Investment Giant Thoma Bravo Will Purchase Majority Stake In Nintex


Private equity giant Thoma Bravo has purchased a majority stake in Nintex, a workflow automation software vendor that's one of the fastest growing Microsoft technology partners.

The Chicago-based investment firm is asserting itself as a significant player in the IT sector with a string of high-profile acquisitions in recent years, most recently Barracuda Networks. The Nintex transaction should complete by March, though further terms of the deal were not disclosed.

Nintex generated more than $100 million in revenue last year and is profitable. With the latest funding from a major Software-as-a-Service investor, the company will invest in driving organic growth while evaluating acquisitions, Kristin Treat, senior communications executive at Nintex, told CRN.

"Our technology strategy and programs will continue as before, so our partners and customers will not see any change in the direction of our mission to make them successful," Treat said via email.

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[Related: New Partner Portal Ignites Massive Channel Growth For Nintex]

"Nintex will continue to drive its aggressive strategy to the benefit of its customers and partners and will extend its market leadership for the long term," Nintex Chairman and CEO John Burton said in a prepared statement.

Once the deal closes, Burton will step down as CEO, and Eric Johnson, the company's CFO for the last four years, will take the top leadership position. Before joining Nintex, Johnson was vice president of finance at Jive Software during a period in which the collaboration software developer went public.

About a dozen years ago, Nintex spun off as a business division of an Australian systems integrator with a successful Microsoft SharePoint practice.

Today, the company headquartered not far from Microsoft in Bellevue, Wash., delivers intelligent process automation through the Nintex Workflow Cloud to nearly 8,000 global enterprise customers.

Recent technological alliances with Box and Salesforce have made it possible to manage business processes within those popular applications.

Thoma Bravo shook up the security market at the end of 2014 with a deal to acquire Riverbed Technologies for $3.6 billion. The private equity giant teamed with Silver Lake to buy IT infrastructure management vendor SolarWinds for $4.5 billion in October 2015. Last year, it purchased IT security management vendor Continuum in June, and Barracuda for $1.6 billion in November.

Earlier this week, private equity firm Thomas H. Lee Partners agreed to a full acquisition of Alfresco Software, another vendor of business process management solutions.