Workiva Inc., a maker of software for regulatory, financial and environmental, social and governance reporting, has drawn takeover interest from private equity firms, according to people with knowledge of the matter.
(Bloomberg) — Workiva Inc., a maker of software for regulatory, financial and environmental, social and governance reporting, has drawn takeover interest from private equity firms, according to people with knowledge of the matter.
Thoma Bravo and TPG are among firms that have held financing discussions with direct lenders to support a potential transaction, said the people, who requested anonymity as the information is private. A transaction has yet to be agreed and it’s possible talks could collapse.
Representatives for Thoma Bravo, TPG and Workiva declined to comment.
Ames, Iowa-based Workiva, led by Chief Executive Officer Martin Vanderploeg, had a market valuation of about $3.5 billion before Bloomberg reported on the takeover interest. Its shares on Wednesday jumped as much as 23%, the most ever, and their highest since May 5.
This year, buyout firms have agreed to take private a slew of software companies with the help of financing from private credit firms, including Anaplan, Avalara Inc. and Zendesk Inc.
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(Updates with share price move in fourth paragraph.)
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