TPG Capital and TA Associates are to acquire Planview, a Austin, Texas-based provider of Portfolio Management and Work Management solutions, for a purchase price of $1.6 billion.
The seller was Planview’s existing majority shareholder, Thoma Bravo, which will retain a minority interest in the company. UBS Investment Bank and Deutsche Bank Securities Inc. provided committed debt financing, and alongside Barclays and Jefferies LLC acted as financial advisors to TPG Capital and TA Associates.
Led by Greg Gilmore, CEO, Planview provides a comprehensive platform that spans the spectrum of Portfolio Management and Work Management solutions for organizations to build an innovation culture, realize agile at scale and make the project to product shift.
The company has more than 700 employees supporting 3,500 customers and 1 million users worldwide.