QAD is set to be acquired by Thoma Bravo in a deal that values the business at approximately $2bn.
Once the transaction has been completed, QAD will become a private company with the flexibility to continue investing in the development and deployment of ERP and related enterprise software for manufacturing companies on an international scale. With the deal announced mere hours ago, more details will be made public in the coming days. Anton Chilton will continue to lead QAD as CEO, and the company will maintain its headquarters in Santa Barbara, California.
Chilton said: “Today’s announcement, which is the culmination of a comprehensive process, represents a compelling opportunity to build on QAD’s impressive legacy and strong momentum while maximising value for shareholders. Thoma Bravo has a deep appreciation for the world-class team, reputation and portfolio we have built at QAD, and with their strong support we are excited to take our business to the next level. As a private company owned by Thoma Bravo, we will have enhanced flexibility, focus and resources to invest in – and capitalise on – our expanding growth opportunities, and help our customers thrive in an increasingly dynamic manufacturing environment.”
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Watch out for the ERP Live! interview with Anton Chilton, coming soon.
