Thoma Bravo closed its previously announced buyout of Planview from Insight Venture Partners. No financial terms were disclosed. According to terms of the deal, Thoma Bravo will become Planview’s new majority owner while Insight Venture Partners will retain a minority stake in the company. Based in Austin, Texas, Planview is a provider of work and resource management solutions.
SAN FRANCISCO, Jan. 27, 2017 /PRNewswire/ — Thoma Bravo LLC, a leading private equity investment firm, today announced that it has completed its acquisition of Planview, the global leader in work and resource management (WRM). Insight Venture Partners, a prior investor in Planview, retains a minority shareholding in the company. Financial details were not disclosed.
Planview is the market leader in WRM, an emerging category of software that provides a comprehensive approach across a broad range of work and resource types to increase innovation capacity, improve time-to-market, and accelerate digital transformation. Planview offers its customers a diverse portfolio of solutions designed for strategic planning, portfolio and resource management, new product development, work collaboration, and enterprise architecture.
“The need to quickly translate strategy into action has become crucial for businesses to maintain their edge, and as a result, work and resource management is emerging as the next application growth category,” said Holden Spaht, a managing partner at Thoma Bravo. “Planview has an incredibly strong team and compelling vision for its future. We’re looking forward to partnering with them to ensure they maintain a strong leadership position, as well as pave new paths in the growing WRM space.”
“We’re very excited to partner with Thoma Bravo, who shares our vision of growing and transforming the work and resource management market,” said Greg Gilmore, CEO of Planview. “Through this partnership, Planview gains unique access to significant expertise and resources which will advance our global growth strategy and leadership position.”
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Riverbed, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
As the global leader in work and resource management, Planview makes it easier for all organizations to achieve their business goals. We provide the industry’s most comprehensive solutions designed for strategic planning, portfolio and resource management, new product development, work collaboration, and enterprise architecture. Our solutions span every class of work, resource, and organization to address the varying needs of diverse and distributed teams, departments, and enterprises. Headquartered in Austin, Texas, Planview’s 700 employees serve more than 3,000 customers worldwide through a culture of innovative technology leadership, deep market expertise, and highly engaged communities. For more information, visit www.planview.com.