The Private Equity team advised JMI Equity in its strategic investment, along with Thoma Bravo, in iOFFICE and SpaceIQ. As a result, the two companies have agreed to merge. Together, the combined organization will address a rapidly growing market opportunity through the most complete offering of smart platforms for managing corporate real estate, physical assets, and workplace experience.
Thoma Bravo is joined by JMI Equity, the previous majority investor in SpaceIQ, as primary investors in the combined company. In addition, Waud Capital Partners, the previous majority investor in iOFFICE, will remain invested in the combined company.
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 155 businesses in its target markets, successfully completed over 105 exits, and raised more than $6 billion of committed capital.
For additional details on the investment, please read the press release.