TA Associates Announces Acquisition of Idera, Inc.
BOSTON - TA Associates, a leading global growth private equity firm, today announced the acquisition of Idera, Inc., a leading provider of application and server management software. Members of Idera’s senior management will invest alongside TA Associates and will maintain a significant equity interest in the company. Financial terms of the transaction were not disclosed.
Idera provides performance monitoring software for physical, virtual and cloud-based application ecosystems. The company’s solutions provide a database intelligent view of performance for applications that rely on database platforms such as Microsoft SQL, Oracle, DB2 and Sybase. Idera also provides a suite of products optimized for Microsoft SQL Server DBAs and the tools they need for monitoring, backups, security and compliance. With its recent acquisitions of Precise Software and CopperEgg, Idera significantly strengthened its Application Performance Management capabilities and demonstrated the integration skills to quickly advance customer success. The company serves more than 13,000 enterprise and SMB customers worldwide. Founded in 2000, Idera is based in Houston, Texas.
“Idera is a very attractive investment for TA Associates as an emerging leader in the infrastructure software market, led by an experienced management team with a strong track record of driving organic and inorganic growth,” said Hythem T. El-Nazer, a Director at TA Associates who will join Idera’s Board of Directors. “The company has shown a commitment to increasing its product line of robust application performance monitoring software, expanding its addressable market and identifying opportunities for continued growth. We look forward to working with Idera’s talented management team to create value through organic growth and acquisitions.”
“We are excited to welcome TA Associates as a partner in growing our business,” said Randy Jacops, Chief Executive Officer of Idera, Inc. “We chose TA because of their global footprint, significant software investing experience and commitment to supporting portfolio companies through continued acquisitions. Our team is eager to work with TA as we continue to innovate and explore new opportunities globally.”
Database management tools represent a significant part of the $2.7 billion application performance monitoring market. Gartner expects the segment to outperform the total market in annual growth, with SQL Server tools driving a considerable portion of the growth.
“The growth in data, the increasing complexity of enterprise IT environments and the increasing mission criticality of IT infrastructures have placed added pressure on the performance of software applications and underlying databases,” said Ashutosh Agrawal, a Director at TA Associates who also will join Idera’s Board of Directors. “Idera’s industry-leading tools address the growing need of IT professionals to have greater end-to-end visibility into database and application performance.”
Kirkland & Ellis LLP provided legal counsel and Shea & Company provided advisory services to TA Associates. Horzepa, Spiegel & Associates, P.C. served as legal counsel to Idera, Inc. As part of this transaction, previous investors Austin Ventures, Vector Capital, Silverton Partners and Greylock Israel successfully exited the investment.
About Idera, Inc.
Idera is a leading provider of application and server management solutions. The company provides a wide variety of application performance management products, including the Idera line of SQL Server management tools, the Precise line of end-to-end Application Performance Management products, and the CopperEgg line of SaaS-based cloud server and application monitoring solution. Headquartered in Houston, Texas, Idera has more than 13,000 customers worldwide. More information about Idera can be found at www.idera.com.
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 440 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.