Partnership will accelerate Planview’s growth and vision for Agile and PPM for Enterprises

Austin; San Francisco; Fort Worth, Texas; and Boston — December 18, 2020 — TPG Capital, the private equity platform of global alternative asset firm TPG, and TA Associates, a leading global growth private equity firm, today announced they have finalized the previously announced acquisition of Planview, a global leader in Portfolio Management and Work Management. Planview’s previous majority shareholder, Thoma Bravo, has retained a minority interest in the company.

In conjunction with the close of the transaction, Planview announced that CEO Greg Gilmore has decided he will step down from his role in the coming months after nearly 25 years of service. The process is not immediate, and Gilmore will continue to oversee the company’s day-to-day operations throughout the search for, and onboarding of, Planview’s next CEO. Gilmore will advise on the comprehensive search in partnership with Planview’s Board of Directors and will continue to serve the company as an independent director following a thoughtful leadership transition.

“For the last two and a half decades, I’ve had the extraordinary honor of working alongside world-class colleagues, customers, and partners as we helped to transform strategy to delivery,” said Gilmore. “It is rewarding to reflect on all that we’ve accomplished, and I’m confident about the company’s great future in partnership with TPG Capital and TA Associates. I look forward to working with our investment partners, as well as Planview’s Board of Directors, to identify the right leader for Planview to carry forward our vision and drive our next chapter of growth.”

“Greg has been instrumental in positioning Planview as a market leader and has been a driving force behind the company’s significant growth and entrepreneurial culture,” said Nehal Raj, Partner at TPG Capital. “We thank him for his tremendous contributions and look forward to continuing our work together. Greg has set a very high bar, so we will be diligent in our search for a successor who can build on Planview’s strong momentum and success."

“I have known Greg for more than a decade and it has been a pleasure watching him build Planview into a thriving business and an industry leader,” said Ashu Agrawal, a Managing Director at TA Associates. “We welcome the opportunity to work with Greg during the transition to a new CEO, and longer term in his role as an independent director. Day-to-day, we are looking forward to working closely with Greg and the Planview management team to pursue continued organic and inorganic growth for the company.”

On November 10, 2020, TPG Capital and TA Associates announced that they had entered into a definitive agreement to acquire Planview for $1.6 billion. Founded in 1989, Planview provides a comprehensive platform that spans the spectrum of Portfolio Management and Work Management solutions that enable organizations to transform and accelerate on-strategy delivery at enterprise scale. Together with TPG Capital, TA Associates, and Thoma Bravo, Planview is poised to meet the needs of large enterprises as they transform strategy to delivery in today’s fast-paced, highly disruptive markets.

UBS Investment Bank and Deutsche Bank Securities Inc. provided committed debt financing, and alongside Barclays and Jefferies LLC acted as financial advisors to TPG Capital and TA Associates. Ropes & Gray served as legal counsel to TPG Capital, and Goodwin Procter served as legal counsel to TA Associates. JP Morgan and DBO Partners acted as financial advisors to Planview and Thoma Bravo, and Kirkland & Ellis served as legal counsel.

About Planview

Planview has one focus: enabling the transformation journey as organizations rewire strategy to delivery in today’s fast-paced, highly disruptive markets. Our solutions uniquely help organizations navigate this journey and accelerate on-strategy delivery at enterprise scale. Planview’s full spectrum of Portfolio Management and Work Management solutions create organizational focus on the strategic outcomes that matter and empower teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enable customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, Planview has more than 700 employees supporting 3,500 customers and 1 million users worldwide. For more information, visit: https://www.planview.com/.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with approximately $85 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com on Twitter @TPG.

About TA Associates

TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Thoma Bravo

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of October 31, 2020, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

Media Contacts:

Planview
Leslie Marcotte
719-439-4921
lmarcotte@planview.com

TPG
Luke Barrett
415-743-1550
media@tpg.com

TA Associates
Marcia O’Carroll
617-574-6796
mocarroll@ta.com

Philip Nunes, BackBay Communications
617-391-0792
phil.nunes@backbaycommunications.com

Thoma Bravo
Megan Frank
212-731-4778
mfrank@thomabravo.com