Thoma Bravo LLC struck a deal to acquire a majority stake in Cority Software Inc., a Canadian provider of environmental, health, safety and quality software.
Norwest Venture Partners will retain a significant stake in Cority and re-invest more than half of its proceeds. Another investor, Georgian Partners Growth LP, will also reinvest a portion of its existing investment, while continuing to advise Cority in the area of applied analytics.
The deal, terms of which were not disclosed, is expected to be completed by the end of June, subject to customary closing conditions.
Thoma Bravo is a private equity investment firm that provides equity and strategic support to management teams building growing companies, with a particular focus on the software and service sectors.