Apax set to buy InfoVista from Thoma Bravo

Katharina Semke
29 March 2016

Tweet
Facebook
LinkedIn
Google plus
Send to

French GP Apax Partners has made a binding offer to acquire network performance software developer InfoVista from American GP Thoma Bravo.

Thoma Bravo stated that following its acquisition of InfoVista in April 2012 via a take-private acquisition, the company doubled in size through organic growth and complementary acquisitions.

Apax won the deal via a limited auction process, which the CEO of InfoVista and Thoma Bravo had organised by Lazard. Less than five interested parties with previous experience in the sector competed for the asset. The process took less than three months.

Apax stated that apart from the price, its sector focus helped in winning the bid. The GP has a team dedicated to TMT, with 30 previous deals and 15 years' experience in the space. In terms of growing the company, Apax will follow a classical approach, targeting organic and acquisitive growth. The TMT sector is growing at 5-6% per annum and offers global acquisition possibilities, according to Apax.

Debt fund Ares will provide unitranche debt for the transaction and will be the sole lender.

The deal will be conducted via the GP's latest fund, Apax France IX. unquote" understands that the vehicle held its first close a few weeks ago at €610m and will follow the same strategy as its predecessors.

The GP's last investment was in December 2015, when it acquired Vizada, Airbus's commercial satellite communications arm, in a carve-out. The commercial subsidiary was fully offloaded, but Airbus retained the military- and government-related business.

Company
InfoVista is a provider of network performance management software solutions and services for communications service providers, mobile operators, and IT-intensive enterprises and government organisations.

Founded in 1995 and headquartered in Paris, InfoVista has 430 employees, 15 regional offices and three research and development centers. The company claims to have 1,200 customers in more than 120 countries.

People
Apax Partners - Gilles Rigal (partner).
InfoVista - Philippe Ozanian (CEO).
Thoma Bravo - Robert Sayle (partner).