Thoma Bravo looks to exit two software companies

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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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