Thoma Bravo Acquires Aucerna from Rubicon Technology Partners

Thoma Bravo Makes Majority Strategic Investment in Azul

November 18, 2025

Cloud & SaaS

Azul, a Java-focused enterprise software company, entered into a definitive agreement to receive a majority strategic investment from Thoma Bravo. Existing investors Vitruvian Partners and Lead Edge Capital will reinvest and retain minority stakes alongside Azul employees.

Thoma Bravo Acquires Coupa Software

February 28, 2023

Cloud & SaaS

Thoma Bravo agreed to acquire Coupa Software in an all-cash transaction valued at approximately $8.0 billion. The deal also includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The acquisition was later completed, with Coupa stockholders receiving $81.00 per share in cash.

Thoma Bravo Acquires Calabrio from KKR

April 19, 2021

Software

Thoma Bravo, a leading private equity firm focused on software, has completed the acquisition of Calabrio, a cloud-first customer experience intelligence and workforce engagement management software company, from KKR. The deal will provide Calabrio with new capital and Thoma Bravo's operational expertise to accelerate the company’s cloud-first growth, organic product investment and targeted inorganic expansion.

Quorum Software (Thoma Bravo) Merges with Aucerna and Acquires TietoEVRY’s Oil & Gas Software Business

February 15, 2021

Energy

Thoma Bravo‑backed Quorum Software will merge with Aucerna and the newly combined company has acquired TietoEVRY’s Oil & Gas software business (including Energy Components and DaWinci). The transactions create a consolidated, cloud‑first global leader in energy software, expanding Quorum’s product portfolio and global footprint across upstream, midstream and downstream markets.

Thoma Bravo Acquires Majority Stake in Flexera

December 3, 2020

Software

Thoma Bravo has agreed to acquire a majority interest in Flexera, a Chicago-area software company that provides IT asset management and software monetization solutions. Existing investors TA Associates and the Ontario Teachers' Pension Plan will remain meaningful shareholders as Thoma Bravo partners with management to accelerate growth and expand Flexera's SaaS offerings such as Flexera One.

Thoma Bravo Acquires Majority Interest in Apttus

September 4, 2018

Software

Thoma Bravo signed a definitive agreement to acquire a majority interest in Apttus, a San Mateo–based provider of Quote-to-Cash, Contract Lifecycle Management and Middle Office software. The deal (expected to close in early October 2018) will pair Apttus’ enterprise revenue-management platform with Thoma Bravo’s software operating experience to accelerate growth and scale; financial and legal advisors and financing partners were disclosed but financial terms were not.