M&A Deal Summary

Sinch Acquires Pathwire

On September 30, 2021, Sinch acquired software company Pathwire from Thoma Bravo for 1.9B USD

Acquisition Highlights
  • This is Sinch’s 1st transaction in the Software sector.
  • This is Sinch’s largest (disclosed) transaction.
  • This is Sinch’s 3rd transaction in the United States.
  • This is Sinch’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-09-30
Target Pathwire
Sector Software
Buyer(s) Sinch
Sellers(s) Thoma Bravo
Deal Type Add-on Acquisition
Deal Value 1.9B USD

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.

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Buyer(S) 1

Buyer

Sinch

Stockholm, Sweden
Category Company
Founded 2008
Sector Internet Software and Services
Employees3,595
Revenue 28.7B SEK (2023)
DESCRIPTION

Sinch brings businesses and people closer with tools enabling personal engagement. Its cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice, and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many companies. Sinch was formed in 2008 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 9 of 9
Sector (Software) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2021) 3 of 3
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 MessageMedia

Melbourne, Australia

Message4u Pty Ltd. is a global messaging provider that helps businesses of all sizes -- from SMBs to enterprise-level -- better connect with customers. Message4u is based in Melbourne, Australia.

Buy $1.3B

Seller(S) 1

SELLER

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 60 of 79
Sector (Software) 27 of 33
Type (Add-on Acquisition) 27 of 36
State (Texas) 9 of 11
Country (United States) 57 of 73
Year (2021) 7 of 9
Size (of disclosed) 8 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 HCSS

Sugar Land, Texas, United States

HCSS is a provider of fleet management software for estimating, field entry, project management, safety, digital plans, 3-D drone imaging, fleet management, and telematics. HCSS has helped improve operations for over 3,500 companies ranging from $1M to billions in revenue across the United States and Canada. HCSS was founded in 1986 and is based in Sugar Land, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 T2 Systems

Indianapolis, Indiana, United States

T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana.

Sell $356M
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