On Aug. 8, Madison Dearborn Partners (MDP) and Thoma Bravo revealed they successfully finalized the transaction selling Syntellis Performance Solutions, a supplier of enterprise performance management (EPM) software, data and intelligence solutions to Roper Technologies, Inc. (“Roper”) for an all-cash payment amounting to an enterprise value of $1.4 billion. Subsequently, Syntellis will be integrated with Roper’s Strata Decision Technology business, according to a press release.
"It has been a pleasure working with MDP, Flint and the entire Syntellis team to create a truly best-in-class EPM leader," said A.J. Rohde, a senior partner at Thoma Bravo.
After Syntellis was officially split from Kaufman Hall in August 2020, it went through a transformation with the assistance of finance from Thoma Bravo and MDP. Over the course of the past three years, MDP and Thoma Bravo have worked closely with Syntellis and its leadership to develop complete enterprise performance management (EPM) solutions for the firm. These solutions have been improved and brought up to date in order to cater to the requirements of Syntellis' expanding base of customers all over the world. According to the press release, during this time period, Syntellis focused on improving its products and platforms, particularly its Axiom365 SaaS offering, and expanding its planning and performance portfolio by acquiring Stratasan, a pioneer in cutting-edge healthcare market intelligence and data analytics.
"Together, we drove growth and innovation by building on the company's strong product offering and its commitment to providing customers with the operational, financial and strategic data they need to navigate their dynamic market environments and improve business outcomes," Rohde said. "As a Roper subsidiary, we are looking forward to the continued expansion and success of the parent company."
According to the press announcement, William Blair acted in the capacity of financial consultant for MDP and Thoma Bravo, and Kirkland & Ellis LLP served as the legal advisor for the transaction.
"Thoma Bravo and MDP's support and collaboration have accelerated our growth, advanced our product roadmap and allowed us to better serve our valued clients," Flint Brenton, chief executive officer of Syntellis, said. "The news that was announced today is a reflection of the hard work that has been put in by everyone at Syntellis, and it ushers in an exciting new era for the company. Through our affiliation with Roper, we will be able to further our mission of providing our customers with the resources they require to achieve the highest levels of performance possible by implementing strategies that are specific to the fields in which they operate."