Warburg Pincus has agreed to acquire a majority stake in Raptor Technologies from fellow investment firm Thoma Bravo, in a deal that values the school safety software provider at around $1.8 billion, according to people familiar with the matter.
THE DETAILS
- The deal could be announced imminently, the sources said, requesting anonymity to discuss confidential information.
- As part of the agreement, private equity firm JMI Equity, another existing investor in Raptor, will retain a significant minority stake in the company, the sources added.
- Warburg Pincus and Thoma Bravo declined to comment. Raptor Technologies and JMI Equity did not immediately respond to requests for comment.
THE COMPANY
- Houston-based Raptor Technologies provides a suite of safety software solutions for K-12 schools that include crisis prevention, preparation for emergency response and recovery, and safe student movement management.
- Raptor is used by 60,000 schools in 55 countries, according to its website.
- The kind of technology that Raptor provides has become more sought-after in recent years as the number of school-based security incidents, including school shootings, continues to rise.
- Reuters reported in September that Thoma Bravo was exploring a sale of Raptor Technologies.
