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Thoma Cressey Completes Acquisition of Vision Solutions and iTera, Inc.; Vision and iTera Announce Merger
Market and Technology Innovators Create World's Leading High Availability Vendor for System i
| Source: Vision Solutions
IRVINE, CA and SALT LAKE CITY, UT -- (MARKET WIRE) -- November 2, 2006 -- Thoma Cressey Equity
Partners announced today it has finalized its acquisition of Vision
Solutions and iTera, Inc. Concurrently, Vision Solutions and iTera are
merging and the newly formed enterprise is privately held by Thoma Cressey.
Financial details of the transaction will not be disclosed.
"Today we become the world's leading provider of high availability
solutions for the System i market," said Nicolaas Vlok, CEO of the newly
merged company. "With our shared goals for the future and with the
combination of two great companies -- our products, technologies and people
-- we will continue to focus our efforts on the System i market to provide
the best protection of applications and information to organizations of all
sizes across the globe. As we look forward, the combination of solutions
and technologies will yield even more innovation and benefits for current
and new clients."
Operating as Vision Solutions, the new company will focus its expanded
resources on IBM System i infrastructure software and the organization will
be IBM's largest high availability Premier Business Partner in the world.
The company's combined products will be marketed under the iTera brand.
"This is a tremendous development for the System i market and validates the
innovative technology pioneered by iTera," said Dan NeVille, CEO of iTera.
"Our Echo2 High Availability products are remarkably successful and with
Vision's global reach, we expect to create significant traction in all
markets. This merger creates a clear choice for companies considering high
availability."
According to Scott Crabill, partner of Thoma Cressey, "iTera and Vision
have significant synergies that make this company an industry leader.
Vision has excelled in enterprise solutions for global organizations and
has been very successful in international markets. iTera has had excellent
growth in North America and has developed innovative technology, removing
barriers of entry for ease of use, management and implementation.
Vision Solutions of Irvine, Calif., provides high availability solutions,
as well as data and systems management solutions for the Global 5000.
Based in Salt Lake City, iTera develops and integrates System i high
availability and continuous availability solutions including Echo2™ High
Availability and Migrate While Active™. The company will maintain
operations in both cities.
For more information, visit www.visionsolutions.com and www.iterainc.com.
About Thoma Cressey Equity Partners
Thoma Cressey Equity Partners is a leading private equity investment firm
that has been providing equity and strategic support to experienced
management teams building growing companies for more than 25 years. In the
software industry, Thoma Cressey has amassed a portfolio of software
earnings in excess of $300 million. Thoma Cressey's investment focus is on
companies in the software, healthcare, business services and consumer
products industries. Thoma Cressey currently manages approximately $2
billion of equity capital.
For more information on Thoma Cressey Equity Partners, visit
www.thomacressey.com.