Rocket Software is entering a definitive agreement for Bain Capital Private Equity to acquire a majority stake in the company. The enterprise value of the transaction is approximately $2 billion. Rocket Software will continue to operate under its current management team, led by President and Chief Executive Officer Andy Youniss.
Bain Capital Private Equity has deep experience in the technology sector, having made investments in a wide range of software companies including Applied Systems, BMC Software, CentralSquare Technologies, MYOB, Skillsoft, SunGard Data Systems, Symantec, Viewpoint Construction Software, Vertafore, and Waystar.
The move will accelerate product development and initiatives at Rocket.
“We are excited to partner with Bain Capital as we get ready to launch our fourth decade of growth,” said Youniss. “Rocket solutions help organizations get the most from their data and achieve ‘digital literacy’ through modernization, which is the fuel they need to compete more effectively in the digital age. Our core values begin and end with putting our customers and partners first. This new relationship will allow us to devote significant resources to our new global R&D organization, while developing and delivering even more solutions that help our customers both optimize and modernize their applications, data, and security infrastructure on IBM Z, IBM i, and MultiValue application platforms.”
Founded in 1990, more than 10 million IT and business professionals rely on Rocket Software products to run their critical infrastructure applications, business processes and data, including 43 of the Fortune 50 companies.
Rocket Software’s solutions allow users to unlock logic and data inside host-based systems to help speed digital transformation projects and help companies compete more effectively.
IT departments streamline their daily operations using the automation and optimization capabilities offered by Rocket Software to get more out of existing resources and free staff to focus on efforts that drive new revenue. The company is currently owned by Court Square Capital Partners.
For more information about this news, visit www.rocketsoftware.com.