Technology

Thoma Bravo to Acquire Majority Stake in USU Product Business

Published

2 hours ago

October 1, 2024

– Thoma Bravo and USU Software AG invest to accelerate growth and product innovation to support leading pan-European provider for IT management solutions
– Benjamin Strehl to lead USU’s Product Business at USU GmbH as CEO together with existing management
– Transaction marks Thoma Bravo’s second investment in Germany within one year, reaffirming the firm’s commitment to the German enterprise software market

MÖGLINGEN, Germany and LONDON, Oct. 1, 2024 /PRNewswire/ — Thoma Bravo, a leading software investment firm, today announced the acquisition of a majority stake in USU Product Business (“USU Product”). Combining Thoma Bravo’s extensive experience and global software investment expertise with USU’s product portfolio is expected to accelerate the company’s growth trajectory and enhance its ability to deliver innovative solutions to customers. USU Product will continue to operate under the leadership of its existing management team. Benjamin Strehl, currently Co-CEO of USU Software AG, will become CEO of USU Product and Bernhard Oberschmidt will join the board of directors.

USU Product provides customers around the world with IT management solutions that enable mastery of disparate IT landscapes and workflows. The company has served as a strategic partner to clients by enabling them to lower cost, increase productivity, and manage growing technological complexity. Thoma Bravo’s extensive network and industry experience will support USU in the development of its product portfolio and the expansion of its geographical footprint, with the goal of making USU Product a leading pan-European provider of IT management solutions.

“With its expertise in software, collaborative culture and passion for investing in companies that deliver transformative technologies, Thoma Bravo is the right partner to enhance our market offering and support our growth ambitions. Together, we can create more value for our customers by enhancing our USU platform and solution offering and expanding our partnership program,” said Bernhard Oberschmidt, CEO of USU Software AG.

“We are thrilled to invest in USU and intend to help build on USU’s storied legacy, unwavering commitment to customers, and product-centricity while helping the team scale further,” said David Tse, a Senior Vice President at Thoma Bravo. “We look forward to working with Bernhard and Benjamin, and their team to further grow their business through innovation and M&A.”

“Our investment in USU marks the second transaction in the DACH region within one year. We see Germany as a significant growth market with strong technology and are excited to support this ecosystem with another investment,” said Irina Hemmers, a Partner at Thoma Bravo. “Thoma Bravo’s investment in USU Product aligns with our broader strategy of working with market-leading software companies to drive transformative growth.”

Thoma Bravo will invest in USU Product alongside USU Software AG to accelerate the business’s growth. USU founder Udo Strehl and the Strehl family remain committed to the product business and will contribute to its future growth path. Going forward, the product business, comprising its leading IT Service Management, IT Asset Management, IT Operations Management and Knowledge Management products, will be an independent entity.

The transaction is part of Thoma Bravo’s strategic expansion into the German market and its commitment to investing in the growth of innovative software companies across Europe. The deal is expected to close by the end of the year, pending regulatory approval.

Guggenheim is the exclusive investment bank advising USU on the transaction, Heuking is serving as legal advisor to USU and RSM Ebner Stolz supported USU with a financial fact book. Raymond James is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Thoma Bravo.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately US$160 billion in assets under management as of June 30, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in more than 490 companies representing approximately US$265 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

About USU Software AG

As a leading provider of software and service solutions for IT and customer-service management, USU enables companies to manage the requirements of today’s digital world. Global organizations use our solutions to cut costs, become more agile, and reduce risks – with smarter services, simpler workflows, and better collaboration. With more than 45 years of experience and locations worldwide, the USU team brings customers into the future. The USU Digital Consulting business will remain a wholly owned subsidiary of USU Software AG. For more information, visit https://www.usu.com/en-us/.

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SOURCE Thoma Bravo

Technology

Avassa Closes New Round of Funding, Welcomes H&M Group as Strategic Investor

Published

50 mins ago

October 1, 2024

STOCKHOLM, Oct. 1, 2024 /PRNewswire/ — Avassa is a Swedish edge application management and operations platform provider. They now close a new investment round, adding the global fashion retailer H&M Group as a strategic investor for the continued modernization of brick-and-mortar store IT operations.

Edge computing is revolutionizing enterprises everywhere by bringing data processing closer to the source, significantly improving application availability, and enhancing real-time decision-making. Avassa offers a Platform as a Service (PaaS) for managing edge applications and infrastructure across various industries including retail, industrial, and automotive. This enables enterprises to efficiently manage the lifecycle of innovative edge applications and build resilient infrastructure that can operate undisrupted during offline scenarios, maintain security posture in exposed store environments, and accelerate innovation.

H&M Group has selected the Avassa Edge Platform as a key component in a broader redesign and innovation initiative for their in-store IT infrastructure. Building on this collaboration, H&M Group’s investment arm, H&M Group Ventures is now extending their engagement with Avassa by investing in the continued growth of the company, alongside Avassa’s existing investors, Fairpoint Capital, and Industrifonden.

“We are honored and proud to have H&M Group join as an investor. This investment further emphasizes H&M Group’s commitment to building a secure and innovative new generation of store IT, already demonstrated in the implementation of the Avassa Edge Platform. Retail is one of the fastest-moving industries in edge computing and we are excited to collaborate closely with H&M Group, industry leaders in this category. We are also grateful to our existing investors for their renewed trust in us on our continued growth journey,” says Fredrik Lundberg, CEO and co-founder of Avassa.

“We are delighted to deepen our partnership with Avassa with this investment and we look forward to continuing to use Avassa as an important component to further enhance our edge computing capabilities across the H&M Group”, says Katharina Gromotka, Investment Manager at H&M Group Ventures.

With this strategic collaboration with H&M Group, Avassa continues their commitment to offering a leading edge management and operations platform at a global scale.

CONTACT:
Amy Simonson
Marketing Manager
amy@avassa.io
+4673 026 47 38

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/avassa/r/avassa-closes-new-round-of-funding–welcomes-h-m-group-as-strategic-investor,c4044484

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Technology

Invitation to media and analyst briefing for Ericsson Q3 2024 report

Published

50 mins ago

October 1, 2024

Report to be released at approximately 7:00 AM CEST on October 15, 2024One live video webcast for analysts, investors, and journalists at 9:00 AM CEST

STOCKHOLM, Oct. 1, 2024 /PRNewswire/ — Ericsson’s (NASDAQ: ERIC) financial report for the third quarter 2024 will be published at approximately 7:00 AM CEST on October 15, 2024. The company will issue a press release with the complete financial report attached, including tables, in PDF format. Following publication of the press release, the financial report will be available on Ericsson’s website: www.ericsson.com/en/investors/financial-reports/interim-reports

President and CEO Börje Ekholm and CFO Lars Sandström will comment on the report and take questions at a live video webcast at 9:00 AM CEST (8:00 AM BST London, 3:00 AM EDT New York).

Join the webcast or please go to www.ericsson.com/investors

To ask a question: Access dial-in information here

The webcast will be available on-demand after the event and can be viewed on our website.

Subscribe to Ericsson press releases here
Subscribe to Ericsson blog posts here
https://twitter.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson

MORE INFORMATION AT:
Ericsson Newsroom
media.relations@ericsson.com (+46 10 719 69 92)
investor.relations@ericsson.com (+46 10 719 00 00)

ABOUT ERICSSON:

Ericsson’s high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we’ve been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com

This information was brought to you by Cision http://news.cision.com

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Invitation to media and analyst briefing for Ericsson Q3 2024 report

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Technology

World Diplomat: AI-Powered Diplomacy Game Where Every Choice Matters – Now Available

Published

50 mins ago

October 1, 2024

World Diplomat is your gateway to a world of diplomacy where every choice matters. Step into the shoes of a world diplomat, explore diverse cultures, understand others better, and learn to accept differences. Harness the power of AI to simulate actions and decisions that can make the world a better place.

EILAT, Israel, Oct. 1, 2024 /PRNewswire-PRWeb/ — Now available on Steam, Windows Store, Apple Store and Google Play, World Diplomat allows players to step into the shoes of a global diplomat, shaping the future of international relations.

Embark on a diplomatic journey to impact the world with skills and strategy. “It’s your time to shape the future, change the world.”

What is World Diplomat?

World Diplomat is your gateway to a world of diplomacy where every choice matters.

Step into the shoes of a world diplomat, select your diplomat name and firm, and embark on a journey to make a meaningful change in the world.

Game Features

180 Cultures: Explore diverse cultures from around the world, understand others better, and learn to accept differences.

60 Languages: Learn new languages and improve your communication with leading figures.

29 Diplomat Skills: Master various diplomatic skills to succeed in missions.

15 Technologies: Leverage diplomat advanced technologies to gain an edge.

25 Futuristic Developments: Implement innovative futuristic developments by your firm.

59 Mission Types: Engage in diverse missions that impact country relations, economies, security, and happiness.

11 Conference Types: Meet high-level attendees and complete unique missions to earn rewards.

Game Highlights

Generative AI: Harness the power of AI to simulate actions and decisions to make the world a better place.

Mission Rewards: Earn money, titles, influence, and opportunities to enhance countries’ stability and prosperity.

Strategic Decisions: Every choice you make will lead to unique outcomes.

Join the global stage and navigate the complexities of diplomatic relations.

Connect with world leaders and make a lasting impact.

Could you be the one to win the Nobel Peace Prize?

World Diplomat offers unlimited options and possibilities.

Will you be the one to lead the world towards a brighter future?

Dear diplomat, The world awaits your leadership.

Unite nations, foster peace, and build a legacy that will echo through history.

Available on

Steam: https://store.steampowered.com/app/3211540/World_Diplomat/

Windows Store: https://apps.microsoft.com/store/detail/9NVJXPLFR3WK?cid=DevShareMCLPCS

Apple Store: https://apps.apple.com/app/world-diplomat/id6612036023

Google Play: https://play.google.com/store/apps/details?id=com.igindis.topdiplomat

About iGindis Games

iGindis Games Studio is an innovative game development company focused on creating engaging and immersive strategy games that reflect real-world scenarios.

Our latest game, World Diplomat, combines cutting-edge AI and diplomacy to create a unique experience for players worldwide.

Press kit

I’ve included a press kit containing the game trailer, screenshots, and other relevant media.

I would be honored if you would consider featuring or reviewing World Diplomat.

Please feel free to reach out if you have any questions, would like to schedule an interview, or need additional information, including Steam activation codes.

You can download the press kit here: https://www.igindis.com/diplomat/PR/PressKit.zip

Thank you for your time, and I hope World Diplomat captures your interest!

Best regards,

Eran Gindi

iGindis Games Studio

Media Contact

Eran Gindi, iGindis Games, 972 523326150, contact@igindis.com, https://www.igindis.com

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SOURCE iGindis Games Studio