By Milana Vinn (Reuters) -Warburg Pincus has agreed to acquire a majority stake in Raptor Technologies from fellow investment firm Thoma Bravo, in a deal that values the school safety software provider at around $1.8 billion, according to people familiar with the matter. THE DETAILS * The deal could be announced imminently, the sources said,requesting […]
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Warburg Pincus to acquire Raptor Technologies for around $1.8 billion, sources say
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By Milana Vinn
(Reuters) -Warburg Pincus has agreed to acquire a majority stake in Raptor Technologies from fellow investment firm Thoma Bravo, in a deal that values the school safety software provider at around $1.8 billion, according to people familiar with the matter.
THE DETAILS
* The deal could be announced imminently, the sources said,requesting anonymity to discuss confidential information. * As part of the agreement, private equity firm JMI Equity,another existing investor in Raptor, will retain a significantminority stake in the company, the sources added. * Warburg Pincus and Thoma Bravo declined to comment. RaptorTechnologies and JMI Equity did not immediately respond torequests for comment.
THE COMPANY
* Houston-based Raptor Technologies provides a suite ofsafety software solutions for K-12 schools that include crisisprevention, preparation for emergency response and recovery, andsafe student movement management. * Raptor is used by 60,000 schools in 55 countries,according to its website. * The kind of technology that Raptor provides has becomemore sought-after in recent years as the number of school-basedsecurity incidents, including school shootings, continues torise. * Reuters reported in September that Thoma Bravo wasexploring a sale of Raptor Technologies.
(Reporting by Milana Vinn in New York; Editing by David French and Diane Craft)