Kirkland & Ellis advised private equity firm Thoma Bravo on its acquisition of QAD Inc., a provider of cloud-based enterprise resource planning software and services for manufacturers, for around $2 billion.
Paul, Weiss advised a special committee of independent directors formed by QAD’s board to negotiate the transaction, which is expected to close in the fourth quarter.
Paul Hastings advised Pamela Lopker, QAD’s founder and controlling stockholder, who intends to retain a significant stake in the company and continue to serve on its board, according to a statement.
Under the agreement, QAD shareholders will get $87.50 per share in cash. After the transaction, QAD will become a private company, with current CEO Anton Chilton continuing in that role, and the company staying in Santa Barbara, Calif., the statement says.
“As a private company owned by Thoma Bravo, we will have enhanced flexibility, focus and resources to invest in--and capitalize on--our expanding growth opportunities,” Chilton said.
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