Thoma Bravo announced that it has reached an agreement to acquire Calypso Technology from international private equity group Bridgepoint and global growth investor Summit Partners. Thoma Bravo is a private equity investment firm focused on the software and technology-enabled services sectors. The deal is expected to close in Q2 2021 and financial terms of the transaction were not disclosed.
Founded in 1997 and headquartered in San Francisco with offices around the world, Calypso is a cloud-enabled provider of cross-asset, front-to-back solutions for financial markets with over 35,000 users in 60+ countries. Its software improves reliability, adaptability, and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury, liquidity, and collateral. Calypso uses cloud microservices and blockchain distributed ledger technology (DLT) based solutions to reduce trading costs and improve time to value.
Didier Bouillard, CEO of Calypso, said in a statement: “Thoma Bravo has a proven track record of supporting its portfolio companies by investing in growth initiatives and strategic acquisitions designed to drive long-term value and we are excited to continue delivering innovative solutions to the financial markets while accelerating our growth.”
Holden Spaht, a managing partner at Thoma Bravo, said in a statement: “Calypso’s technology allows its world-class customer base to navigate the highly complex and regulated capital markets with greater transparency and lower costs. We look forward to partnering with Didier and his team to continue building on their great momentum supported by increased investment and innovation and a maniacal focus on customer success.”
Brian Jaffee, a principal at Thoma Bravo, said in a statement: “We are thrilled to partner with such a high-quality franchise and management team to help drive continued growth both organically and through M&A. Calypso’s financial services end market is massive and it is well-positioned to capitalize on the strong trend of technology outsourcing to best-in-class platform vendors, particularly as the move to the cloud accelerates.”
“As the regulatory and competitive environment grows more complex, we have seen financial institutions shift their capital markets technology spend from legacy, internally developed platforms to modern, cloud-based software solutions,” said Scott Collins, managing director at Summit Partners, in a statement. “Calypso has supported financial institutions across developing and emerging markets on their modernization journeys.”