iOFFICE announces strategic growth investment from Thoma Bravo

iOFFICE announces strategic growth investment from Thoma Bravo

iOFFICE, the industry leader in software-as-a-service solutions for workplace experience and asset management, announced today its acquisition by Thoma Bravo , a leading private equity firm focused on the software and technology-driven services industry, from former owner Waud Capital Partners.

IOFFICE CEO Mark Peterson and the existing management team will continue to lead the company. The transaction closed today after regulatory approval; financial details were not disclosed.

Founded in 2002 and acquired by Waud Capital Partners in 2018, iOFFICE enables companies to manage their workplaces and optimize the performance of physical assets while improving human interactions with the built environment.

Also Check: Introducing the TOUGHBOOK S1 Developed to deliver all the features you want, and all the rugged you need

Its solutions portfolio combines employee experience with integrated workplace management system capabilities, as well as enterprise asset management and facility maintenance platforms. Designed with scalability in mind, iOFFICE’s native, cloud-based applications grow with customers as their needs change, delivering value every step of the way. iOFFICE serves some of the largest organizations in the world,

iOFFICE is uniquely positioned to capitalize on current macroeconomic trends, enabling customers to move to the cloud while providing a more engaging digital experience for employees who interact with business assets. The acquisition by Thoma Bravowill enable iOFFICE to accelerate product development and execution of this strategy.

According to independent research and consultancy firm Verdantix, space and workplace management represents the fastest growing segment of the smart buildings market and is expected to grow at a rate of 13% per year through 2025. iOFFICE is uniquely positioned to meet this demand as existing solutions struggle to scale and companies are first adopting tools to manage their increasingly dynamic workplace needs.

“Thoma Bravo has exceptional experience working with enterprises in the area of ​​enterprise software,” said Mark Peterson . “We are excited to work with their team to build on the momentum we have achieved with Waud Capital Partners to achieve our collective mission of empowering businesses around the world to create workplaces. responsive and frictionless. ”

Thoma Bravo’s senior partner, AJM Rohde, added: “The past 16 months have highlighted the need for businesses to have a complete suite of integrated solutions for smart buildings and workplaces.

We are convinced that we are entering a new world where the employee experience will be the cornerstone of how companies view their space management process. We have deep respect for the talented team at iOFFICE and are confident that the company’s best-in-class product suite will continue to drive its expansion. We are excited to partner with iOFFICE and apply our capital and growth expertise to help clients solve their problems faster. ”

Also Read: Scale-Up Europe – Tech Leaders Reveal New Strategy to Create Tech Giants in Europe

“We are very proud to have partnered with Mark Peterson and his team to drive transformational growth and create a market leader in iOFFICE,” said Matthew Clary , Partner at Waud Capital Partners. “Through organic growth and strategic acquisitions, Mark and his team quickly extended iOFFICE’s reach both horizontally and vertically, with remarkable results. iOFFICE is a leading and innovative company in a very dynamic market, and we know that it will continue to be successful with its great new partner, Thoma Bravo . Waud Capital Partners will hold a minority stake in the company in the future.

Waud Capital Partners was advised by Senior Financial Advisor Raymond James , and Co- Financial Advisor, Software Equity Group. Kirkland & Ellis LLP acted as legal counsel for Waud Capital Partners and Thoma Bravo .

Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.

Previous articleAktion Acquires Central Consulting Group, Adding Deltek Solutions and Industry-Focused Consultants to Enhance Portfolio for Architecture, Engineering, and Construction Markets
Next articleInnodisk launches DDR5 DRAM modules developed for the industrial sector