Press Release

Teachers' Private Capital to Acquire Majority Stake in Flexera Software

Transaction supports the next stage of company's growth

Schaumburg, IL - Jul 19, 2011 - Flexera Software, the leading provider of strategic Application Usage Management solutions for application producers and their enterprise customers, today announced that Teachers' Private Capital, the private investment department of the Ontario Teachers' Pension Plan, has agreed to acquire a majority stake in Flexera Software from Thoma Bravo, LLC, a private equity firm. Terms of the transaction were not disclosed.

The Chicago-based company develops comprehensive solutions-from software licensing, installation, entitlement management and delivery to software deployment and license compliance and optimization-that play an increasingly strategic role in managing application usage at Global 2000 companies. Flexera Software's growth has been fueled by its ability to take advantage of emerging market opportunities such as intelligent device manufacturers' increasing reliance on software as part of their business models, the need for enterprises to ensure continuous compliance for software licenses, and migration trends to the Cloud and virtualization. The company has achieved significant growth in revenues and EBITDA over the past three years.

"The Flexera Software team has done an exceptional job of growing the business, defining a strategic vision and executing to become the market leader," said Jane Rowe, Senior Vice-President, Teachers' Private Capital. "The company has established a strong position in an attractive market segment and Teachers' is committed to supporting Flexera Software's continued innovation and strategic vision as it moves to the next stage of its growth."

"Over the past few years, Flexera Software has created tremendous value for our customers and shareholders," said Mark Bishof, President and Chief Executive Officer of Flexera Software. "The investment by both Teachers' Private Capital and Thoma Bravo validates our past success and the future potential of our company. Having world-class investors coupled with one of the best teams in the industry enables us to focus on driving revenue and exceeding our customers' expectations."

"Thoma Bravo has had a tremendously successful partnership with Flexera Software since we acquired the company three years ago," said Seth Boro, Partner at Thoma Bravo, which is retaining a minority interest in the company. "We believe the company is poised to realize the next stage in its growth and market leadership, and we are excited to be an ongoing partner in making that happen."

Upon completion of the acquisition, which is scheduled to close in late September 2011, Flexera Software will continue to:

  • Serve software vendors, intelligent device manufacturers and enterprises that increasingly rely on software applications
  • Provide its customers integrated solutions that automate essential business processes related to the software lifecycle
  • Enable its customers to take advantage of the latest shifts in technology - from virtualization to SaaS and the Cloud - while adopting new business models and strategically managing application usage
  • Continue to work with its partners to provide value-added solutions to customers
  • Be led by the same executive management team who will continue to focus on customer success.

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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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