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Thoma Bravo to take control of Apttus


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Thoma Bravo to take control of Apttus

Private equity firm Thoma Bravo agreed to buy a majority stake in middle-office software provider Apttus Corp. for an undisclosed amount.

The transaction is set to be finalized in early October, pending regulatory approvals and customary closing conditions. Thoma Bravo Operating Partner and former Blue Coat Systems President and COO David Murphy will become executive chairman of Apttus upon completion of the deal.

Apttus, which is behind the Apttus Omni platform, also offers quote-to-cash, contract lifecycle management and other middle-office solutions.

Goldman Sachs & Co. LLC was Apttus' lead financial adviser on the deal, while Cooley LLP was its legal adviser. Kirkland and Ellis LLP served as Thoma Bravo's legal adviser, and Deutsche Bank Credit Solutions & Direct Lending is providing funding for the transaction.