M&A Deal Summary

Thoma Bravo Acquires Calabrio

On March 23, 2021, private equity firm Thoma Bravo acquired software company Calabrio from KKR

Acquisition Highlights
  • This is Thoma Bravo’s 48th transaction in the Software sector.
  • This is Thoma Bravo’s 92nd transaction in the United States.
  • This is Thoma Bravo’s 4th transaction in Minnesota.

M&A Deal Summary
Date 2021-03-23
Target Calabrio
Sector Software
Buyer(s) Thoma Bravo
Sellers(s) KKR
Deal Type Secondary Buyout
Advisor(s) Perella Weinberg Partners (Financial)

Target

Calabrio

Minneapolis, Minnesota, United States
Calabrio is a customer experience intelligence company that empowers organizations to enrich human interactions. The scalability of its cloud platform allows for quick deployment of remote work models and it gives customers precise control over both operating costs and customer satisfaction levels. The company's AI-driven analytics tools make it easy for contact centers to uncover customer sentiment and share compelling insights with other parts of the organization. Calabrio was founded in 2007 and is based in Minneapolis, Minnesota.

Search 200,500 Deals Now

SEARCH BY

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

Try For Free 7-Day Free Trial

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 102 of 139
Sector (Software) 48 of 59
Type (Secondary Buyout) 28 of 31
State (Minnesota) 4 of 4
Country (United States) 92 of 120
Year (2021) 4 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-22 Adenza

New York, New York, United States

Adenza provides customers with end-to-end, trading, treasury, risk management, and regulatory compliance platforms which can be delivered on-premise or on-cloud. It enables financial institutions to consolidate and streamline their operations with front-to back solutions integrated with data management and reporting, benefitting from a single source of truth across the business. Adenza is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 Applitools

Covina, California, United States

Applitools is a provider of visual test automation software. Applitools provides software engineers with AI-based and cloud-powered solutions to help automate functional and visual testing for their applications and ensure a seamless user experience. Applitools was founded in 2013 and is based in Covina, California.

Buy -

Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 155 of 204
Sector (Software) 7 of 8
Type (Secondary Buyout) 28 of 35
State (Minnesota) 3 of 4
Country (United States) 66 of 89
Year (2021) 4 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Cordis

Miami Lakes, Florida, United States

Cordis is a provider of cardiovascular and endovascular medical devices. Founded in 1966, the Company has a long history of innovation in high-quality and minimally-invasive cardiovascular technology. Its products are primarily used in procedures to diagnose and treat the narrowing or blockage of arteries. Cordis was founded in 1966 and is based in Miami Lakes, Florida.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Feedzai

San Mateo, California, United States

Feedzai is an AI/ML-based fraud detection platform used by financial institutions, payment providers, and merchants to manage the risk of financial crime while enabling an optimized experience for end-users. The core of Feedzai’s offering is its artificial intelligence and machine learning platform, which processes customer and third-party data to identify, assess, and accelerate the remediation of potential threats. Feedzai was founded in 2009 and is based in San Mateo, California.

Buy -
Mergr

Product

Company

Legal