Tag Archives: Software

Aliter backed TXP acquires Gen technology specialist Metatech

Deal supports scale-up of leading UK digital transformation and resourcing solutions group  

 
John Antunes, CEO, TXP (L) and Andy Scott, director, Metatech (R)

 

John Antunes, CEO, TXP (L) and Andy Scott, director, Metatech (R)
 

TXP (Technology x People), a portfolio company of Aliter, has completed the acquisition, for an undisclosed sum, of Metatech Solutions Ltd. (Metatech), a highly specialised software company focused on automated Gen modernisation and migration solutions.

 

Metatech now becomes part of Aliter backed TXP, which delivers IT consulting, technology development and people resourcing to a diversified blue chip customer base.

 

Newcastle based Metatech offers a range of highly specialist IT automation solutions for the model-based development CASE (Computer-Aided Software Engineering) tool Gen.  Its proprietary suite of automation tooling, called ‘MigrationWorks’, supports the key technical stages of a Gen legacy modernisation project.   

 

In recent years, Metatech’s work has been within the public, financial services, insurance, healthcare, aviation, automotive, telco and system integrator sectors, both in the UK and internationally. The firm has established a leading reputation in the automated Gen legacy modernisation and migration space, including regular collaborations with TXP.

 

Greig Brown, Aliter partner said, “The outlook for the conversion market is positive with increasing activity in modernising legacy IT systems. With its proven track record and proprietary technology, Metatech helps place the group in a strong position to benefit from this growing market.  As part of our portfolio of investments in the UK support services sector, we have, in recent years, invested significantly and successfully in the ICT services sector. Drawing on the knowledge, understanding and experience we have gained in the sector, we very much look forward to working with the team at TXP to support and grow the business, including further acquisition activity”.

 

Metatech’s senior management team is led by Andy Scott, who is remaining with the business to work closely with TXP’s CEO, John Antunes, to support further growth.

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Main Capital Partners Successfully Closes €520 aMillion Multi-Asset Continution Fund

Main Capital Partners
Main Capital Partners, a leading enterprise software investor operating in Europe and North America, announces the successful closing of its first continuation fund, with a total €520 million in commitments.

The transaction was fully capitalized by a group of new and existing limited partners, co-led by Lexington Partners and StepStone Group, with Trinity River Holdings, LP serving as sub-lead. The fundraise experienced significant demand from globally recognized leaders in secondary transactions.

The continuation fund was established to (partially) acquire a diversified group of three strong-performing portfolio companies across several Main Capital Partners funds. The assets in the fund include SDB, a leading Dutch healthcare software provider, MACH, a German GovTech powerhouse, and Björn Lundén, a prominent Sweden-based financial administration software company with activities throughout Europe. Main Capital Partners aims to continue growing these star assets into European leaders in their respective domains, both organically and through active buy-and-build strategies.

This transaction has provided existing investors with optionality, offering either liquidity or the opportunity to continue investing in the growth trajectories of the three high-performing companies involved. Additionally, the fund provides the portfolio companies with additional time and capital to pursue further value-accretive buy-and-build strategies under the continued stewardship of Main Capital Partners.

This transaction aligns perfectly with our strategy to build large and resilient software groups. We are fully dedicated to continue building large and international software groups in our core product markets HealthTech, GovTech and Financial Administrative software.”

– Charly Zwemstra, Managing Partner and CIO at Main Capital Partners

Charly Zwemstra, Managing Partner and CIO at Main Capital Partners: “For over 20 years, Main Capital Partners has proven itself a leader in enterprise software investing. This transaction aligns perfectly with our strategy to build large and resilient software groups. We are proud of what we have achieved in partnering with these companies and their management teams so far. We are fully dedicated to continue building large and international software groups in our core product markets HealthTech, GovTech and Financial Administrative software.”

Jorn de Ruijter, Head of Fund Structuring and Investor Relations at Main Capital Partners: “This transaction has provided our investors with optionality to take liquidity at a market-driven price or continue to stay invested and profit from future upside, while allowing the portfolio companies the opportunity to continue pursuing their growth ambitions, a great result for all parties involved. We look forward to partnering with Lexington Partners, StepStone Group and Trinity River Holdings, LP on this new fund and continuing to support our portfolio companies for the years to come.”

Proskauer Rose LLP acted as lead legal counsel and Main did not use a placement agent for the fundraising.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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EURAZEO TO INVEST IN 3P, A LEADING SOFTWARE PROVIDER OF PUBLIC PROCUREMENT AND POST PROCUREMENT SOLUTIONS IN BELGIUM AND FRANCE

Eurazeo

Eurazeo, through its Small-mid buyout team, has entered into exclusive negotiations relating to an investment in 3P, a leading software publisher specialized in procurement and post-procurement as well as asset management solutions for public-sector institutions. The transaction marks the eleventh investment for Eurazeo PME IV, the third outside France, and demonstrates the expertise of the Small-mid buyout strategy in supporting fast-growing European technology and services mid-market champions in their international expansion.

Headquartered in Belgium and created in 2001, 3P offers a fully integrated platform with a subscription-driven revenue model designed to automate, secure and optimize tendering, procurement as well as post-procurement processes, while helping clients ensure compliance with the latest European, national and regional legislation and requirements. 3P’s products are used by 2,000+ public clients across Belgium and France and caters for the needs of diversified clients: municipalities, regional authorities, hospitals, universities, police forces, etc.

3P has showcased double-digit historical growth providing clients with mission-critical software enabling public entities to save time and optimize procurement processes while reducing administrative burden and ensuring compliance. Eurazeo will support and accelerate the company’s development by pursuing its European expansion strategy, which has been initiated in France by the historical shareholders: founders, 3d investors and ING who will all reinvest in the transaction alongside Eurazeo and the management team.

Clément Morin, Managing Director Small-mid buyout, at Eurazeo:

“We are thrilled to partner with 3P management team and historical shareholders on this next phase of growth. 3P is a perfect match to our ambition to support European software champions in both their organic and external growth. We now look forward to supporting the group by leveraging Eurazeo’s network, resources and experience, especially in cross-border M&A.“

Pascal Meyers, CEO of 3P:

“We are very enthusiastic about the arrival of Eurazeo as majority shareholder. We are convinced that their strong expertise, network and European DNA will help us to accelerate our strong growth ambitions to become Europe’s premier public-sector procurement technology partner, based on further broadening our European footprint as well as leveraging our major investments in a next-gen ai-empowered cloud solution.”

The reinvesting shareholders:

The founders, 3d investors, and ING are thrilled to welcome Eurazeo as 3P’s majority shareholder, reinforcing their confidence in 3P’s future through a significant reinvestment. There is a shared conviction that Eurazeo’s expertise as a leading IT investor will empower 3P to solidify its position in Belgium, and France and expand throughout Europe. They are fully committed to supporting 3P’s management team and Eurazeo in scaling 3P’s highly efficient GovTech public procurement platform throughout Europe.

Information – Individual investors

Eurazeo Investment Manager (EIM) and Eurazeo Mid Cap (EMC) are merging to form Eurazeo Global Investor (EGI)

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Main Capital Partners announces its acquisition of Norwegian document collaboration and e-archiving specialist Documaster

Main Capital Partners

Main Capital Partners today announces its majority investment in Documaster, a Norwegian provider of mission-critical digital infrastructure for streamlined document management and e-archiving.

Moving forward, Main will act as a strategic partner to the management team, supporting Documaster in its growth journey. By pursuing a selective buy-and-build strategy, Documaster has strong potential to further internationalize and become a European leader in critical document and data management for public and regulated private sectors.

Documaster is a Norwegian cloud-native provider of digital infrastructure for streamlined document management and e-archiving. The services provided by Documaster simplify the processes of capturing, storing, organizing, and retrieving documentation, addressing the common issue of time-consuming searches for business-critical information within disorganized file systems. Today, Documaster serves approximately 750 customers, over 90% of which are public sector organizations, complemented by clients in highly regulated private sectors.

Attractive market dynamics and international scalability
The primary motivations behind the strategic acquisition with Documaster include attractive market dynamics as well as its scalability. In an increasingly complex regulatory environment, Documaster empowers organizations to manage their data and documents in a secure, compliant, and efficient manner. The combination of regulatory drivers, long-term customer commitment, and the shift to cloud-based solutions makes the archiving software market highly attractive. As data volumes continue to grow, companies that provide innovative, scalable, and secure archiving solutions are well-positioned for long-term success.

The company is well-positioned to continue its international growth, with an existing presence in Norway, Sweden, the Netherlands, and Belgium. Leveraging Main’s experience and network in supporting companies’ cross-border growth, both organically and through strategic add-on acquisitions, Documaster aims to further expand in the Nordic market as well as Continental Europe. The experienced management team will remain closely involved post-closing to continue their growth journey alongside Main.

We look forward to working closely with the team to accelerate international growth and jointly build a leading player in the document management and e-archiving space.”

– Wessel Ploegmakers, Partner & Head of Nordics

Svein Henning Kirkeng, CEO of Documaster: “We are very excited to embark on this new chapter with Main Capital. Their extensive experience in scaling SaaS companies and fostering long-term growth aligns perfectly with Documaster’s ambitions. Together, we will continue to deliver value to our customers while expanding our reach and capabilities. I am proud of what the team has achieved so far and look forward to what lies ahead.”

Wessel Ploegmakers, Partner & Head of Nordics at Main Capital Partners: “We are proud to join forces with the Documaster team. Their strong market position and mission-critical solutions are well aligned with our investment focus. We look forward to working closely with the team to accelerate international growth and jointly build a leading player in the document management and e-archiving space.”

About Documaster

Founded in 2014 in Oslo, Documaster is a cloud-native provider of document management and e-archiving solutions. The company’s technology streamlines the capture, storage, organization, and retrieval of documentation, helping organizations reduce inefficiencies and maintain compliance. Its core product, Documaster Archive, is primarily targeted at public sector entities and is designed to meet strict regulatory and operational requirements. Documaster currently serves approximately 750 customers, primarily in the public sector across Norway, Sweden, and the Netherlands.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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Apax Funds to acquire Finastra’s Treasury and Capital Markets Division

Apax-Global-Alpha

 

Apax Global Alpha Limited (“AGA”), the closed-ended investment company providing access to the Apax Private Equity Funds, today announces that it expects to invest approximately €25m in the Treasury and Capital Markets (“TCM”) division of Finastra on a look-through basis.

On 19 May 2025, Apax XI Fund (“Apax XI”), in which AGA is a limited partner, announced that it had reached an agreement to acquire the TCM division of Finastra, a global provider of financial services software. Upon completion of the transaction, TCM will be rebranded and operated as a standalone business. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and the completion of information and consultation processes with employee representative bodies, where required.

With a client base of over 340 financial institutions, TCM is a trusted enabler of risk management, regulatory compliance, and capital markets operations. Its suite of software products, most notably Kondor, Summit, and Opics, supports front-to-back trade lifecycle management, risk, compliance, and operations. Built on decades of intellectual property and long-standing client relationships, TCM is deeply embedded in the global banking ecosystem.

As an independent company working in partnership with the Apax Funds, TCM will be able to invest further in new product development, marketing, and technology infrastructure to meet its customers’ evolving needs. The Apax Funds will support TCM in sharpening its strategic and operational focus, enhancing customer experience, and accelerating technological advancements, including strengthening the company’s cloud offering.

The transaction draws on the Apax Funds’ expertise in the software subsector with notable investments including Paycor, Zellis Group, and ECi Software. The Apax Funds also have extensive experience in supporting corporate carveouts in the software space.

Jason Wright, Partner at Apax, said:
“TCM is a robust, mission-critical platform with leading functionality and an impressive customer base. We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies.”

Gabriele Cipparrone, Partner at Apax, added:
“We’re excited to partner with the TCM team as the business begins a new chapter as an independent organisation. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”

Note that AGA’s expected investment in TCM is calculated based on the look-through positions of Apax XI’s overall investment in TCM and is translated based on the latest exchange rates available where applicable1. AGA has a commitment of c.$700m to Apax XI2.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a portfolio of private equity funds advised by Apax as well as a smaller portfolio of debt instruments.

For more information about the transaction, please visit:
https://www.apax.com/news/press-releases/

END

Contact details:
Investor Relations – AGA
Lorraine Rees / Aditya Jhaveri
T: +44 (0) 207 872 6364
E: Investor.relations@apaxglobalalpha.com

Joint Brokers
Jefferies International Limited
Gaudi Le Roux
T: +44 (0)20 7548 4060
E: gleroux@jefferies.com

Investec Bank plc
David Yovichic
T: +44 (0)20 7597 4952
E: david.yovichic@investec.com

Footnotes

  1. Based on Bloomberg closing EUR/USD FX rate on 19 May 2025 of 1.124
  2. AGA’s commitment in Apax XI of c.$700m represents a commitment of $476.5m in the USD tranche and €198.4m in the euro tranche.

Notes

  1. Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to “AGA” or “the Company”. References to Apax Partners LLP have been abbreviated to “Apax”, or “the Investment Adviser”.
  2. Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 (“MAR”).
  3. his announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to “US persons” (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”)) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions.
  4. The information presented herein is not an offer for sale within the United States of any equity shares or other securities of Apax Global Alpha Limited (“AGA”). AGA has not been and will not be registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition, AGA’s shares (the “Shares”) have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Shares may not be offered or sold or otherwise transferred within the United States, or to, or for the account or benefit of, US Persons, except pursuant to an exemption from the registration requirements of the Securities Act and under circumstances which will not require AGA to register under the Investment Company Act. No public offering of the Shares is being made in the United States.
  5. This announcement may include forward-looking statements. The words “expect”, “anticipate”, “intends”, “plan”, “estimate”, “aim”, “forecast”, “project” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA’s intentions, beliefs or current expectations concerning, among other things, AGA’s results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA’s present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement.

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended investment company listed on the London Stock Exchange. It is regulated by the Guernsey Financial Services Commission.

AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses).

The Company makes Private Equity investments in Apax Funds, and has a portfolio of primarily Debt Investments, derived from the insights gained via Apax’s Private Equity activities.

Further information regarding the Company and its publications are available on the Company’s website at www.apaxglobalalpha.com.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of nearly $80 billion. The Apax Funds invest in companies across three global sectors of Tech, Services, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

 

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Main Capital Partners acquires US-based financial-administrative software providers Fraxion and Centreviews

Main Capital Partners

Strategic merger enhances mid-market finance automation, uniting procurement and AP workflows to boost efficiency, compliance, and global customer reach.

May 21, 2025, Boston – Main Capital Partners continues to invest in the financial-administrative software space with a majority investment in Fraxion and the addition of Centreviews as the first add-on acquisition. This marks Main’s fourth US platform investment since opening its Boston office in 2022.

Founded in 1997 and headquartered in Seattle, Washington, Fraxion is a provider of cloud-based procurement and spend management software for mid-market organizations. Fraxion’s platform empowers finance and operations teams with the automation, visibility, and control needed to manage procure-to-pay workflows, ensure policy compliance, and drive cost-effective decision-making across the organization.

To further strengthen Fraxion’s AP automation capabilities, Main will effectuate a combination between Fraxion and Centreviews, a software business headquartered in Two Harbors, Minnesota. Centreviews’ software platform centralizes invoice processing, approvals, and payments, enabling finance teams to reduce manual tasks and processing costs, accelerate AP cycles, and ultimately improve visibility.

The combination serves a diverse client base of 500 customers across 25 countries. The solutions of both companies are sector-agnostic with customers spanning education, agriculture, healthcare, manufacturing and distribution, and non-profit and government, among other industries. Notable customers of the combined group include Subaru Research and Development, iHeart Radio, the Atlanta Hawks, Alarm.com, and Delta Airlines.

By unifying procurement and payables into a seamless platform, the combined business enables finance leaders to drive efficiency, transparency, and accountability.

– Daan Visscher, Investment Director & Co-head North America

Daan Visscher, Investment Director & Co-head North America said, “We are pleased to announce this investment in Fraxion and follow-on acquisition of Centreviews. By unifying procurement and payables into a seamless platform, the combined business enables finance leaders to drive efficiency, transparency, and accountability—key pillars of both operational excellence and ESG stewardship. We are proud to back solutions that both deliver measurable operational efficiency and align with the evolving needs of finance teams across the mid-market. These acquisitions mark the foundation of a broader buy-and-build strategy to create an intelligent spend automation platform, unlocking long-term value for our customers.”

Stanton Jandrell, CEO of Fraxion, said, “We are thrilled to partner with Main Capital Partners and join forces with Centreviews, and we see ample opportunity to capture upon a shared vision to create a strong end-to-end solution from requisition to payment through these next stages of growth.”

Joe Meyer, CEO at Centreviews, concluded, “Our team is excited about the new chapter we’re embarking on alongside the Main and Fraxion folks. I have no doubt that we’ll achieve great outcomes for our customers over these coming years as well as we continue to maintain and improve upon our product offering.”

About Fraxion

Founded in 1997 and headquartered in Seattle, WA, Fraxion is a provider of cloud-based spend management and procurement software for mid-market organizations. Fraxion’s platform empowers finance and operations teams to control, automate, and gain visibility into purchasing workflows, ensuring compliance with internal policies and enabling cost-effective decision-making across organizations.

About Centreviews

Founded in 1998 and headquartered in Two Harbors, Minnesota, Centreviews is a provider of accounts receivable and accounts payable automation and document management solutions designed to streamline back-office workflows for mid-sized and enterprise organizations. Centreviews’ software platform centralizes invoice processing, approvals, and payments, enabling finance teams to reduce manual tasks and processing costs, accelerate AP cycles, and ultimately improve visibility.

Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.

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Nearmap to Acquire itel, Creating a Comprehensive Property Intelligence Platform Bridging Insurance Underwriting and Claims

Thomabravo

Combination of complementary data and software solutions transforms property insurance from first notice of loss to settlement

SALT LAKE CITY, UT—Nearmap, a leading property intelligence provider, today announced it is acquiring itel, an independent provider of critical property claims solutions including building material pricing and repair-versus-replace analysis. This strategic move unites two highly complementary and trusted brands in the insurance ecosystem that carriers rely on as the source of truth and certainty. Both companies have a shared passion and proven history of creating a more seamless experience for customers. Together, itel and Nearmap will provide customers and partners with a single, independent source of underwriting and claims insights across property portfolios, delivering value through faster claims processing, smarter claims settlement decisions, proactive risk mitigation, and defensible outcomes. From imagery to insights to answers, the addition of itel underscores the Nearmap promise to be the comprehensive source of truth for property intelligence.

Andy Watt, Nearmap CEO, will serve as Chief Executive Officer for the combined company. itel CEO Brian Matthews will continue to lead itel through closing and will serve on the Board of Directors. The leadership team will consist of individuals from both companies. Thoma Bravo, a leading software investment firm, will be the lead strategic investor in the combined company.

“This acquisition is transformative for property insurance,” said Andy Watt, CEO of Nearmap. “We have long admired the itel brand and by bringing our two companies together, we are combining the best of property intelligence and ground-truth data to create a true end-to-end solution that meets the most critical data needs across insurance claims and underwriting.”

“itel has always been about speed, accuracy, and independence in property claims – the ‘Source for Certainty’,” said Brian Matthews, CEO of itel. “Now, with instant access to property intelligence from Nearmap, we can help customers respond to claims more intelligently and ensure fast, fair, and frictionless outcomes. It’s a win-win for insurers, adjusters, contractors, and homeowners alike.”

“Two and a half years ago we made a great decision to partner with Andy Watt and the Nearmap team. We’re thrilled to support Nearmap in this transformative acquisition,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “Nearmap and itel have both invested in building industry-leading solutions. The combination creates an exciting and truly unique proposition for the insurance end-market, with a world-class team and global scale.”

“We’re excited to be bringing together the complementary capabilities of Nearmap and itel,” said Peter Hernandez, a Senior Vice President at Thoma Bravo. “We believe the combined company is uniquely positioned to provide the most accurate and efficient insights across underwriting and claims workflows. We look forward to continuing to leverage our software expertise and operational capabilities to help drive further innovation and growth.”

Completion of the deal is expected in Q2 2025 and is subject to customary closing conditions. The financial terms of the deal were not disclosed. Goodwin Procter served as legal advisor to Nearmap and Thoma Bravo. Raymond James and Bank of America acted as financial advisors and Latham & Watkins acted as legal counsel to itel.

About Nearmap
Nearmap is the location intelligence provider customers rely on for consistent, reliable, high-resolution imagery, insights, and answers to create meaningful change in the world. The Betterview and ImpactResponse platforms by Nearmap are integrated technology solutions built for insurers applying proprietary AI and computer vision to high-resolution aerial imagery and geospatial data, generating highly accurate property intelligence. Insurance companies are empowered with on-demand insights throughout the policy lifecycle that increase quoting speed and accuracy, optimize underwriting efficiency, enhance property risk mitigation, and expedite claims. Nearmap is the only full stack provider of location intelligence—from camera, to capture, to processing, as utilized in the Betterview and ImpactResponse platforms. For more information, please visit www.nearmap.com.

About itel
itel is a data and technology company that is a source for certainty in the property insurance claims process. itel serves as an independent intermediary to insurers, adjusters, contractors and homeowners, providing objective data and expert analysis that optimize the claims process. With itel, claims are settled accurately, fairly and with greater efficiency. For more information, please visit www.itelinc.com.

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Read the release on PR Newswire here.

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Finastra to Sell Treasury and Capital Markets Division to Apax Funds

Apax

Finastra, a global provider of financial software applications, and funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm, today announced that they have entered into an agreement under which Finastra intends to sell its Treasury and Capital Markets (“TCM”) business unit to an affiliate of Apax. Upon completion of the transaction, TCM will be rebranded and operated as a standalone business.

With a client base of over 340 financial institutions, TCM is a trusted enabler of risk management, regulatory compliance, and capital markets operations. Its suite of software products – most notably Kondor, Summit, and Opics – supports front-to-back trade lifecycle management, risk, compliance, and operations. Built on decades of intellectual property and long-standing client relationships, TCM is deeply embedded in the global banking ecosystem.

The sale of TCM will streamline Finastra’s portfolio and generate capital for reinvestment to enhance the company’s position as one of the world’s leading software providers to financial services companies. Finastra remains focused on serving its diversified and established customer base in over 135 countries, offering deep domain expertise and best-in-class technology to many of the world’s leading financial institutions and corporations.

“This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software,” said Chris Walters, CEO at Finastra. “It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward.”

As an independent company working in partnership with the Apax Funds, TCM will be able to invest further in new product development, marketing and technology infrastructure to meet its customers’ evolving needs. The Apax Funds will support TCM in sharpening strategic and operational focus, enhancing customer experience and accelerating technological advancements, including strengthening the company’s cloud offering.

“TCM is a robust, mission-critical platform with leading functionality and an impressive customer base,” said Jason Wright, Partner at Apax. “We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies.”

Gabriele Cipparrone, Partner at Apax, said: “We’re excited to partner with the TCM team as the business begins a new chapter as an independent organisation. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”

Funds advised by Apax have a long history of investing across the application software industry. Notable investments include Paycor HCM, Zellis Group, ECi Software, OCS / Finwave, Azentio, EcoOnline and IBS Software. The Apax Funds also have extensive experience in supporting corporate carveouts in the software space.

The transaction is expected to close in the first half of 2026, subject to customary closing conditions and the completion of information and consultation processes with employee representative bodies, where required. Further terms of the transaction were not disclosed.

Evercore served as lead financial advisor to Finastra and Vista Equity Partners and Kirkland & Ellis served as legal advisor. Perella Weinberg Partners also served as a financial advisor to Finastra. Deutsche Bank served as financial advisor to Apax and Simpson Thacher & Bartlett served as legal advisor.

 

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Main Capital backed TMA acquires US based Decisionwise

Main Capital Partners

TMA’s acquisition of DecisionWise enhances talent management solutions, expands cross-Atlantic reach, and strengthens growth, serving 450 clients in 75 countries.

The Hague, May 15th 2025 – TMA announces its acquisition of DecisionWise, a US-based provider of cloud-based employee feedback and engagement solutions. The combination between TMA and DecisionWise creates a cross-Atlantic player within the talent management and engagement market. This investment marks TMA’s first acquisition since the partnership with Main Capital Partners in December 2024.

Founded in 1996 and headquartered in Springville, Utah, DecisionWise is a provider of employee experience surveys, employee engagement and a 360-degree feedback platform. The company serves approximately 450 clients across 70+ countries with 20% software growth. The solutions are sector agnostic and used by customers active across education, government, manufacturing, and healthcare, among other industries. Customers include Dropbox, City of Seattle, Avocados from Mexico, Standford University, ChildFund, American Automobile Association, and Fidelity International.

TMA is a provider of talent management solutions in the HR software space. TMA’s integrated talent management platform enables customers to manage human capital through assessments and other employee development solutions across the pre- and post-hiring phase. By combining strong industry expertise, market knowledge, and the latest IT developments, TMA has developed the scientifically based ‘TMA Method.’

The solutions provided by TMA & DecisionWise are complementary. The combination offers customers tools to manage and retain talent by identifying and tracking performance, engagement, and overall satisfaction. TMA’s strategy is to offer customers all tools to optimally position employees for long-term success. Talent management is one piece of this puzzle and employee experience is another key piece. Customers worldwide rely on both TMA and DecisionWise software solutions. Together, the combined solutions are used in 75 countries and continue to experience strong annual software growth of over 20%.

TMA maintains a global customer base but will be able to better serve North America and specifically United States-based customers.

– Charly Zwemstra, Managing Partner & CEO at Main

Charly Zwemstra, Managing Partner & CEO at Main, “We are very pleased to announce this major strategic step for TMA in becoming a global talent management player. Talent management remains a top priority for employers who face daily talent-related challenges. Talent retention post-identification is also crucial for organizations, and Employee Experience plays an important role in achieving this objective. This combination allows TMA to not only expand its product offering, but also its geographical coverage. TMA maintains a global customer base but will be able to better serve North America and specifically United States-based customers while also providing a more extensive product offering to customers based in Europe and across the rest of the world.”

Bastian Müller, CEO of TMA, said, “We are thrilled to join forces with DecisionWise, and we see an excellent cultural and product fit that we’re excited to continue developing through the next stages of our growth. We fundamentally believe that happy employees create and drive performing organizations. In order to track employee happiness, employee experience is key and DecisionWise’s software perfectly serves those needs.”

Matthew Wride, CEO at DecisionWise, concluded, “We are looking forward to this new chapter for DecisionWise. We are very excited about the strong fit between TMA and DecisionWise and we expect to better serve our customers’ needs across the areas of talent management, employee experience management, and people analytics.

About TMA

TMA is a Dutch provider of talent management software founded in 1999. The company started as a profiling theory within Human Resource Management, which they developed into an innovative software solution. The company serves more than 600 customers globally and continues its growth towards becoming one of the leading providers of cloud-based talent management solutions.

About DecisionWise

DecisionWise is an American provider of Employee Experience (EX) solutions to businesses worldwide. Founded in 1996 and headquartered in Springville, Utah, DecisionWise is a provider of employee experience surveys, employee engagement solutions, and a 360-degree feedback platform. The company serves over 450 clients across +70 countries.

Nothing contained in this Press Release is intended to project, predict, gu

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Coupa Acquires Cirtuo, Leader in AI-Powered Category Management

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Cirtuo’s technology will unlock the full potential of AI-powered category management and sourcing, accelerating Coupa’s autonomous spend management vision and roadmap

FOSTER CITY, Calif.—Coupa, the leader in AI-native total spend management, today announced it has acquired Croatia-based Cirtuo, an industry leader in AI-powered category management. This strategic investment accelerates Coupa’s autonomous spend management vision and underscores Coupa’s commitment to developing AI-powered solutions that improve productivity, agility, and resilience while delivering margin impact.

Category managers are under mounting pressure to align procurement strategies and initiatives with enterprise priorities such as sustainability, risk mitigation, and innovation. Recognizing the widening gap between strategic planning and tactical buying, organizations are turning to AI-enabled solutions to bridge productivity and efficiency gaps.

By integrating Cirtuo’s AI-enabled category management capabilities with Coupa’s leading Total Spend Management platform, Coupa is set to deliver a comprehensive solution that seamlessly translates robust, data-driven strategies into sourcing pipelines, supplier actions, and savings realization. This includes supporting the full supplier strategy lifecycle, from strategy planning, to execution, to monitoring, all within a unified system. These new capabilities will help procurement stakeholders not only drive cost reduction and cost avoidance, but extend to deliver a deeper understanding of business needs.

“Transforming the end-to-end procurement process requires reimagining technology’s role. We’re investing heavily in GenAI to automate routine tasks, enhance strategic decision-making, and bring autonomous procurement to market,” said Salvatore Lombardo, Coupa Chief Product and Technology Officer. “With the acquisition of Cirtuo, we strengthen our AI-native solutions and fill a critical gap in Coupa’s Strategic Sourcing Suite. This allows us to deliver a comprehensive category management solution where customers can create margin impact, especially in direct spend categories, by integrating analysis, strategy, and execution in one place.”

“Cirtuo empowers procurement teams to build AI-guided, insight-driven strategies that align with business priorities and flow directly into tactical activities resulting in seamless, closed-loop procurement processes,” said Drasko Jelavic, Cirtuo CEO. “We’re excited to join Coupa as businesses embrace digital transformation in the AI era.”

Making Category Strategies Actionable
Cirtuo’s market leading category management solution continues to be recognized for its pioneering technology by procurement practitioners, technology experts, and customers. Key solutions include:

  • Guided Category Strategy: Guides users with an interview-style approach to craft holistic category strategies without robust training enabling in-depth spend analysis and actionable insights for data-driven category management.
  • Guided Supplier Strategy: Leverage supplier relationships by connecting the dots between category and supplier strategies. Develop strategies that align seamlessly with business requirements and extend the focus on relationship metrics.
  • Initiative Management & Value Tracking: Manage your strategic savings, supplier, and risk mitigation initiatives end-to-end with clearly defined tasks, owners, milestones, and timelines to easily demonstrate impact on savings and value tracking.

As a leader in AI-powered category management, Cirtuo has helped some of the world’s biggest and best global brands create real business impact, including Ball Corporation, Braun, Molson Coors, Johnson & Johnson, Novartis, Utz Brands, Walmart, and more. Customers are saying:

  • “Cirtuo greatly enhances the category strategies that we’re developing. Cirtuo follows best practices and helps us to be more strategic and get us out of the tactical execution that we are stuck in. It’s easy to use. It’s a no-brainer.” – Michael DeWitt, VP of Indirect Spend Management & Center of Excellence, Walmart
  • “The digitization of category management is a required and necessary journey. Through Cirtuo Guided Strategy Creation, integrated market intelligence and AI, Cirtuo makes it faster and easier.” – Stephane Morel, Procurement Director, ex-Novartis
  • “By providing proof-of-impact to BT and capturing the pay-for-performance element of BT Sourced’s total compensation, Cirtuo enables our procurement team to develop high-quality category strategies that generate savings and present new opportunities.” – Cyril Pourrat, Chief Procurement Officer, BT Sourced

Attendees at Coupa’s flagship annual event, Inspire, will have a chance to learn more about the power of combining Coupa and Cirtuo from Cirtuo’s CEO Drasko Jelavic at a dedicated breakout session and in the Expo Hall. Learn more about cirtuo.com and coupa.com.

Learn more about how you can master spend and cost management without sacrificing growth.

Kaizen Equity Partners served as financial advisor to Cirtuo. Kirkland & Ellis and Wolf Theiss served as legal counsel to Coupa.

About Coupa
Coupa is the leader in AI-native total spend management. Using its trusted, community-generated, $8 trillion dataset, Coupa brings autonomous AI agents, a network of 10M+ buyers and suppliers, and leading apps together on one unified platform to seamlessly automate the buying process and connect to customers in a whole new way. With Coupa, you’ll make margins multiply™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).

About Cirtuo
Cirtuo is the pioneer in digital category management and strategy creation. Based on the original consulting blueprint for category management and refined in countless client workshops, Cirtuo distills the insights from hundreds of category strategies across global and local procurement organizations and spend categories into one digital consultant: Cirtuo Guided Strategy Creation™ Pro. Cirtuo supports over 5,000 category managers of leading national and multinational companies like Siemens Energy, Boeing, Walmart, Novartis, Molson Coors, or British Telecom across industries and 40+ countries in creating business-centric and actionable category and supplier strategies that deliver unparalleled impact and value.

Read the release on the Coupa website here.

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