The Riverside Company, a global private investor focused on the smaller end of the middle market, has signed a definitive agreement to sell Greenphire, a specialist in financial lifecycle management software for clinical trials, to Thoma Bravo, a software focused private equity firm.

The pending transaction is expected to close in the second quarter of this year, subject to the satisfaction of regulatory approval and customary closing conditions. Financial details were not disclosed.

Founded in 2008, Greenphire enables pharmaceutical industry leaders worldwide to run more efficient and successful clinical trials. The company’s end-to-end solutions optimise clinical trial performance by streamlining financial management, payment and logistical workflows from sponsors and contract research organisations (CROs) to sites and patients in more than 70 countries.

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Source: Private Equity Wire