Flexera Software Awarded Illinois Venture Capital Association’s 2012 Private Equity Portfolio Company of the Year
Schaumburg, Ill. – January 23, 2013 – Flexera Software, the leading provider of application usage management solutions for application producers and enterprises, is pleased to announce that it has been awarded the Illinois Venture Capital Association’s (IVCA) 2012 Private Equity Portfolio Company of the Year. The award is presented to an Illinois-based company backed by a private equity firm that has had an “exit” or liquidity event and provided outstanding returns to the investors. Private equity investment firm Thoma Bravo, LLC sold a majority stake in the company in July, 2011.
“Flexera Software was chosen for the award by a panel of 54 investment professionals, including IVCA’s board of directors, based on its outstanding performance and the tremendous value it created for Thoma Bravo,” said Maura O’Hara, Executive Director at IVCA. “It has emerged as a strong business leader and employer in Illinois and serves as model of growth and success for other entrepreneurial companies.”
Thoma Bravo purchased Flexera Software from Macrovision for $200 million in 2008. Thoma Bravo implemented its buy and build strategy and worked with the existing management team to increase Flexera Software’s business infrastructure. Flexera Software is now a market leader in each of its four business lines: Licensing & Entitlement Management, Software License Optimization, Application Readiness, and Installation.
In July, 2011, Thoma Bravo sold its majority stake in the company to Ontario Teachers’ Pension Plan netting Thoma Bravo 4.6 times its capital, which translated to a 65 percent internal rate of return for the firm. Thoma Bravo retained a significant minority stake in the company, a signal of confidence that Flexera Software would continue its stellar performance.
“Thoma Bravo has enjoyed working with the experienced and diligent management team at Flexera Software to build the company’s business and we look forward to the company’s continued growth,” said Seth Boro, partner at Thoma Bravo. “This award demonstrates the successful execution of Thoma Bravo’s buy and build investment strategy, which now has been successfully applied in more than 25 software company investments.”
During its ownership by Thoma Bravo, Flexera Software completed four add-on acquisitions. In early 2009 it bought Intraware Inc., which gave the company a cloud-based entitlement management system, and later that year added Honico Software GmbH and a Software License Optimization solution for SAP applications. In May 2010 it purchased ManageSoft, which also provides enterprise software management. It also bought technology from LinkRight Software LLC soon after its buyout by Thoma Bravo in 2008. By 2010, Flexera Software had grown its revenue by 40 percent and EBITDA by 70 percent over the course of Thoma Bravo’s ownership.
“We are proud to receive this award from IVCA, as it is a testament to the leadership position we’ve established in Application Usage Management,” said Mark Bishof, President and CEO of Flexera Software. “With the encouragement and support of Thoma Bravo, we’ve made some bold decisions, such as moving our headquarters from Silicon Valley to Chicago, and have enjoyed tremendous success, including another year of tremendous growth in 2012. We were recently named one of the top Illinois workplaces, and with 550 employees, we’ve added more than 200 jobs to the economy, forging a creative and challenging environment for high performers to flourish in their careers.”
Learn more about:
- Flexera Software’s Licensing & Entitlement Management solutions
- Flexera Software’s Software License Optimization solutions
- Flexera Software’s Application Readiness solutions
- Flexera Software’s Installation solutions
- Related Flexera Software Webinars
- Related Flexera Software White Papers
- Related Flexera Software Success Stories
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About Flexera Software
Flexera Software is the leading provider of strategic solutions for Application Usage Management; solutions delivering continuous compliance, optimized usage and maximized value to application producers and their customers. Flexera Software is trusted by more than 80,000 customers that depend on our comprehensive solutions- from installation and licensing, entitlement and compliance management to application readiness and software license optimization – to strategically manage application usage and achieve breakthrough results realized only through the systems-level approach we provide. For more information, please go to: www.flexerasoftware.com.
IVCA (Illinois Venture Capital Association) advocates for the venture capital/private equity community (VC/PE) in Illinois. IVCA membership includes investment firms with over $84 billion in assets under management and over 50 of the most recognized professional service firms providing the highest level of expertise to our industry and Illinois universities with investment and entrepreneurial programs. VC/PE professionals invest money and expertise in private companies to accelerate growth and profitability.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm applies its own industry consolidation investment strategy and process, which seeks to create value by partnering with a company’s management to improve business operations and make strategic acquisitions that will accelerate growth. Thoma Bravo invests across multiple industries, with a particular focus on application and infrastructure software and financial and business services. The firm currently manages a series of private equity funds representing almost $4 billion of equity commitments. In software, Thoma Bravo has invested in 26 companies that have completed 58 add-on acquisitions to produce total annual earnings of approximately $1 billion. For more information, visit www.thomabravo.com.
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