Ontario Teachers’s Pension Plan Closes Flexera Buy

The Ontario Teachers’ Pension Plan said Monday that it has completed its buy of a majority stake in Flexera Software. The deal was announced in July. Thoma Bravo, the seller, is retaining a minority stake. Financial terms weren’t disclosed.

PRESS RELEASE

Ontario Teachers’ Pension Plan (Teachers’), through its private investment department, Teachers’ Private Capital, today announced that it has completed the acquisition of a majority stake in Flexera Software, a leading provider of strategic Application Usage Management solutions.
The transaction, originally announced in July, involved Teachers’ acquiring its stake in Flexera Software from Thoma Bravo, LLC, a private equity firm that is retaining a minority interest in the company. Terms of the transaction were not disclosed.
Flexera Software, a Chicago-based company, develops comprehensive solutions that play an increasingly strategic role in managing application usage for application producers and their enterprise customers.
“Teachers’ looks forward to supporting Flexera Software’s continued innovation and strategic vision as it moves to the next stage of its growth,” said Jane Rowe, Senior Vice-President, Teachers’ Private Capital.
“It has been a rewarding partnership with Flexera’s management over the past three years as the company has experienced substantial growth,” said Seth Boro, partner at Thoma Bravo. “We look forward to working with Teachers’ Private Capital on the continued execution of Flexera’s business strategy.”
“Flexera Software is excited to be partnering with Teachers’ during this next phase of our growth,” said Mark Bishof, President and Chief Executive Officer of Flexera Software.  “Together we are poised to extend the value of our strategic Application Usage Management solutions to software vendors, intelligent device manufacturers and enterprises.”
About Teachers’ Private Capital
Teachers’ Private Capital is one of the world’s largest private equity investors. It is the private investment department of the Ontario Teachers’ Pension Plan. With $107.5 billion in net assets as of December 31, 2010, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada. It is an independent corporation responsible for investing the fund and administering the pensions of Ontario’s 295,000 active and retired teachers. For more information, visit www.otpp.com.
About Flexera Software
Flexera Software is a 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 its comprehensive solutions — from installation, licensing, entitlement and compliance management to application readiness and enterprise license optimization — to strategically manage application usage and achieve breakthrough results realized only through the systems-level approach it provides. For more information, visit: http://www.flexerasoftware.com
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for 30 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries, with a particular focus on the software and service sectors, and works in partnership with management to implement its operating and consolidation expertise to build long-term value.  In software, Thoma Bravo has completed more than 40 add-on acquisitions across 18 platform companies with total annual earnings of approximately $1 billion.  For more information, visit www.thomabravo.com.

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