M&A Deal Summary

Thoma Bravo Acquires NextGen Healthcare

On September 6, 2023, private equity firm Thoma Bravo acquired information technology company NextGen Healthcare for 1.8B USD

Acquisition Highlights
  • This is Thoma Bravo’s 35th transaction in the Information Technology sector.
  • This is Thoma Bravo’s 23rd largest (disclosed) transaction.
  • This is Thoma Bravo’s 117th transaction in the United States.
  • This is Thoma Bravo’s 31st transaction in California.

M&A Deal Summary
Date 2023-09-06
Target NextGen Healthcare
Sector Information Technology
Buyer(s) Thoma Bravo
Deal Type Going Private
Deal Value 1.8B USD
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins (Legal)

Target

NextGen Healthcare

Irvine, California, United States
NextGen Healthcare is a provider of healthcare technology solutions. NextGen is reimagining ambulatory healthcare with solutions that enable high-performing practices to create healthier communities. NexGen partners with medical, behavioral and oral health providers in their journey toward whole person health and value-based care. NextGen Healthcare was founded in 1974 and is based in Irvine, California.

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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 132 of 140
Sector (Information Technology) 35 of 37
Type (Going Private) 36 of 39
State (California) 31 of 31
Country (United States) 117 of 120
Year (2023) 3 of 6
Size (of disclosed) 23 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-23 ForgeRock

San Francisco, California, United States

ForgeRock is the digital identity management company transforming the way organizations interact securely with customers, employees, devices, and things. Organizations adopt the ForgeRock Identity Platform as their digital identity system of record to monetize customer relationships, address stringent regulations for privacy and consent (GDPR, HIPAA, FCC privacy, etc.), and leverage the internet of things. ForgeRock was founded in 2010 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-26 Exostar

Herndon, Virginia, United States

Exostar is a cloud-based identity and access management and secure collaboration software provider serving the aerospace and defense, healthcare, and life sciences industries. Exostar’s platforms create exclusive communities within these highly-regulated industries where organizations can securely collaborate, share information, and operate compliantly. Exostar was founded in 2000 and is based in Herndon, Virginia.

Sell -
Mergr

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Company

Legal