Apax Partners has agreed to buy software company InfoVista SA from Thoma Bravo. Financial terms were not disclosed. Paris-based InfoVista provides network performance management software to communication service companies, mobile operators and government organizations. The target has more than 1,500 customers.

“At the time of our acquisition, we worked closely with them on an aggressive growth plan that built upon the successful platform they had developed,” says Thoma Bravo partner Robert Sayle. Thoma Bravo acquired InfoVista in 2012 and under Thoma Bravo's ownership, InfoVista has made at least two add-on deals including Mentum (2012) and Ipanema Technologies (2015).

Thoma Bravo, based in Chicago, recently closed a $1 billion fund that will target lower middle market software companies. In 2015, the firm partnered with Silver Lake to buy SolarWinds and also closed a deal for MedeAnalytics. Thoma Bravo won Mergers & Acquisitions 2014 M&A Mid-Market Deal of the Year award for its $930 million acquisition of TravelClick.

London-based Apax has ample experience in the technology space. Some of its investments include Aptos and Exact Software. The PE firm has also been active in other sectors lately. Earlier in 2016, Apax said it will buy a majority stake in the respiratory business of Becton, Dickinson and Co.  (NYSE: BDX) and in 2015 it purchased a stake in weight loss services provider Ideal Protein

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