Thoma Bravo has confirmed its strategic growth investment in BlueMatrix, a leading platform for investment research providers, through a definitive agreement. The finalization of this transaction hinges on regulatory approvals and standard closing conditions.
Upon the completion of the transaction, Patricia Horotan, Founder and CEO of BlueMatrix, will continue to lead the company and retain a significant ownership stake. The expected closing date for the transaction is early January 2024. Golub Capital is set to provide debt financing for the transaction, with Thoma Bravo receiving legal counsel from Kirkland & Ellis LLP and financial advice from Raymond James. BlueMatrix is being advised by Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo P.C. as legal counsel and Stifel as financial advisor, according to a press release by Thoma Bravo.
Horotan said in a press release by Thoma Bravo: "We've grown BlueMatrix into the global market leader in end-to-end investment research and publishing solutions, with customers across 70 countries, and are excited to accelerate our strong momentum with capital, operational and strategic support from Thoma Bravo." She further added that "Thoma Bravo's investment is a testament to what we've built and will enable us to drive continued innovation to better serve our customers as we enter this new phase of growth."
Chandler Gay, a Vice President at Thoma Bravo said in another press release by Thoma Bravo: "As the gold standard provider of end-to-end investment research and publishing software, BlueMatrix has reimagined the investment research workflow, driving unmatched results for its global portfolio of customers." He expressed his anticipation towards leveraging Thoma Bravo's deep sector expertise to help drive continued growth and innovation.
According to information provided on its About webpage, BlueMatrix serves as an important technology ecosystem within the investment research domain. It facilitates connections between major asset managers and wealth managers along with nearly 1,000 research firms across more than 50 countries. Furthermore, it provides its services to internal teams within multinational corporations.