M&A Deal Summary

Thoma Bravo Acquires Pathwire

On April 1, 2019, private equity firm Thoma Bravo acquired software company Pathwire from Turn/River

Acquisition Highlights
  • This is Thoma Bravo’s 37th transaction in the Software sector.
  • This is Thoma Bravo’s 76th transaction in the United States.
  • This is Thoma Bravo’s 11th transaction in Texas.
Investment Fate
  • Pathwire was sold to a publicly-traded strategic buyer in 2021 for 1.9B USD.

M&A Deal Summary

Date 2019-04-01
Target Pathwire
Sector Software
Buyer(s) Thoma Bravo
Sellers(s) Turn/River
Deal Type Secondary Buyout

Target

Pathwire

San Antonio, Texas, United States
Pathwire empowers companies around the world to solve complex communication problems. Through its powerful email API and intuitive email marketing solutions, Pathwire delivers over 250 billion emails a year for companies like DHL, Wikipedia, Toast, Lyft, and Microsoft. The company provides reliable, cloud-native infrastructure, local expertise, and smart solutions based on machine learning so companies can more easily reach their customers and build connected experiences. Pathwire is based in San Antonio, Texas.

Search 215,058 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 80 of 151
Sector: Software M&A 37 of 69
Type: Secondary Buyout M&A Deals 22 of 36
State: Texas M&A 11 of 19
Country: United States M&A 76 of 132
Year: 2019 M&A 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 ConnectWise

Tampa, Florida, United States

ConnectWise is a provider of software solutions to the Managed Service Provider (MSP) and SMB ecosystem. The company provides the most comprehensive business automation platform in its industry. This includes Professional Services Automation (PSA); Remote Monitoring and Management (RRM); Configure, Price, Quote (CPQ), plus Remote Connection and Security offerings for more than 25,000 partners in more than 65 countries. ConnectWise was founded in 1982 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-30 Autodata Solutions Group

London, Ontario, Canada

Autodata Solutions Group provides SaaS and software solutions that increase the effectiveness of the automotive sales chain and help put vehicles in consumers' driveways. Autodata Solutions Group was founded in 1990 and is based in London, Ontario.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Turn/River is a private investment firm that specializes in growth capital investments, buyouts, spin-outs, and recapitalizations of small-scale technology, web and Saas companies. The Firm has a particular interest in bootstrapped companies. Turn/River Capital is based in San Francisco, California.


DEAL STATS #
Overall 4 of 9
Sector: Software M&A 2 of 5
Type: Secondary Buyout M&A Deals 1 of 3
State: Texas M&A 1 of 2
Country: United States M&A 4 of 8
Year: 2019 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Magnus Health

Raleigh, North Carolina, United States

Magnus Health is a provider of electronic student health record (SHR) software for independent schools. The SHR is an online solution for collecting, managing and tracking student health information. This technology helps schools save time by streamlining communication with parents, reducing liability for school health professionals and keeping schools prepared in the event of an emergency.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 test IO

San Francisco, California, United States

testIO is a test management system to set up explorative and test case-based testing in just a few minutes. They have a large group of international testers providing coverage across all devices.

Sell -