Thoma Bravo is buying shipping software company Stamps.com for $6.6 billion. Among them is Vista Equity Partners, considered Thoma Bravo’s biggest competitor in the software private equity market. For many years, Vista Equity has run an internal public equity portfolio, where it builds toehold positions in publicly-traded software and technology companies it finds intriguing. Vista Equity will make about $54 million based on Thoma Bravo’s valuation of Stamps.com and its holdings worth about $134 million as of Thursday. Instead, Thoma Bravo will raise what likely will be billions in debt capital from Blackstone Credit, funds managed by Ares, Canadian pension fund PSP Investments, and its own credit operation, Thoma Bravo Credit.

Source: Forbes July 09, 2021 14:38 UTC