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OSLO, Norway and SAN FRANCISCO, Aug. 16, 2022Thoma Bravo, a leading software investment firm, and Mercell Holding ASA ("Mercell") today announced the completion of Thoma Bravo's acquisition of Mercell, a European provider of e-tendering and procurement systems.

Mercell, founded in 1999 and headquartered in Oslo, Norway, is the European market's leading e-tendering software for public buyers and tender notification software for public sector suppliers. Mercell's solutions help buyers and organizations cut costs, grow their businesses and boost efficiency. Its cloud-based platforms are responsive and accessible from anywhere, giving customers insights and transparency.

The acquisition was first announced on May 25, 2022 and was completed on August 16, 2022. The acquisition was carried out through a voluntary cash offer by Spring Bidco (Norway) AS, a company indirectly wholly owned by funds advised or managed by Thoma Bravo, for all shares in Mercell at an offer price of NOK 6.30 per share and a subsequent compulsory acquisition of the remaining shares in Mercell, as previously announced. The voluntary cash offer was completed on August 8, 2022 and the compulsory acquisition was completed today, with settlement to the former minority shareholders of Mercell taking place at the latest on August 17, 2022. The shares of Mercell have, from August 12, 2022, been suspended from trading on Oslo Børs and the shares will be delisted from Oslo Børs as soon as practically possible.

"I am thrilled to partner with Thoma Bravo and leverage their deep operational and investment expertise to achieve our global growth goals," said Terje Wibe, CEO of Mercell Holding ASA. "I am proud of the entire Mercell team for helping us reach this milestone, and I look forward to further success as we build upon our market leadership position and continue to deliver customers best-in-class e-tendering and procurement systems."

"Mercell's SaaS network of buyers and suppliers for public tendering is extremely valuable and, as a private company alongside Thoma Bravo, Mercell is well positioned to enhance its product offering and global growth," said George Jaber, a Senior Vice President at Thoma Bravo. "Our team is excited to partner with Mercell to help the company achieve its full potential and set Mercell up for sustained long-term growth."

"The European SaaS market is experiencing extraordinary growth and our partnership with Mercell allows us to expand our presence in this important global market. Thoma Bravo's partnership-driven approach will benefit Mercell greatly through investments in product development and strategic acquisitions," said A.J. Rohde, a Senior Partner at Thoma Bravo.

Advisors

Skandinaviska Enskilda Banken AB (publ), Oslo Branch, acted as financial advisor to Thoma Bravo. Advokatfirmaet Schjødt AS and Kirkland & Ellis LLP acted as legal advisors to Thoma Bravo. ABG Sundal Collier ASA and JP Morgan acted as financial advisors and Advokatfirmaet Thommessen AS acted as legal advisor to Mercell.

About Thoma Bravo

Thoma Bravo is one of the largest private equity firms in the world, with more than $114 billion in assets under management as of March 31, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit www.thomabravo.com.

About Mercell Holding

Mercell delivers services to public and private buyers and our goal is to become the leading software-as-a-service (SaaS)-platform for e-tendering and procurement in Europe. Mercell is already a leading platform for public e-tendering and entered the procurement market in 2020, and services approximately 30,000 customers across 15 European markets and in the US. Mercell's unique marketplace simplifies the tender and procurement process and makes it safe and easy for buyers to find relevant suppliers for their tenders and daily purchasing needs. We also ensure suppliers find relevant business opportunities and offer tools for suppliers to digitally receive and handle purchases from public and private buyers.

Read the release on the PR Newswire website here.