Thoma Bravo-owned QAD to acquire Redzone for about $1bn

QAD, a business software maker was taken private by buyout firm Thoma Bravo in 2021 for $2bn, told Reuters on Wednesday it has agreed to acquire employee productivity platform Redzone for about $1bn.

Redzone, which was founded in 2013, offers enterprise software solutions primarily for the manufacturing industry. The name of the company is a play on the American football term “red zone”, which refers to the end zone on a football field. Redzone is on track to hit an annual revenue rate of $100 million, the companies said.

Founded in 1979, QAD provides cloud-based planning and resources solutions software to manufacturing companies.

The deal will help QAD expand its footprint across different sectors within the manufacturing industry.

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Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors.

Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings.

Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.

Source: Reuters

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