Growth equity firm PSG, in combination with 2ndWave Software, have agreed to acquire JAMS, a workload automation and job scheduling solution, from Fortra, a provider of cybersecurity solutions backed by TA Associates, among other investors.
As a result of the transaction, JAMS will become an independent company owned by PSG, 2ndWave Software, and employees.
Skybot, a complementary workload automation platform under the Fortra umbrella, will also be acquired as part of this transaction and will be included as part of the new company.
The transaction is expected to close in the coming weeks, subject to certain closing conditions and regulatory approvals. Financial terms have not been disclosed.
For over 35 years, JAMS has empowered IT operations teams with automation frameworks for orchestrating critical scheduled and triggered processes. This investment will help JAMS accelerate product innovation, and expand market reach.
Lincoln International served as financial advisor and Goodwin Procter served as legal counsel to Fortra and TA. Weil, Gotshal, & Manges served as legal counsel to PSG and 2ndWave Software.
