Press Release

Flexera Software Awarded Illinois Venture Capital Association’s 2012 Private Equity Portfolio Company of the Year

Schaumburg, IL - Jan 23, 2013 - Flexera Software, the leading provider of application usage management solutions for application producers and enterprises, is pleased to announce that it has been awarded the Illinois Venture Capital Association's (IVCA) 2012 Private Equity Portfolio Company of the Year. The award is presented to an Illinois-based company backed by a private equity firm that has had an "exit" or liquidity event and provided outstanding returns to the investors. Private equity investment firm Thoma Bravo, LLC sold a majority stake in the company in July, 2011.

"Flexera Software was chosen for the award by a panel of 54 investment professionals, including IVCA's board of directors, based on its outstanding performance and the tremendous value it created for Thoma Bravo," said Maura O'Hara, Executive Director at IVCA. "It has emerged as a strong business leader and employer in Illinois and serves as model of growth and success for other entrepreneurial companies."

Thoma Bravo purchased Flexera Software from Macrovision for $200 million in 2008. Thoma Bravo implemented its buy and build strategy and worked with the existing management team to increase Flexera Software's business infrastructure. Flexera Software is now a market leader in each of its four business lines: Licensing & Entitlement Management, Software License Optimization, Application Readiness, and Installation.

In July, 2011, Thoma Bravo sold its majority stake in the company to Ontario Teachers' Pension Plan netting Thoma Bravo 4.6 times its capital, which translated to a 65 percent internal rate of return for the firm. Thoma Bravo retained a significant minority stake in the company, a signal of confidence that Flexera Software would continue its stellar performance.

"Thoma Bravo has enjoyed working with the experienced and diligent management team at Flexera Software to build the company's business and we look forward to the company's continued growth," said Seth Boro, partner at Thoma Bravo. "This award demonstrates the successful execution of Thoma Bravo's buy and build investment strategy, which now has been successfully applied in more than 25 software company investments."

During its ownership by Thoma Bravo, Flexera Software completed four add-on acquisitions. In early 2009 it bought Intraware Inc., which gave the company a cloud-based entitlement management system, and later that year added Honico Software GmbH and a Software License Optimization solution for SAP applications. In May 2010 it purchased ManageSoft, which also provides enterprise software management. It also bought technology from LinkRight Software LLC soon after its buyout by Thoma Bravo in 2008. By 2010, Flexera Software had grown its revenue by 40 percent and EBITDA by 70 percent over the course of Thoma Bravo's ownership.

"We are proud to receive this award from IVCA, as it is a testament to the leadership position we've established in Application Usage Management," said Mark Bishof, President and CEO of Flexera Software. "With the encouragement and support of Thoma Bravo, we've made some bold decisions, such as moving our headquarters from Silicon Valley to Chicago, and have enjoyed tremendous success, including another year of tremendous growth in 2012. We were recently named one of the top Illinois workplaces, and with 550 employees, we've added more than 200 jobs to the economy, forging a creative and challenging environment for high performers to flourish in their careers."

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About Flexera
Flexera is reimagining the way software is bought, sold, managed and secured. We view the software industry as a supply chain, and make the business of buying and selling software more transparent, secure, and effective. Our Monetization and Security solutions help software sellers transform their business models, grow recurring revenues and minimize open source risk. Our Vulnerability and Software Asset Management (SAM) solutions strip waste and unpredictability out of buying applications, helping companies purchase only the software and cloud services they need, manage what they have, and reduce license compliance and security risk. In business for 30+ years, our 1000+ employees are passionate about helping our 80,000+ customers generate millions in ROI every year. Visit us at www.flexera.com.

For more information, contact:

Flexera
John Lipsey
(224) 465-9139
jlipsey@flexera.com

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