Connect with us

Technology

Thoma Bravo to Acquire Majority Stake in USU Product Business

Published

on

– 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/.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/thoma-bravo-to-acquire-majority-stake-in-usu-product-business-302263585.html

SOURCE Thoma Bravo

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

State Grid Zhenjiang Power Supply Company Establishes the Province’s First Integrated Station for Green Electricity, Green Certificates, and Carbon Electricity Services

Published

on

By

ZHENJIANG, China, Nov. 26, 2024 /PRNewswire/ — Recently, the first integrated station for green electricity, green certificates, and carbon electricity services in Jiangsu was officially inaugurated at the State Grid Zhenjiang Power Supply Company’s Danyang City district service hall.

In recent years, green electricity has emerged as a crucial factor influencing foreign trade and the construction of green industrial chains. From January to October this year, Zhenjiang’s total green electricity trading volume reached 113 million kilowatt-hours, marking a 39% increase year-on-year. To address the growing demand for green electricity consumption among enterprises, the State Grid Zhenjiang Power Supply Company utilizes its service hall as a public service window to offer “one-stop” comprehensive services. These include consultations on green electricity and green certificate policies, supply and demand trading, bill interpretation, green electricity consumption and carbon footprint certification, as well as the construction of zero-carbon parks and intelligent microgrids.

Distinguished from other green electricity and green certificate service stations, this company has expanded its services to include carbon electricity. It incorporates the company’s self-developed “Carbon Electricity” management and service platform to facilitate green electricity traceability. Collaborating with domestic and international carbon service organizations such as the CQC, it provides unified certification services for green electricity and green certificates, thereby assisting more local export enterprises and bridging the “last mile” in electricity carbon emission calculations on the user side.

According to statistics, this service station has already enabled the province’s first government park-side photovoltaic project to secure green certificates. It has also launched Zhenjiang’s inaugural “Green Electricity Loan,” aiding entities like Ji Kai En (Danyang) Industrial Co., Ltd. and five other export-oriented enterprises to purchase approximately 340 megawatt-hours of green electricity each month. Moreover, it has supported Danyang City Jinlong Energy Technology Co., Ltd., and other companies, in selling 47 megawatt-hours of distributed photovoltaic green electricity. Through its one-stop, full-chain green and low-carbon services, the station aids enterprises in achieving sustainable, low-carbon, high-quality development.

 

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-zhenjiang-power-supply-company-establishes-the-provinces-first-integrated-station-for-green-electricity-green-certificates-and-carbon-electricity-services-302316265.html

SOURCE State Grid Zhenjiang Power Supply Company

Continue Reading

Technology

BNP Paribas, AXA and Bloomberg’s former executive joins fintech Premialab

Published

on

By

Diane Lansard, further expands Premialab’s marketing footprint bringing in her extensive banking and asset management expertise to the fintech dedicated to quantitative investment strategies.

LONDON, Nov. 26, 2024 /PRNewswire/ — Premialab announces the appointment of Diane Lansard, as Head of Marketing. Based in London, Ms. Lansard will lead the marketing strategy of the leading independent platform dedicated to quantitative strategies. Before joining PremiaLab, Ms. Lansard served a wide range of institutional clients in buy-and sell-side leadership roles at BNP Paribas, AXA, Bloomberg, and M&G Investments.

Ms. Lansard has over 15 years’ experience in banking, asset management and fintech solutions. She will be responsible to execute and scale Premialab’s marketing initiatives, providing data and analytics solutions to asset managers, pension funds, insurance companies and sovereign wealth funds globally.

Adrien Geliot, CEO of Premialab, said: “We are thrilled to welcome Diane to our team as we continue to scale our presence globally. Her extensive experience in finance and innovative approach to marketing, will play a pivotal role in driving our growth efforts. Diane’s expertise will further strengthen our position as a leader in data and analytics for institutional investors.”

The announcement follows recent senior appointments at Premialab including John Macpherson, former Managing Director at Goldman Sachs, Citibank, and Nomura; Marc Fisher, former Managing Director at Citibank with a prior position at Deutsche Bank; and Georgios Sittas, former Managing Director at HSBC, Standard Chartered, and previously a director at Lehman Brothers.

Recognized as the leading independent platform for data and analytics on quantitative strategies, Premialab’s capital markets infrastructure is currently used by leading institutional investors, accelerating their digitalization and enhancing performance and risk control while reducing costs. The Platform is already providing data to institutional clients representing over $20 Trillion of assets under management.

Notes to Editors

About PremiaLab

Premialabis the leading independent platform providing data, analytics and risk solutions on quantitative and multi-asset strategies in collaboration with leading investment banks and institutional investors globally. Combining intelligent technology with a unique source of information the platform empowers asset allocators to make better investment decisions whilst achieving utmost time and cost efficiency.

With offices in London, Paris, New York, Hong Kong, Sydney, and Dubai, its international team is dedicated to supporting a global client base with the most up-to-date QIS dataset, advanced portfolio construction, performance and risk analytics. The firm has established strong partnerships with the top 18 investments banks, global asset managers, pensions funds and insurance companies.

For more information please visit: www.premialab.com

View original content:https://www.prnewswire.co.uk/news-releases/bnp-paribas-axa-and-bloombergs-former-executive-joins-fintech-premialab-302315533.html

Continue Reading

Technology

Singapore auto market stays bright with tech injection from Sgcarmart

Published

on

By

SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Sleepy showrooms filled with dubious characters used to be the defining feature of Singapore’s used car trade, but the sector has seen rapid change in the past years.

Founded as an online car classifieds page, Sgcarmart’s arrival brought much needed light to consumers shopping in an otherwise opaque market. Those looking to purchase a used car could now see just what alternatives were available, all at clearly stated prices, with the simple click of a few buttons. The firm had finally corrected the long unaddressed discrepancy of market knowledge back in favour of the everyday consumer, and with this, came fairer prices for all looking to purchase a set of wheels.

But Sgcarmart did not rest content with what it had achieved. As consumer habits and expectations evolved in the rapidly growing city-state, so too did the firm evolve.

On the front-end, the firm has embraced new programming languages, integrating it across its projects even as the dominance of the programming language only started to become apparent. Alongside this, Sgcarmart also made the transition to more modern frameworks, moves that have enabled it to create more efficient and user-friendly applications.

The changes have been a welcome beacon for all in Singapore. Today, the Sgcarmart website and accompanying app is packed with prices and details of new and used cars alike (information that is much needed in this market). Users can also easily obtain information on vehicle care and maintenance, and there’s a host of resources for individuals to obtain parts and accessories for their vehicles.

More recently, Sgcarmart has also taken to integrate AI into its workflows, allowing it to enhance staff productivity while ensuring it remains ready to tackle future challenges with confidence.

Propelling this most recent embrace of technology is Sgcarmart’s GM of Product Development, Mrs. Paustina Chou, who recently won the Tech Talent Assembly award for “Tech Talent Builders”.  Together with the team, she has designed and developed a multifaceted strategy designed to foster tech talent growth at Sgcarmart, building the people that have stood at the centre of the firm’s innovation.

With the goal of ensuring that talents are up to date with the latest emerging market trends including the growth of modern development frameworks, widespread use of generative AI, as well as the maturing of cloud computing and machine learning, she has worked closely with the teams under her care to ensure all within the firm stay updated in a rapidly evolving tech landscape.

Shahrul Tahir, CEO of Sgcarmart, said, “At Sgcarmart, we continue to cement our position as Singapore’s no.1 automotive platform by our continuous pursuit on improvement, both on technology and on talent development.”

There’s still more work to be done, of course. 2024 saw car prices in the country skyrocket, while a multi-day failure of one of the nation’s oldest train lines has led to renewed doubts about how the state ought to manage its public transport infrastructure.

Addressing these will no doubt require clever solutions from the world of public policy and urban planning. But the nation can at least rest easy with the knowledge that when it comes to applying new tech, the (head) lights at Sgcarmart are shining brighter than ever.

About SGCM Pte Ltd

As the first choice car site with over 30,000 listings, Sgcarmart offers the largest database of new and used cars, with an average of 10 cars sold every hour, helping to drive approximately 70% of all second-hand car transactions in Singapore. The platform receives more than 1.6 million users every month, offering the highest level of support for drivers with its suite of value-added car ownership & transactional services.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/singapore-auto-market-stays-bright-with-tech-injection-from-sgcarmart-302316211.html

SOURCE Sgcarmart

Continue Reading

Trending