Thomas H. Lee Partners, L.P. (“THL”) announced today that it has signed a definitive agreement under which funds affiliated with THL will acquire Alfresco Software, Inc. (the “Company” or “Alfresco”), a leading enterprise open-source provider of process automation, content management, and information governance software.
Founded in 2005 and headquartered in San Mateo, California and Maidenhead, United Kingdom, Alfresco is an enterprise open-source software company focused on making business flow quickly, seamlessly, and intelligently, by driving the convergence of enterprise content management and business process management. Alfresco provides enterprise content management solutions that enable clients to retain, manage, and share documents, files, and processes across cloud, mobile, hybrid, and on-premise environments. The Company’s innovative software powers the work of over 11 million people at industry-leading organizations in 195 countries worldwide.
“We are thrilled about the opportunity to partner with THL – a firm with an impressive track record of growing successful technology and information services businesses,” said Doug Dennerline, Alfresco’s Chief Executive Officer. “With THL’s deep industry experience, operational expertise, and strategic guidance, we will be well positioned to expand our platform, build on our space in the enterprise content management and business process automation markets, and continue providing customers with the best-in-class service they have come to know and expect.”
“We are very excited about this new partnership with Alfresco,” said Laura Grattan, Managing Director at THL. “Alfresco is an innovative leader in content management and process automation solutions, operating in a large, underserved market. Their modern, cloud-native platform is the preferred technology for companies that are carrying out successful digital transformations, making this a highly attractive investment opportunity for THL. Alfresco has an outstanding reputation for enabling customers to collaborate more effectively, optimize business processes, and strengthen compliance, and we look forward to working closely with their talented team to help the Company execute its go-forward strategy and accelerate growth.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2018. Terms of the transaction were not disclosed.