Software investment giant Thoma Bravo and rival private equity investor TPG have their sights set on acquiring Workvia, a provider of software for regulatory, financial and ESG reporting, according to a report by Bloomberg.
The report cites unnamed sources as confirming that the two companies are on a list of firms to have held talks with direct lenders over a potential acquisition own the business.
A transaction has yet to be agreed and it’s possible talks could collapse.
Workiva, which had a market valuation of around £3.5 billion before Bloomberg broke news of the takeover interest, saw it shares soar ny as much as 23% on Wednesday.
Both Thoma Bravo and TPG have been active in takeover this year with the former concluding a take private deal for Ping Identity at a $2.8 billion enterprise value and a $10.4 billion takeover of SaaS specialist Anaplan.
TPG meanwhile, invested $360 million into global AI company Fractal, and led a new funding round in digital experience management platform Salsify at $2 billion valuation.
