03 décembre 2020
La version française de ce document n'est pas disponible. Veuillez consulter la version anglaise.
ITASCA, IL — Flexera, the company that helps organizations turn technology into a competitive advantage whether they make it or use it, today announced it has agreed to sell a majority interest in the company to Thoma Bravo, a private equity firm focused on the software and technology-enabled services sectors. Flexera’s existing shareholders TA Associates and Ontario Teachers’ Pension Plan Board (Ontario Teachers’) will continue to hold a meaningful stake in the business. Terms of the transaction were not disclosed.
Flexera, headquartered in suburban Chicago, uniquely serves companies that use technology and those that produce it. The company’s Flexera division provides IT management solutions that help enterprises maximize business value from their technology investments. The company’s Revenera division provides solutions that help technology companies build better products, accelerate time to value and monetize what matters.
Growth and innovation
“This is a resounding vote of confidence in the growth Flexera has shown and the strategic initiatives we’ve undertaken to address the exponential challenges faced by organizations today,” said Jim Ryan, President and CEO of Flexera.
“In order to give enterprises the insight and tools to control their rapidly expanding IT ecosystems, we’re rolling out Flexera One,” continued Ryan. “Flexera One is our SaaS-based IT management solution designed with and for organizations with highly complex hybrid environments. With Flexera One, IT leaders can visualize their entire estate and make data-driven IT decisions from on-premises to SaaS to the cloud—all from a single user interface.
“Our Revenera division continues to post amazing growth quarter after quarter,” Ryan added, “fueled by innovative solutions that help technology companies drive recurring revenue. To cite just one example, this year Revenera became the first vendor to successfully combine software usage analytics and monetization in a single platform.
“The performance of our Flexera and Revenera divisions,” noted Ryan, “brought our former investors at Thoma Bravo back a second time.”
Re-establishing a partnership
Thoma Bravo had previously acquired a majority interest in the company in 2008, when Flexera was spun off from then-parent company Macrovision. “We know Jim and his executive team very well,” said Thoma Bravo Managing Partner Seth Boro, “and we support Flexera’s ambitious vision. The company’s management team has accomplished a great deal over the past 12 years.
“Jim and his team have positioned Flexera for sustained growth by focusing on the strategic challenges enterprises face with complex IT infrastructures,” Boro continued. “Flexera One is the first solution that gives IT executives the ability to see and manage their assets seamlessly across on-premises, SaaS and cloud.
“And the Revenera division is extremely successful at recognizing and delivering what technology companies need to understand and monetize usage,” Boro added.
“We’re thrilled at this chance to ‘get the band back together,’” concluded Boro. “And we want all this great work not only to continue, but to accelerate.”
A future full of promise
Thoma Bravo has helped build some of the world’s leading companies in software applications, infrastructure and cybersecurity.
Flexera is the largest homegrown technology company in the Chicago area, with more than 1,300 employees and offices on four continents. The company was named to Inc. magazine’s 2020 Best Workplaces list and has been named a Top Workplace by the Chicago Tribune for nine consecutive years.
“We have had a productive partnership with Flexera over the last nine years during which time the company has become a leader in its key segments while experiencing consistent growth in recurring revenue and profitability,” said Karen Frank, Senior Managing Director of Equities at Ontario Teachers’. “We look forward to working with the company’s management and our co-shareholders Thoma Bravo and TA Associates in supporting Flexera’s next stage of growth.”
“It is a pleasure to welcome Thoma Bravo as an investor in Flexera,” said Harry D. Taylor, a Managing Director at TA Associates. “We have enjoyed our partnership with the Flexera management team and Ontario Teachers’ over the past three years, helping Flexera to execute on its impressive growth strategies. We look forward to continuing to support the Flexera team and work alongside our fellow investors.”
“We’re grateful for the continued partnership, support and guidance TA Associates and Ontario Teachers’ provide,” Ryan stated. “And we look forward to this exciting next step with Thoma Bravo and to expanding the ways we will deliver for our customers.”
UBS is acting as financial advisor to Thoma Bravo, and Kirkland & Ellis is serving as legal counsel. BofA Securities and Barclays are acting as financial advisors, and Weil, Gotshal & Manges as legal advisor to Flexera, TA Associates and Ontario Teachers’. Goodwin Procter is serving as separate counsel to TA Associates.
Flexera helps companies turn technology into a competitive advantage, whether they make it or use it. Our Flexera division delivers IT management solutions that enable enterprises to maximize business value from their technology investments. Our Revenera division produces industry-leading solutions that help technology companies build better products, accelerate time to value and monetize what matters. Headquartered in suburban Chicago, Flexera’s more than 1,300 employees are passionate about serving category-leading customers across the globe. For more information, visit flexera.com and revenera.com
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of June 30, 2020, Thoma Bravo partners with a Company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com
About Ontario Teachers’
The Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.5% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific regional offices are in Hong Kong and Singapore, and its Europe, Middle East and Africa region office is in London. The defined-benefit plan, which is fully funded as of January 1, 2020, invests and administers the pensions of the province of Ontario's 329,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo
Flexera media contacts
Clement | Peterson for Flexera
Thoma Bravo media contacts
Joe Berg, Finsbury
TA Associates media contacts
Philip Nunes, BackBay Communications
Ontario Teachers’ Pension Plan media contact Dan Madge