in April 2018, subject to customary closing conditions.
The combination of Inovalon and ABILITY creates a vertically integrated cloud-based platform empowering the achievement of real-time, value-based care from payers, manufacturers, and diagnostics all the way to the patient’s point of care.
The Ropes & Gray team is led by private equity partner Amanda Morrison, finance partner Byung Choi, tax partner Pamela Glazier and benefits partner Loretta Richard.