ConnectWise, a managed IT services provider and software developer in Tampa, has agreed to be acquired by Thoma Bravo, a technology-focused private equity firm.
Financial terms were not disclosed, but the deal likely represents one of the largest sales to date of a locally owned privately-held firm.
Arnie Bellini
The deal spotlights Tampa Bay as the next technology haven, because of the significance and size of the transaction, said Arnie Bellini, ConnectWise co-founder and CEO. Not only is Thoma Bravo expected to invest in continued growth in ConnectWise, but the deal also has the potential to create a Silicon Valley type of impact in Tampa Bay, with employees who have cashed out their stock holdings using their new wealth to start their own technology companies.
The deal is expected to close Feb. 28. Bellini will transition into an advisory role. Jason Magee, currently president and chief operating officer, will become CEO. Magee, a 20-year veteran of the tech industry, joined ConnectWise in 2011. He was named COO in 2016 and added the job of president in January. read the rest here