Monday, June 28, 2021

QAD In $2 Billion Private Equity Acquisition

Santa Barbara-based supply chain software developer QAD has entered into a $2 billion acquisition deal with private equity investor Thoma Bravo, the company said on Monday. According to QAD, its shareholders will receive $87.50 per share in cash from Thoma Bravo, in an all-cash transaction. The take-private deal will result in QAD no longer trading on public markets. The company said that current CEO Anton Chilton will continue to lead the company, whcih will continue to maintain its headquarters in Santa Barbara. The firms said the move to become private will provide it with "flexibility to continue investing in the development and deployment of Enterprise Resource Planning (ERP) software and related enterprise software for manufacturing companies around the world."

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