Thoma Bravo to take QAD Inc private for $2 billion

(Reuters) – QAD Inc said on Monday private equity firm Thoma Bravo will buy the enterprise software maker for about $2 billion.

As part of the deal, QAD shareholders will get $87.50 per share in cash, a premium of about 20% to the company’s last close.

Thoma Bravo is one the largest software-focused private equity firms with over $78 billion in assets under management. Its portfolio companies include information technology services provider SolarWinds Corp and cybersecurity firm McAfee Corp.

Following the completion of the deal, expected in the fourth quarter of 2021, QAD founder and President Pamela Lopker will retain a significant ownership interest in the company and continue to serve on the board.

Founded in 1979, QAD provides cloud-based planning and resources solutions software to companies.

Morgan Stanley & Co LLC served as financial adviser to QAD’s special committee, while Barclays served as financial adviser to Thoma Bravo.

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