Toronto-based media company Thomson Reuters has acquired Pondera Solutions from Serent Capital. No financial terms were disclosed. Pondera is a a cloud-computing solution that combats fraud, waste, and abuse in government programs.
SAN FRANCISCO & AUSTIN, Texas–(BUSINESS WIRE)–Serent Capital, a San Francisco and Austin based private equity firm focused on investing in high-growth technology and services businesses, announced that its portfolio company, Pondera Solutions, a cloud-computing solution that combats fraud, waste, and abuse (“FW&A”) in government programs, has been acquired by Thomson Reuters, a leading provider of business information services.
Founded in 2011, Pondera focuses on leveraging the power of data, advanced analytics, and human intelligence to combat FW&A. With its suite of solutions, Pondera has helped clients prevent and collect hundreds of millions of dollars in improper payments. Pondera and its FraudCaster platform have been recognized on Government Technology Magazine’s GovTech 100 list for five consecutive years.
“Pondera Solutions has built a unique platform and company over the last nine years – one that leverages innovative technologies to drive meaningful impact for its customers and their communities,” stated David Kennedy, Partner at Serent Capital. “It has been an honor to collaborate with Pondera as it has grown since partnering with Serent. Thomson Reuters is a great home for Pondera’s next chapter as a growth company.”
Stewart Lynn, Partner at Serent Capital, added, “We continue to have a strong belief and focus in the government technology market, especially during these times when governments collaborate, communicate, and work to support our communities in a digital world.”
Shea & Company served as a financial advisor and Choate, Hall & Stewart acted as legal advisor for Pondera Solutions.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.