Merger follows acquisition of the companies by software private equity global leaders Thoma Bravo & JMI Equity
HOUSTON and ATLANTA, Aug. 25, 2021 /PRNewswire/ — iOFFICE, an industry leader in workplace experience and asset management solutions, and SpaceIQ, a leading Integrated Workplace Management System (IWMS), space management, and employee experience provider, today announced that they have merged following strategic investments in the companies by global private equity firms Thoma Bravo and JMI Equity. Together, the combined organization will address a rapidly growing market opportunity through the most complete offering of smart platforms for managing corporate real estate, physical assets, and workplace experience.
Monumental shifts in workplace, facility management, and business-critical equipment requirements, intensified by increased employee expectations for workplace experience and flexibility, have driven demand for tools that enable businesses to adapt more quickly than ever before. With more than 10,000 customers in over 85 countries, and the most comprehensive product portfolio, the combination of iOFFICE and SpaceIQ creates the clear leader addressing these needs.
Thoma Bravo is joined by JMI Equity, the previous majority investor in SpaceIQ, as primary investors in the combined company. In addition, Waud Capital Partners, the previous majority investor in iOFFICE, will remain invested in the combined company.
“After tracking the workplace and asset management spaces for years, this investment comes at a unique time when modern technologies are critical for managing corporate office space and assets,” said A.J. Rohde, Senior Partner at Thoma Bravo. “These complementary franchises will accelerate innovation and we’re excited to work with the team to continue building a world-class business in a market with exceptional growth opportunities.”
“By combining the resources of SpaceIQ and iOFFICE, the company will significantly accelerate plans for expanding products and capabilities that help companies succeed in the era of hybrid work,” said Brian Hersman, General Partner at JMI Equity. “We’re excited to continue our partnership with SpaceIQ and this newly integrated organization to support their next phase of growth.”
Wain Kellum, CEO of SpaceIQ, will remain as CEO of the newly integrated organization. Mark Peterson, CEO of iOFFICE, will focus on leading iOFFICE through the transition to set the merged company up for success.
“Our product roadmaps and prospects were tightly aligned, making a merger the best option to accelerate innovation and evolution. Bringing these two companies and teams together gives us unmatched ability to produce the solutions that our rapidly changing industries require,” said Wain Kellum. “Thoma Bravo’s background in building industry leaders gives us experience, scale, and product capability that no other vendor in our industry comes close to matching.”
Kirkland & Ellis LLP served as legal counsel to Thoma Bravo. Goodwin Procter LLP served as legal counsel to JMI Equity.
iOFFICE creates the most responsive, frictionless workplaces everywhere through space planning, employee experience, and asset management SaaS solutions. Our cloud-based, open-API platforms and mobile apps help businesses of all sizes connect data, people, and things wherever work takes place. Through our marketplace of smart building and IoT connectors and global partner network, iOFFICE enables enterprises to increase agility and scalability while streamlining their tech stack. More than 8,000 organizations in 85 countries choose iOFFICE to make their workforces more productive, create exceptional experiences, and simplify facility and equipment management. See why at www.iOFFICECORP.com.
SpaceIQ makes your workplaces smarter and your employee experiences better. If you need centralized data-driven platform to make better informed decisions about your real estate, we’ve got you. If you want to plan and manage a more productive and efficient work environment, you’ve come to the right place. And if you want to give your employees a frictionless experience so they can do their best work, we do that too. Our mission is to help businesses of all sizes reach their full potential by creating great workplaces that attract and retain the talent they need to grow and succeed. Please visit www.spaceiq.com.
About Thoma Bravo:
Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in assets under management as of March 31, 2021. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired more than 300 companies representing over $85 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco. For more information, visit thomabravo.com.
About JMI Equity:
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 155 businesses in its target markets, successfully completed over 105 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.