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Stock impact report

U.S. private equity firm takes majority control of Toronto-based software company Cority [Toronto Globe and Mail (Ontario, Canada)]

Allspring Global Dividend Opportunity Fund Common Shares of Beneficial Interest (EOD) 
U.S. private equity firm takes majority control of Toronto-based software company Cority U.S. private equity giant Thoma Bravo LLC has bought majority control of one of Toronto’s oldest and steadiest enterprise software providers, Cority Software Inc. Terms were not disclosed, but industry sources believe the deal values the 35-person company at between $5-million and $75-million. “We’re delighted to partner with Thoma Bravo,” said Cority chief executive officer Mark Wallace. “They’re an 'A' player in the software investment world.” Cority, which changed its name from Medgate two years ago, is a provider of cloud-based subscription software used by companies to perform environmental, health, safety and quality audits. It is also one of two leading players in the business globally that is based in Toronto, along with Intelex Technologies Inc. Its previous majority owner, Norwest Venture Partners, and minority shareholder, Canadian venture fund Georgian Partners, will retain some of the Show less Read more
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