AxiomSL, a provider of cloud-enabled risk management and regulatory solutions, has agreed to allow Thoma Bravo, a private equity investment firm, to acquire a controlling interest in it.
The transaction is expected to close by the end of the year, subject to customary closing conditions. Financial terms were not disclosed.
Founded by CEO Alexander Tsigutkin and CTO Vladimir Etkin in 1991, AxiomSL serves its clients, which includes banking, investment management, broker-dealers and commodity trading institutions, through ControllerView, an intelligent data management and analytics platform.
AxiomSL's platform provides cloud-based, risk management and regulatory solutions, which include over 5,000 risk and regulatory reports across 55 jurisdictions and 110 regulators.
Its regulatory solution covers multiple reporting frameworks including the Securities Financing Transactions Regulation and the European Market Infrastructure Regulation.
Upon closing, Thoma Bravo says it plans to use its “deep expertise in enterprise software, proven operational capabilities and prior experience in complex financial technology markets” to partner with AxiomSL's management team to grow AxiomSL's customer base and drive further innovation for critical risk management and regulatory solutions.
Tsigutkin says: "Thoma Bravo has a proven track record of accelerating innovation and growth at leading software companies, as well as a strong appreciation for our values of client success, integrity with accountability, excellence in innovation, diversity of perspectives and internal and external collaboration.
“AxiomSL's success is a testament to our partnership with the financial industry, and our growth is due in no small part to the contributions of Technology Crossover Ventures (TCV), who has been a critical partner for AxiomSL for the past three years as we grew the franchise at a record pace."
Brian Jaffee, a principal at Thoma Bravo, adds: "We've been following AxiomSL's success for many years and couldn't be more excited to partner with Alex and his team for this next phase of growth."
“The company's software solutions allow the world's most complex financial institutions to manage vast amounts of critical data from many different sources and facilitate the highly complex process of risk and regulatory reporting across the globe.”
Evercore is acting as financial advisor and Weil, Gotshal & Manges is serving as legal advisor to AxiomSL.
Kirkland & Ellis is serving as the legal advisor to Thoma Bravo.
Image: AxiomSL 