M&A Deal Summary

Thoma Bravo Acquires Quorum Software

On August 13, 2018, private equity firm Thoma Bravo acquired software company Quorum Software from Silver Lake

Acquisition Highlights
  • This is Thoma Bravo’s 29th transaction in the Software sector.
  • This is Thoma Bravo’s 67th transaction in the United States.
  • This is Thoma Bravo’s 9th transaction in Texas.

M&A Deal Summary
Date 2018-08-13
Target Quorum Software
Sector Software
Buyer(s) Thoma Bravo
Sellers(s) Silver Lake
Deal Type Secondary Buyout
Advisor(s) Credit Suisse Investment Banking (Financial)
Hogan Lovells (Legal)

Target

Quorum Software

Houston, Texas, United States
Quorum Software is a portfolio of finance, operations, and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. Quorum Software was founded in 1998 and is based in Houston, Texas.

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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 70 of 140
Sector (Software) 29 of 59
Type (Secondary Buyout) 17 of 32
State (Texas) 9 of 18
Country (United States) 67 of 120
Year (2018) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-10 TravelClick

New York, New York, United States

TravelClick is a provider of data, technology and media solutions to the global hospitality industry. TravelClick’s suite of products drive demand and increase profitability for leading independent and chain hotels worldwide. The Company offers a full set of solutions including reservations and distribution management, market intelligence-based decision support, and marketing services.

Sell $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-04 Apttus

San Mateo, California, United States

Apttus is a global provider of the Intelligent Middle Office platform allowing enterprises to automate and optimize their most critical revenue and commercial relationship management processes. Apttus is powered by the Apttus Intelligent Cloud, a hybrid-cloud platform utilizing the most advanced technologies from Salesforce, Microsoft and IBM. Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC) and Contract Lifecycle Management (CLM) solutions. Apttus’ innovations include Max, the company’s Applied Artificial Intelligence that enables enterprises to achieve superior business outcomes. Apttus partners with a world-class ecosystem. Apttus was founded in 2006 and is based in San Mateo, California.

Buy -

Seller(S) 1

SELLER

Silver Lake

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 43 of 64
Sector (Software) 8 of 15
Type (Secondary Buyout) 7 of 9
State (Texas) 3 of 7
Country (United States) 32 of 50
Year (2018) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-08 Ant Group

Hangzhou, China

Ant Group is focused on serving small and micro enterprises, as well as consumers. Ant Group is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Ant Financial Services Group was founded in 2004 and is based in Hangzhou, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 SolarWinds

Austin, Texas, United States

SolarWinds provides hybrid IT infrastructure management software to customers worldwide from Fortune 500 enterprises to small businesses, government agencies and educational institutions. SolarWinds was founded in 1999 and is based in Austin, Texas.

Sell -
Mergr

Product

Company

Legal