Thoma Bravo backs merger of public sector software firms

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The combined company aims to help government agencies in their data discovery and process management functions.

Private equity firm Thoma Bravo has backed a merger of two companies focused on data discovery and process management software.

Thoma Bravo’s investment will bring together Opexus and Casepoint, with Opexus CEO Howard Langsam leading the new company. Casepoint's co-founder and chief operating officer Vipul Rajpara will continue in a senior role.

Terms of the transaction announced Monday were not disclosed. The company will be called Opexus+Casepoint until a new brand name is developed.

The merger combines Opexus’ solutions around the Freedom of Information Act, audit, investigations, workforce management and procurement with Casepoint’s cloud-native data discovery tools.

Casepoint also brings with it a set of Defense Department security certifications at Impact Levels 5 and 6. Civilian agencies use Casepoint's software to manage data, as well as meet reporting and compliance obligations.

Thoma Bravo will be the majority owner, but Casepoint shareholders will retain a minority position as well Opexus’s existing investor Gemspring Capital.

“There is a growing need for high-quality data management in the public sector, with government agencies increasingly seeking to be as efficient, transparent, and accountable as possible,” Langsam said.

Kirkland & Ellis was the legal adviser to Thoma Bravo, whose financial adviser was Deutsche Bank Securities.

Cooley LLP was the legal adviser to Casepoint, whose financial adviser was Baird. McDermott Will & Emery LLP was legal adviser to Opexus. Comvest Credit Partners and HarbourVest Partners provided debt financing for this transaction.