Thoma Bravo Sells iPipeline to Roper Technologies 

August 8, 2019 | News, Private Equity

The $1.625 billion deal is another win for the private equity shop

Private equity firm Thoma Bravo has announced it will sell cloud-software firm iPipeline for $1.625 billion.

Roper Technologies will make the purchase for a software firm dedicated to life insurance and financial services clients. 

As a result, the deal ends a four-year partnership between the private equity firm and the cloud computing giant. During that time, the partnership saw iPipeline’s valuation increase in part to five strategic acquisitions. iPipeline is considered a leading player in the processing the lifecycles of the life insurance and annuity process

“We are very proud of what we have accomplished working in partnership with Tim Wallace, Larry Berran and the iPipeline management team,” said Holden Spaht, a Managing Partner at the firm. 

Following the transition, Berran, iPipeline’s CFO & COO, will become the firm’s CEO.

Credit Suisse served as exclusive financial advisor to iPipeline on the deal. Kirkland & Ellis and Lauletta Birnbaum acted as legal advisors to iPipeline and Thoma Bravo.

Thoma Bravo continues software success

The firm has offices in San Francisco and Chicago. The private equity firm specializes in software and technology-enabled services sectors. Previous portfolio companies include ABC Financial, Apttus, Deltek, Digital Insight, Global Healthcare, Qlik, SailPoint, Sparta Systems, and Veracode.

Roper Technologies, meanwhile, adds another cloud-computing company to its roster of firms.

“We are excited to add another industry-leading, cloud software business to our family,” said Roper President and CEO Neil Hunn. “The iPipeline transaction demonstrates our disciplined capital deployment strategy, which results in the acquisition of high-quality businesses.”

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