Acquired Business Unit Becomes Standalone Company Named Acresso Software
San Francisco - Apr 1, 2008 - Thoma Bravo, a leading private equity investment firm, has completed the acquisition of Macrovision Corporation's (NASDAQ:MVSN) Software Business Unit. The acquisition results in the formation of a standalone company named Acresso Software.
Acresso Software provides solutions that help simplify the business relationship between software producers and enterprises. Acresso Software’s product line includes the FlexNet® and InstallShield® family of products that were previously offered by Macrovision Corporation. These software products enable independent software vendors (ISV’s) to manage entitlements, software licensing, compliance, installation, and electronic software delivery. Acresso Software also delivers the Adminstudio® product line that provides asset management, license usage, and mass deployment tools to IT departments at enterprise organizations.
"Acresso Software is being launched today on the foundation of two strong product franchises in InstallShield and FlexNet software with 60,000 installed customers, deployed on 500 million desktops around the world." said Mark Bishof, CEO of Acresso Software. "We have a world-class investment partner in Thoma Bravo, an experienced, energized management team, and employees dedicated to building a world-class software business singularly focused on making our customers successful. We are open for business and extremely excited about the future of Acresso Software."
“Thoma Bravo looks forward to further strengthening the market leadership of Acresso Software, a company with 20 years of experience in delivering successful software solutions,” said Orlando Bravo, managing partner at Thoma Bravo. “By leveraging the market leadership of Acresso Software’s existing product lines, Thoma Bravo will work with the company’s highly experienced management team to grow Acresso Software and deliver increased value for its customers,” added Seth Boro, principal at Thoma Bravo.
Acresso Software’s management team draws on the strengths and expertise of dedicated, seasoned software industry experts. The management team of Acresso Software is:
- - Mark Bishof, President and CEO
- - Jim Ryan, SVP Global Sales
- - Bob Doyle, SVP Engineering
- - David Rowley, SVP Business Development
- - Richard Northing, SVP Global Services
Summary of the Transaction
In February 2008, Thoma Bravo entered into a definitive agreement with Macrovision Corporation to acquire its Software Business Unit in a cash transaction valued at approximately $200 million. The divestiture of Macrovision Corporation’s software business unit closes today and results in the formation of standalone company Acresso Software.
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