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TPG and TA Associates Close on $1.6 Billion Planview Acquisition from Thoma Bravo
December 18, 2020 GMT
AUSTIN, Texas & SAN FRANCISCO & FORT WORTH, Texas & BOSTON--(BUSINESS WIRE)--Dec 18, 2020--
TPG Capital, the private equity platform of global alternative asset firm TPG, and TA Associates, a leading global growth private equity firm, today announced they have finalized the previously announced acquisition of Planview, a global leader in Portfolio Management and Work Management. Planview’s previous majority shareholder, Thoma Bravo, has retained a minority interest in the company.
In conjunction with the close of the transaction, Planview announced that CEO Greg Gilmore has decided he will step down from his role in the coming months after nearly 25 years of service. The process is not immediate, and Gilmore will continue to oversee the company’s day-to-day operations throughout the search for, and onboarding of, Planview’s next CEO. Gilmore will advise on the comprehensive search in partnership with Planview’s Board of Directors and will continue to serve the company as an independent director following a thoughtful leadership transition.