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Private equity company HGGC recently agreed to own significant controlling shares in Idera Inc., a leading provider of management tools for business. The tech-based private equity company joins Idera’s CEO Mr. Randy Jacops and the firm’s TA Associates as investors. As private-public equity markets continue to reward consolidation companies in the software industry, HGGC CEO Richard Lawson states that the business will garner more investments in the future.
Public equity markets have been rewarding consolidated companies in the software sector. Idera Inc. has made over 2- add-on acquisitions in the last decade. Therefore, Richard Lawson of HGGC expects the company to delve into more businesses in the future. Headquartered in Houston and with main offices in Austria and the United Kingdom, Idera Inc. provides database management software for Linux servers. The private equity firm remains disciplined in its acquisitions even as it acquires major controlling stakes in a company. As reiterated by Rich Lawson, the firm never buys one hundred percent of the shares of a company. The addition of Idera Inc. brings HGGC LLC a huge consolidator.
Idera Inc. is known for developing software that makes it possible for database professionals to create, monitor, and evaluate various data systems while building application development tools to assist software engineers test and utilize applications faster. Idera’s customers span multiple sectors such as education, energy, financial, and healthcare. Some of the institutions that employ its products include The University of Notre Dame, Saint Francis Health Services, as well as Microsoft.
TA Associates was established in 1968. The private equity company is situated in Boston and targets technology, healthcare, financial services, and consumer sectors. Recently, it purchased MRI, a real estate tech firm. TA Associates has a business relationship with HGGC LLC.
HGGC boasts of being a leading private equity company based in Palo Alto, California. It has over $4.3 billion in capital commitments. The company was established as Huntsman Gay Global Capital in 2007. Currently, it is led by Greg Benson alongside Steve Young. Young is a skilled investment expert who has been chairing the firm’s decision-making process. He also serves as a managing director at Idera Inc.