nCino to acquire FullCircl for $135M in cash

nCino (NCNO) announced that it has entered into a definitive agreement to acquire FullCircl. FullCircl is a UK-based SaaS platform, built to help financial institutions and regulated companies grow revenue, automate and accelerate onboarding, and improve client lifecycle management by removing regulatory and verification roadblocks. The purchase price for FullCircl is $135M in cash, subject to customary adjustments. $15M of the Purchase Price will be retained by nCino for two years following the closing of the transaction as security for the performance of certain warranties and covenants arising under the purchase agreement. nCino plans to provide an update on the financial impact of this acquisition in connection with its third quarter earnings release.