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Francisco Partners and TPG to Acquire Boomi from Dell Technologies
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TiEcon 2021: From Startup to IPO - Founders, Funders, Public Lister, and Storytellers Will Engage a Global Audience
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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
TPG and TA Associates Close on $1 6 Billion Planview Acquisition from Thoma Bravo - Press Release
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Private equity firms close $1.6 billion deal for Austin-based Planview
Two private equity firms said Friday they have completed their $1.6 billion acquisition of Austin-based software maker Planview.
TPG Capital, the private equity platform of global asset firm TPG, and private equity firm TA Associates partnered to buy Planview from Thoma Bravo, a Chicago-based private equity firm. Thoma Bravo retains a minority interest in Planview.
The deal – which was announced in November –was the third ownership change for Planview since 2013. Thoma Bravo bought the company in 2017 from Insight Venture Partners, which had acquired a majority stake in it in 2013.
Founded in 1989, Planview sells software that companies use to plan, track and manage work. The company employs more than 700 people worldwide, with about 275 Austin-based employees.