Latest news with #MilanaVinn
Yahoo
3 days ago
- Business
- Yahoo
Exclusive-Thoma Bravo explores $3 billion-plus sale of software firm Apryse, sources say
By Milana Vinn (Reuters) -Buyout firm Thoma Bravo is exploring a $3 billion-plus sale of Apryse, after receiving interest from potential buyers of the document processing software provider, people familiar with the matter said on Thursday. Thoma Bravo is working with investment bankers at Lazard on the sale process, said the sources, noting interest had already come from other private equity firms. As part of any deal, Thoma Bravo may decide to retain a minority stake in Apryse, the sources said. They also cautioned that no sale was guaranteed and spoke on condition of anonymity to discuss confidential deliberations. Thoma Bravo declined to comment, while Apryse and Lazard did not respond to Reuters' requests for comment. Denver, Colorado-based Apryse provides document processing technology for developers of mobile and computer applications, allowing them to create, edit, and convert digital documents, as well as integrate such capabilities into their own applications. Its customers include Novartis, Wells Fargo and DocuSign, according to its website. Apryse generates more than $100 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) and is growing more than 20 percent annually, the sources said. Any deal is expected to value the company at 30x its EBITDA or higher, the sources added. PDFTron, the previous name of Apryse, was founded in 1998 as a document processing technology platform. It was acquired by Thoma Bravo in 2021, with the investment led by the co-head of Thoma's Discover platform, Hudson Smith. The company was renamed as Apryse two years later. Silversmith Capital Partners and the company's management team have remained minority shareholders in the business. Apryse has completed nine add-on acquisitions to expand its functionality and global reach since Thoma Bravo acquired the company. These include Netherlands-based digital document processor TallComponents, which was announced earlier this week, and AI-powered software maker Lead Technologies, completed last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 days ago
- Business
- Business Insider
Netskope taps Morgan Stanley for U.S. IPO, Reuters reports
Cybersecurity firm Netskope has hired Morgan Stanley (MS) to lead preparations for a U.S. initial public offering, according to a Reuters report by Echo Wang and Milana Vinn. Netskope is aiming to go public as early as the third quarter of this year, potentially raising over $500M with a valuation that could exceed $5B, sources indicated, though these plans are subject to market conditions. Founded in 2012, Netskope provides cloud-based security software, competes with firms like Rubrik (RBRK) and Zscaler (ZS), and was valued at $7.5B in 2021. CEO Sanjay Beri previously told Reuters in June 2024 that an IPO would help grow brand awareness for the company. Confident Investing Starts Here:
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-Cybersecurity provider Netskope taps Morgan Stanley for US IPO, sources say
By Echo Wang and Milana Vinn NEW YORK (Reuters) -Cybersecurity firm Netskope has hired Morgan Stanley to lead preparations for a U.S. initial public offering that could raise more than $500 million, according to people familiar with the matter. Netskope is aiming to go public as early as the third quarter of this year, two of the sources said, with one of them and two further sources indicating the IPO could value the company at more than $5 billion. All the sources cautioned that factors including timing, valuation, and the amount the offering would raise are subject to market conditions. They also spoke on condition of anonymity to discuss confidential deliberations. Netskope did not respond to a comment request. Morgan Stanley declined to comment. Founded in 2012, Netskope provides cloud-based security software that helps companies protect apps, websites, and data from cyber threats. It competes with companies such as Rubrik Inc and Zscaler Inc. Santa Clara, California-based Netskope has been backed by investors including Morgan Stanley Tactical Value, CPP Investments, Goldman Sachs Asset Management, and the Ontario Teachers' Pension Plan. It was valued at $7.5 billion in 2021, although valuations of technology startups have broadly dropped since then. Among Netskope's clients include retailer Ross Stores Inc and Yamaha, according to its website. Chief Executive Sanjay Beri told Reuters in June 2024 that the company had been making internal preparations for an IPO, and going public would help grow awareness of its brand. Expectations for a strong rebound in U.S. IPO activity this year have been tempered by geopolitical tensions and economic uncertainty, including tariff-related concerns. Still, signs of market stabilization in recent weeks have offered companies and their advisers encouragement of a more robust IPO pipeline for the remainder of the year. Fintech firm Chime and trading platform eToro, which had postponed their IPOs amid market volatility triggered by new tariffs in April, have since moved forward with their listing plans. Meanwhile, shares of cybersecurity peer Rubrik have surged nearly 200% since their debut in April, boosting investor interest in the sector. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Hellman & Friedman launches sale process for US software maker Enverus, sources say
By Milana Vinn Private equity firm Hellman & Friedman has launched a sale process for Texas-based energy software maker Enverus in a deal that could value the company at around $6 billion, according to people familiar with the matter. The private equity firm is working with investment bankers at Citi on the potential sale, which has attracted interest from both private equity firms and other companies, said the people, who asked not to be named because the discussions are private. The sale process is in its early stages and multiple options are on the table, including selling a stake in Enverus, the people said, cautioning that no deal is guaranteed. Private equity firm Genstar Capital, which sold Enverus to Hellman & Friedman in 2021 for $4.25 billion, still has a minority stake in the tech company. Citi and Genstar declined to comment, while representatives for Hellman & Friedman and Enverus did not respond to Reuters' requests for comment. Austin, Texas-based Enverus provides data, analytics, and software solutions to oil and gas companies. Enverus generates around $400 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA) and is likely to be valued at close to 15 times its EBITDA, or $6 billion, the sources said. Bloomberg reported in 2024 that private equity owners of Enverus were preparing to explore a sale or IPO of the company. Private equity firms are under increasing pressure from investors to sell or IPO portfolio companies to return capital after a year of little activity. Last week, Reuters reported that Blackstone is exploring a $3 billion sale of Sphera, a sustainability software and consulting services provider. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Business
- Yahoo
Blackstone explores $3 billion sale of sustainability software firm Sphera, sources say
By Milana Vinn NEW YORK (Reuters) -Blackstone is exploring a $3 billion sale of Sphera, a sustainability software and consulting services provider, according to three people familiar with the matter. The private equity firm has hired investment bankers at William Blair and Evercore to run the sale, which is in its early stages, said the people who requested anonymity speaking about confidential matters. Blackstone declined to comment. Evercore, William Blair, and Sphera did not immediately respond to Reuters' request for comments. Chicago, Illinois-based Sphera, provides risk management software as well as data and consulting services to corporations to help them stay compliant with environmental, health, safety and sustainability guidelines and other related matters. The company has served more than 8,400 customers globally across 95 countries, according to Sphera's website. Some of its global customers include Danone, Siemens, Mercedes-Benz, Wrangler, and others. Sphera generates over $300 million in annual revenue and more than $100 million in earnings before interest, taxes, depreciation, and amortization (EBITDA), the sources said. The company is expected to fetch close to $3 billion in a potential sale, the people added. Blackstone planned to shed twice as many portfolio holdings in 2025, compared to last year. However, dealmaking has cooled since the Trump administration sparked a global trade war in early April. Despite the slowdown in M&A, private equity firms are facing pressure to return capital to their limited partners (LPs), leading to process launches of private equity's most resilient assets. Sign in to access your portfolio
