TA Associates recently bought Global 360, a provider of business software services, in a $200 million deal, after keeping an eye on the company for years. Kurt Jaggers, a managing director at the buyout shop, said TA targeted the Texas company after scoping out the rapidly growing market for business process management. Its opportunity came when Sonny Oates, the Dallas businessman and a majority owner in Global 360, decided he wanted to retire and cash out.

The company hired Deutsche Bank to run an auction and contacted TA last fall. Before the deal closed, Global ceo Michael Crosno, who first met Jaggers in the mid 1990s, did his own due diligence, personally calling executives of TA's portfolio companies. The firm's experience in backing growth companies and its longstanding interest in Global 360 were some of its selling points. Vivian Wu, a v.p. at TA, pointed out the firm has invested in more than 200 software companies.

Terms of the acquisition weren't disclosed, but Jaggers said it included a hefty equity commitment. TA took a majority stake. Two venture firms--JMI Equity and Technology Crossover Ventures--and Global's management took smaller shares.

TA closed a $4.3 billion buyout fund last month (CFW, 4/3).