Transaction partners leading cloud-enabled financial risk management and regulatory reporting firm with sponsor known for accelerating growth and driving innovation
SAN FRANCISCO and NEW YORK—Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sectors, today announced an agreement to acquire a controlling interest in AxiomSL, a leading provider of cloud-enabled risk management and regulatory solutions for banking, investment management, broker dealers and commodity trading institutions. The transaction is expected to close by the end of the year, subject to customary closing conditions. Financial terms were not disclosed.
Founded by CEO Alexander Tsigutkin and CTO Vladimir Etkin, AxiomSL serves the world's premier financial institutions through ControllerView®, its intelligent data management and analytics platform. AxiomSL's platform provides cloud-based, risk management and regulatory solutions, which include over 5,000 risk and regulatory reports across 55 jurisdictions and 110 regulators.
AxiomSL's suite of software solutions has kept pace with risk management and regulatory reporting changes, and the company's dedication to client success has allowed the company to consistently grow market share. Upon closing, Thoma Bravo plans to use its deep expertise in enterprise software, proven operational capabilities and prior experience in complex financial technology markets to partner with AxiomSL's management team to grow AxiomSL's customer base and drive further innovation for critical risk management and regulatory solutions.
"Vlad and I are excited to partner with Thoma Bravo to take AxiomSL through the next phase of our growth journey," said Alex Tsigutkin, Founder and CEO, AxiomSL. "Thoma Bravo has a proven track record of accelerating innovation and growth at leading software companies, as well as a strong appreciation for our values of client success, integrity with accountability, excellence in innovation, diversity of perspectives and internal and external collaboration. AxiomSL's success is a testament to our partnership with the financial industry, and our growth is due in no small part to the contributions of Technology Crossover Ventures (TCV), who has been a critical partner for AxiomSL for the past three years as we grew the franchise at a record pace."
"For nearly 30 years, Alex and his team have grown AxiomSL into the number one platform for risk and regulatory reporting due to their cutting-edge technology, unparalleled understanding of everchanging global regulatory requirements and an unwavering focus on their clients, which include some of the largest and most complex financial institutions in the world," said Holden Spaht, a Managing Partner at Thoma Bravo. "We are thrilled to partner with the AxiomSL team to build on this impressive success and leverage our deep operational expertise in enterprise software to drive continued investment and innovation while pursuing new growth opportunities both organically and through M&A."
Brian Jaffee, a Principal at Thoma Bravo, added, "We've been following AxiomSL's success for many years and couldn't be more excited to partner with Alex and his team for this next phase of growth. The company's software solutions allow the world's most complex financial institutions to manage vast amounts of critical data from many different sources and facilitate the highly complex process of risk and regulatory reporting across the globe. The problems AxiomSL's solutions help solve are only getting more complicated, and we believe the company is well-positioned to deliver for its customers, especially as more of this critical functionality moves to the cloud."
Evercore is acting as financial advisor and Weil, Gotshal & Manges LLP is serving as legal advisor to AxiomSL. Kirkland & Ellis is serving as the legal advisor to Thoma Bravo.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $50 billion in capital commitments, Thoma Bravo partners with a Company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com.
AxiomSL is a global leader in risk analytics, data-management, and regulatory-reporting solutions. Leveraging more than 25 years' experience, AxiomSL combines its deep industry experience and intelligent data-management platform to deliver solutions and services encompassing: financial regulations, capital risk, credit risk, liquidity risk, ownership, trade & transactions and tax reporting. The platform can be deployed on premise or on the cloud. Its client base spans national, regional and global financial institutions with more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management. Its coverage encompasses more than 110 regulators across 55 jurisdictions. AxiomSL is in the top 20 of the Chartis RiskTech100® 2020 ranking. For more information, visit www.axiomsl.com.
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