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(Sharecast News) - Investment firm Thoma Bravo has agreed to buy Canadian software company Kneat for around CAD650m.
Under the terms of the deal, Thoma Bravo will pay CAD6.50 per share. The purchase price is a premium of around 40% to the closing share price on 8 May, which was the last trading day prior to Kneat announcing an ongoing strategic review. It's a 20% premium to the closing price on Friday 5 June.
Kneat provides companies in highly regulated industries with "unparalleled" efficiency in validation and compliance through its digital validation platform Kneat Gx.
Kneat chief executive and co-founder Eddie Ryan said: "We are thrilled to partner with Thoma Bravo, who we are confident will help us accelerate our mission and our position as the leader in digital validation and quality process automation for life sciences at an exciting time for the industry.
"As we begin to leverage our critical position in validation to enable customers to expand their use of our platform to adjacent areas, having the sector expertise, strategic alignment, and resources of Thoma Bravo behind us will be a powerful catalyst. We are energised by the path we are announcing today which delivers value to all our stakeholders."
Adam Solomon, a partner at Thoma Bravo, said: "In today's increasingly complex regulatory environment, more customers are looking to Kneat to provide them with greater control, efficiency, and real-time visibility across mission-critical compliance workflows.
"We are confident we can apply our operational expertise and deep experience working with market-leading software companies to accelerate Kneat's growth."
Software-focused investment firm Thoma Bravo has more than $172bn in assets under management as of 31 March 2026.
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