Thoma Bravo, a software investment firm, has completed the deal to acquire QAD Inc., a provider of next-generation manufacturing and supply chain services in the cloud. The transaction was previously announced on June 28, 2021 but was subject to QAD stockholder approval.
QAD stockholders will receive $87.50 per share of class A or B common stock. As a result, QAD’s common stock will no longer be traded and will be delisted from the Nasdaq market.
“The closing of this transaction is an important milestone in QAD’s history, and we are excited to begin the next phase of our company’s evolution,” said Anton Chilton, QAD CEO.
“As new partners to QAD, Thoma Bravo is committed to support the Company in its mission to enable its customers to rapidly adapt to disruption and to effectively innovate for competitive advantage,” added Peter Stefanski, a principal at Thoma Bravo.
Morgan Stanley & Co. LLC served as financial advisor to QAD’s Special Committee, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the Special Committee’s legal counsel. Manatt, Phelps & Phillips, LLP served as legal counsel to QAD. Barclays served as financial advisor and Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo.