Organizations are focusing investments on security and analytics, while actively researching emerging technologies such as machine learning and artificial intelligence, according to the 2018 CIO Tech Poll: Tech Priorities survey ...
Thomas H. Lee Partners, a private equity firm investing in middle market growth companies, has signed a definitive agreement under which funds affiliated with THL will acquire Alfresco Software.
Founded in 2005 and headquartered in San Mateo, California and Maidenhead, United Kingdom, Alfresco is an enterprise open-source software company focused on making business flow quickly, seamlessly, and intelligently, by driving the convergence of enterprise content management and business process management. Alfresco provides enterprise content management solutions that enable clients to retain, manage, and share documents, files, and processes across cloud, mobile, hybrid, and on-premise environments. The Company’s software powers the work of over 11 million people at industry-leading organizations in 195 countries worldwide.
Doug Dennerline, Alfresco’s CEO, said: “With THL’s deep industry experience, operational expertise, and strategic guidance, we will be well positioned to expand our platform, build on our space in the enterprise content management and business process automation markets, and continue providing customers with the best-in-class service they have come to know and expect.”
Laura Grattan, Managing Director at THL, said: “Alfresco is an innovative leader in content management and process automation solutions, operating in a large, underserved market. Their modern, cloud-native platform is the preferred technology for companies that are carrying out successful digital transformations, making this a highly attractive investment opportunity for THL. Alfresco has an outstanding reputation for enabling customers to collaborate more effectively, optimize business processes, and strengthen compliance, and we look forward to working closely with their talented team to help the Company execute its go-forward strategy and accelerate growth.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2018. Terms of the transaction were not disclosed.
RBC Capital Markets, LLC acted as financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal advisor to Alfresco. Kirkland & Ellis LLP acted as legal advisor to THL.