TA Associates Announces Majority Investment in Bomgar
BOSTON, May 1, 2014 – TA Associates, a leading global growth private equity firm, today announced it has completed an investment in Bomgar, a leading provider of enterprise remote support solutions. Additional terms of the investment were not disclosed.
Bomgar’s software solutions enable technology support professionals to securely access and control remote computer systems and devices anywhere in the world. Bomgar’s products are used to support a wide range of devices—from laptops, servers, smartphones and tablets, to point of sale (POS) systems, medical devices and kiosks—as well as conduct remote training and presentations and manage third-party vendor access. The company serves a large number of Fortune 500 companies and other enterprises in numerous sectors, including education, financial services, government, healthcare, insurance, retail and technology. Founded in 2003, Bomgar has been recognized as one of the fastest-growing private companies in North America, and today has more than 8,000 corporate customers in 65 countries. Bomgar will continue to be headquartered in Jackson, Mississippi, with offices in Atlanta, Washington D.C., London, Paris and Singapore.
“With continuous growth and as a leader in the enterprise segment of its market, Bomgar is a very attractive investment for TA Associates,” said Ashutosh Agrawal, a Director at TA Associates who will join Bomgar’s Board of Directors. “Bomgar has a reputation for customer-focused development, intuitive product functionality and high-quality service, and is well-regarded among large enterprise clients. We believe that Bomgar uniquely addresses the needs of enterprise technology support organizations based on truly differentiated security, integration, collaboration and management capabilities.”
“We’re confident that TA’s majority investment will prove a significant milestone in the evolution of our company and take Bomgar to the next level,” said Joel Bomgar, Founder and Chairman of Bomgar. “TA offers valuable investment expertise, particularly in the technology sector, which will help Bomgar to grow, both locally and internationally, and expand into new markets. We welcome TA to our Board and anticipate a close collaboration as we continue to deliver consistently measurable value to our customers and help them to deliver world-class tech support.”
According to IDC, the clientless remote support market that Bomgar serves has grown at a compound annual growth rate of 19% since 2012.
“Many enterprises have found the free remote access tools and chat products historically used for tech support to be inadequate or insecure,” said Hythem T. El-Nazer, a Director at TA Associates who will also join Bomgar’s Board of Directors. “In addition, large companies require platforms that support a wide range of devices and operating systems and scale to concurrently serve thousands of users. Given the high costs of phone-based support and the continued mobilization of workforces utilizing both corporate and personal laptops, tablets and mobile devices, we see ongoing growth opportunities for Bomgar.”
“We are very pleased to partner with an experienced investor like TA Associates,” said Matt Dircks, who has been appointed CEO of Bomgar. “We see numerous avenues to build even greater value in Bomgar by not only accelerating the organic growth the company has enjoyed since its founding, but also looking at exciting new market opportunities. The consumerization of IT paired with the influx of devices making up the Internet of Things is creating demand for new ways to access, support and manage remote systems. With TA’s guidance, we will have additional experience and resources to fully leverage these opportunities.”
Kirkland & Ellis LLP provided legal counsel to TA Associates. Goodwin Procter LLP served as legal counsel and Shea & Company served as financial adviser to Bomgar.
Bomgar is a leader in enterprise remote support solutions for easily and securely supporting computing systems and mobile devices. The company’s products help organizations improve tech support efficiency and performance by enabling them to securely support nearly any device or system, anywhere in the world — including Windows, Mac, Linux, iOS, Android, BlackBerry and more. More than 8,000 organizations across 65 countries have deployed Bomgar to rapidly improve customer satisfaction while dramatically reducing costs. Bomgar has offices in Jackson, Atlanta, Washington D.C., Paris, London and Singapore. You can find Bomgar on the web at www.bomgar.com, or on Facebook, Twitter, LinkedIn and Google+.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 430 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.