by Joe Panettieri • Mar 1, 2019
Thoma Bravo’s acquisition of ConnectWise closed as planned on February 28, and executives from the private equity firm are expected to attend a celebration today at the IT management software company’s Tampa, Florida, headquarters, according to sources close to the deal.
ConnectWise Founder Arnie Bellini
ConnectWise CEO Jason Magee
Thoma Bravo Partner Robert Sayle
ConnectWise holds an internal companywide update the first Friday of every month. That “First Friday” tradition continues today, with executives from ConnectWise and Thoma Bravo expected to celebrate the company’s journey and rally the business forward.
Robert Sayle, a partner at Thoma Bravo, is expected to work closely with ConnectWise going forward, though ChannelE2E does not know if Sayle in particular will be on-hand for today’s First Friday gathering in Tampa.
ConnectWise: The Long-term Plan
ConnectWise on February 25 announced the company sale and CEO transition from Arnie Bellini to Jason Magee, formerly president and COO of the IT management and business automation software company.
Rumors about the deal first surfaced on ChannelE2E on February 4. Financial terms of the deal were not disclosed, but ChannelE2E estimates the value at roughly $1.5 billion, based on publicly available information and our previous coverage of IT Nation conference content.
ConnectWise developed a 2019 business strategy and five-year strategic plan ahead of the deal. Thoma Bravo embraced those plans as part of the company acquisition.
Our complete coverage of the deal includes:
- Thoma Bravo Acquires ConnectWise for Roughly $1.5 Billion, ChannelE2E Estimates
- ConnectWise Acquired – Jason Magee and Arnie Bellini Explain Why: An in-depth interview explaining the path to this deal, CEO transition, continued partner focus, and some staff changes.
- New ConnectWise CEO Jason Magee: 10 Things to Know
- ConnectWise Founder Arnie Bellini: What He Taught Us
- ConnectWise Employees Receive $270 Million From Company Sale
- New ConnectWise Owner Thoma Bravo: 10 Things to Know
Stay tuned for more updates.
Read the full story on ChannelE2E here.