THL acquires digital asset management platform Bynder

• Bynder helps companies manage photos, videos, and other promotional materials across platforms
• THL will acquire Insight Partners’ stake in Bynder as part of the transaction
• THL will invest in Bynder through both its flagship Fund IX and the THL Automation Fund

Thomas H. Lee Partners (THL) made a majority investment in Bynder, a digital asset management (DAM) platform. The deal is valued at over $600 million, according to sources close to the matter.

Bynder, headquartered in Amsterdam, helps companies manage photos, videos, and other promotional materials with the use of its cloud-native platform. The company’s integrated DAM platform is used by companies such as Spotify, Puma, Five Guys and Icelandair.

Boston-based THL invested in Bynder through its flagship Fund IX and the THL Automation Fund, the private equity industry’s first fund dedicated to automation-related businesses, according to THL.

THL will acquire Insight Partners’ stake in Bynder as part of the transaction.

“Bynder is the pure-play market leader in a category that we believe has become foundational for executing digital marketing at scale,” said Cliff Longley and Jeff Swenson, managing directors at THL. “Its technology helps brands of all sizes deepen relationships with their customers and drive revenue growth.”

Thomas H. Lee Partners private equity firm that invests in middle-market growth companies exclusively within sectors of healthcare, financial technology and services, and technology and business solutions.