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The pandemic accelerated private equity fundraising and deployment in the technology sector but this year’s tech stock crash is forcing a recalculation among some GPs…
Last year, during a keynote address in Berlin, one of the founders of Thoma Bravo, Orlando Bravo, declared: “Software is not an industry… software is the business of every industry”.
The pandemic was making technology more ubiquitous, he argued. Today, almost every business is on its way to becoming a technology company or, at the very least, a tech-enabled service company. But the crashing volatility of tech stocks during Q1 this year has forced a
Third-party service providers were once focused on fund administration and accounting, but they are fast extending into the middle and front offices of private equity firms. Operational efficiencies and pressure from LPs will accelerate the shift…
After more than three decades of transforming their portfolio companies, private equity firms are bringing new operational solutions into their own businesses. In many cases, the answers lie with a new generation of technology service providers.
In a survey by Private Equity Wire in June, almost half of more than 50 respondents said they had outsourced part of their firm’s operations over the past
Within private equity fund portfolios and across the economy lie treasure troves of valuable financial information. GPs are feeding it into algorithms and prediction models to bolster their strategy…
Thoma Bravo has completed its acquisition of SailPoint Technologies Holdings, a specialist in enterprise identity security, in an all-cash transaction valued at approximately $6.9 billion.
The agreement to be acquired was previously announced on 11 April, 2022 and approved by SailPoint stockholders at the Special Meeting of Stockholders held on 30 June, 2022.
SailPoint stockholders are receiving $65.25 in cash for each share of the common stock they owned. SailPoint’s common stock has ceased trading and will be delisted from the New York Stock Exchange.
KKR has completed the acquisition of Barracuda, a provider of cloud-first security solutions, from software investment firm Thoma Bravo. Financial terms of the transaction have not been disclosed. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs).
More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data.
JP Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Guggenheim Securities, DBO Partners and Barclays
Royal Park Partners, a specialist financial advisor to the fintech industry, is expanding its leadership team with the hire of ex-Barclays dealmaker Niccolò Gamaleri as senior director. In his new role Gamaleri will focus on supporting fintech founders and private equity-backed companies through capital raises, M&A transactions, and IPOs.
His background in financial institutions M&A brings a new dimension to Royal Park Partners’ advisory offering. As the fintech sector becomes increasingly regulated, and its funding base evolves, knowledge of regulatory requirements, financing solutions, and industry standards is crucial.
Gamaleri bolsters the team’s capabilities and expertise, bringing extensive experience from Barclays
Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective environmental, social and governance (ESG) data management solutions, has launched new metrics in-platform to enable financial market participants to collect the sustainability-related information outlined under the Sustainable Finance Disclosure Regulation (SFDR).
To support this product offering, Novata also announced the expansion of its sales team into European markets with the addition of a group of experienced sales professionals in London.
Novata is backed by a consortium that includes the Ford Foundation, S&P Global, Hamilton Lane, and Omidyar Network, and is also supported by
MPE Partners (MPE), along with portfolio company Motor-Services Hugo Stamp (MSHS), has acquired Pacific Power Group, (PPG), an industry leading provider of products, parts, and maintenance, repair, and overhaul (MRO) services for marine, energy, commercial, and industrial equipment.
MPE and MSHS partnered in the transaction with members of PPG’s management team, led by Bill Mossey.
Forbright Bank and City National Bank of Florida provided financing to support the transaction. BakerHostetler served as legal advisor to MPE. Cascadia Capital acted as the investment banking advisor to Pacific Power Group. Terms of the transaction have not been disclosed.
EdTech startup Microverse, an online school for remote software developers, has doubled its valuation with an extension of $4 million to its Series A round. This brings the total Series A to $16.5 million. The extension came from existing investors Northzone, General Catalyst, All Iron Ventures and business angels, and is further complemented by new investor, True Equity.
The new funding has more than doubled the company’s valuation and will enable them to keep building on their mission of connecting international talent to job opportunities worldwide. The investment will also allow Microverse to continue to scale and meet soaring demand. The
Smart Recruit Online has secured an additional £2 million investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), Mercia’s EIS funds and private investors.
The Milton Keynes-based company, which currently employs 14 staff, is set to open a digital sales office in the East Midlands and plans to create 15 new jobs in the next two years. The latest funding will also enable it to enhance and scale up its platform in the run-up to raising a Series A investment next year.
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