American private equity firm Thoma Bravo LLC is exploring a sale of two of its portfolio companies, Hyland Software Inc. and LANDesk Software Inc. The two software companies could collectively be worth over USD2 billion.
According to Reuters, Thoma Bravo is working with Goldman Sachs Group Inc. to explore a sale of Hyland. It could be worth more than USD1.2 billion based on annual earnings before interest, tax, depreciation and amortization (EBITDA) of around USD80 million.
Separately, the investment firm is looking to sell LANDesk that also has EBITDA of around USD80 million. It could fetch up to 10 times that amount, the report said.
Reuters said that Hyland provides enterprise content management software to corporate clients. Thoma Bravo acquired a 58% stake in the company for USD265 million in 2007.
Meanwhile, LANDesk develops systems to integrate control over corporate computers and mobile devices. It competes with Symantec Corp., BMC Software Inc. and Microsoft Corp., the report said.
Thoma Bravo has over USD4 billion in assets under management. It generated big profits from selling companies. Earlier this week, it closed a USD1.6 billion deal to sell mobile banking company Digital Insight Inc. to NCR Corp., Reuters said.
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