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Thoma Bravo looks to exit two software companies

6 Dec 2013

exitPrivate equity firm Thoma Bravo is reportedly looking to exit two of its portfolio companies, Hyland Software and LANDesk Software.

The two businesses could collectively be worth more than $2bn, said Reuters, citing people familiar with the matter.

Hyland could be valued at more than $1.2bn based on its EBITDA of around $80m and LANDesk could be sold for ten times its $80m EBITDA, said the sources.

“Hyland Software is not in the process of selling the company or a significant stake in the company,” a Hyland spokesman told Reuters. He did not say whether Thoma Bravo was looking to sell its stake or soliciting offers for the business.

Thoma Bravo bought a 58 per cent interest in Hyland for $265m in 2007 and acquired LANDesk for an undisclosed amount three years later.

Earlier this month Thoma Bravo sold banking services business Digital Insight for $1.65 just four months after picking up the company in a $1.025bn deal.

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