International private equity group Bridgepoint and global growth investor Summit Partners have sold Calypso Technology to Thoma Bravo, a private equity investment firm focused on the software and technology-enabled services sectors.
The deal, which is subject to customary regulatory approvals, is expected to close in the Q2 2021.
Financial terms of the transaction were not disclosed.
According to David Nicault, partner and global head of digital, technology and media at Bridgepoint, alongside a range of operational initiatives, the transition of the business to a cloud model combined with best-in-class client service was undoubtedly key in accelerating growth.
“With this transformation now complete and having demonstrated very robust growth throughout the covid pandemic, the business is well placed for the next stage of its evolution under new ownership,” says Nicault.
Calypso’s CEO Didier Bouillard explains: “Thoma Bravo has a proven track-record of supporting its portfolio companies by investing in growth initiatives and strategic acquisitions designed to drive long-term value and we are excited to continue delivering innovative solutions to the financial markets while accelerating our growth.”
Holden Spaht, a managing partner at Thoma Bravo, comments: “Calypso’s technology allows its world-class customer base to navigate the highly complex and regulated capital markets with greater transparency and lower costs. We look forward to partnering with Didier and his team to continue building on their great momentum supported by increased investment and innovation and an intense focus on customer success.”
Kirkland & Ellis, LLP is serving as legal counsel to Thoma Bravo. Evercore and Jefferies are serving as financial advisors and Latham & Watkins is serving as legal counsel to Calypso, Bridgepoint and Summit Partners.
