QAD, a business software provider and a portfolio company of Thoma Bravo since being taken private by the software investment specialist for $2 billion in 2021, is to acquire employee productivity platform Redzone in a deal worth around $1 billion, according to a report by Reuters.
Founded in 2013, Redzone offers enterprise software solutions primarily for the manufacturing industry, and according to QAD is on course to achieve an annual revenue rate of $100 million.
The deal will help QAD, which provides cloud-based planning and resources solutions software to manufacturing companies, expand its footprint across different sectors within the manufacturing industry.
