Private equity, IT management, MSP, Content

ConnectWise Company Sale Closes

Thoma Bravo's acquisition of ConnectWise closed as planned on February 28, and executives from the private equity firm are expected to attend a celebration today at the IT management software company's Tampa, Florida, headquarters, according to sources close to the deal.

ConnectWise Founder Arnie Bellini
ConnectWise Founder Arnie Bellini
Jason Magee, CEO, ConnectWise
Thoma Bravo Partner Robert Sayle

ConnectWise holds an internal companywide update the first Friday of every month. That "First Friday" tradition continues today, with executives from ConnectWise and Thoma Bravo expected to celebrate the company's journey and rally the business forward.

Robert Sayle, a partner at Thoma Bravo, is expected to work closely with ConnectWise going forward, though ChannelE2E does not know if Sayle in particular will be on-hand for today's First Friday gathering in Tampa.

ConnectWise: The Long-term Plan

ConnectWise on February 25 announced the company sale and CEO transition from Arnie Bellini to Jason Magee, formerly president and COO of the IT management and business automation software company.

Rumors about the deal first surfaced on ChannelE2E on February 4. Financial terms of the deal were not disclosed, but ChannelE2E estimates the value at roughly $1.5 billion, based on publicly available information and our previous coverage of IT Nation conference content.

ConnectWise developed a 2019 business strategy and five-year strategic plan ahead of the deal. Thoma Bravo embraced those plans as part of the company acquisition.

Our complete coverage of the deal includes:

Stay tuned for more updates.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.