Thoma Bravo should actually like Flexera, an IT asset administration firm out of Chicago. The non-public fairness agency purchased the corporate for the second time in the present day. Sources instructed TechCrunch the value was $2.85 billion.
Technically, Thoma Bravo is getting a majority stake within the firm, shopping for it from earlier homeowners TA Associates and Ontario Academics’ Pension Plan Board. The agency originally bought Flexera in 2008 from Macrovision for simply $200 million. It turned it round simply three years later in 2011 for $1 billion revenue, according to reports.
Whereas reviews final 12 months had the corporate’s traders looking for $3 billion, they didn’t fairly attain that mark, but it surely’s nonetheless a hefty revenue as the corporate continues to vary arms, giving every of its homeowners a considerable return on funding.
At $2.85 billion, Thoma Bravo could have an even bigger problem on its arms to make that very same type of return, but it surely sees an organization it preferred earlier than and it nonetheless likes it, particularly the administration workforce, which to a point at the very least stays intact.
“Jim [Ryan] and his workforce have positioned Flexera for sustained development by specializing in the strategic challenges enterprises face with complicated IT infrastructures,” Seth Boro, managing companion at Thoma Bravo stated in a press release.
Ryan was happy to see the corporate’s worth proceed to rise and to attach as soon as once more with Thoma Bravo. “This can be a resounding vote of confidence within the development Flexera has proven and the strategic initiatives we’ve undertaken to deal with the exponential challenges confronted by organizations in the present day,” he stated in a press release.
Flexera was based in 2008 and has purchased 12 corporations alongside the best way, together with 5 within the final couple of years, in accordance with Crunchbase information. The deal is anticipated to shut within the first quarter of subsequent topic to regulatory approvals.