Thoma Bravo is set to buy the trading software group Calypso, in a deal that values the San Francisco-based company at $3.75bn, according to two people familiar with the matter.
The US-based buyout group, which specialises in software deals, will acquire the firm at a hefty valuation of 37 times the $100m that Calypso generated in earnings before interest, tax, depreciation and amortisation in the year to December 2020.
The deal underlines how a rush of private equity money into the technology sector in recent years has driven up valuations. The sector accounted for 28 per cent of all private equity deals by value in 2020, according to figures from Refinitiv, as the pandemic increased the appeal of tech companies.
Source: Financial Times
By Kaye Wiggins
