RTTNews | Jun 28, 2021 08:22AM EDT

08:21 Monday, June 28, 2021 (RTTNews.com) - QAD Inc. (QADA, QADB), cloud-based manufacturing and supply chain solutions provider, announced Monday that it has entered into a definitive agreement to be acquired by private equity firm Thoma Bravo, in an all-cash transaction with an equity value of approximately $2 billion.

Under the terms of the agreement, QAD shareholders will receive $87.50 per share of Class A Common Stock or Class B Common Stock in cash.

Upon completion of the transaction, QAD will become a private company with the flexibility to continue investing in the development and deployment of Enterprise Resource Planning (ERP) software and related enterprise software for manufacturing companies around the world.

Anton Chilton will continue to lead QAD as CEO, and the Company will maintain its headquarters in Santa Barbara, California.

The transaction is expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including the approval of owners of the majority of QAD shares not held by Lopker, her affiliates and other directors and officers of the Company.

Following closing of the transaction, Ms. Lopker intends to retain a significant ownership interest in the Company and will continue to serve on the QAD Board.

Read the original article on RTTNews ( https://www.rttnews.com/3205401/qad-inc-to-be-acquired-by-private-equity-firm-thoma-bravo-for-2-bln-in-cash-quick-facts.aspx)

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