North Carolina-based nCino completes acquisition of SimpleNexus

Wilmington, N.C.-based nCino Inc. completed the acquisition of SimpleNexus LLC for total consideration of approximately 12.76 million nCino common shares plus cash consideration of about $270 million, on a cash-free, debt-free basis and excluding transaction expenses.

For the fourth quarter ending Jan. 31, nCino expects SimpleNexus will contribute between $3.6 million and $3.8 million in total revenues from the closing date of Jan. 7, according to a news release.

BofA Securities served as financial adviser to nCino, and Sidley Austin LLP acted as its legal counsel. Willkie Farr & Gallagher LLP served as legal counsel to SimpleNexus.