Flexera 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, 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.
“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.”
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.”
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