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Thursday, December 5, 2013

Thoma Bravo eyes sale of software vendors Hyland and LANDesk -sources, (NYSE: GS)

Private equity firm Thoma Bravo LLC is exploring a sale of two of its portfolio companies, Hyland Software Inc and LANDesk Software Inc, which could collectively be worth more than $2 billion, according to people familiar with the matter. Thoma Bravo is working with Goldman Sachs Group Inc to explore a sale of Hyland, which could be worth more than $1.2 billion based on annual earnings, before interest, tax, depreciation and amortization (EBITDA) of around $80 million, the people said.Separately, Thoma Bravo is exploring a sale of LANDesk that also has EBITDA of around $80 million and could fetch up to 10 times that amount, the people said.The people asked not to be identified because the sale processes are confidential. Thoma Bravo declined to comment, while Hyland, LANDesk and Goldman Sachs did not respond to requests for comment.Hyland provides enterprise content management software to corporate clients. Thoma Bravo acquired a 58 percent stake in the Westlake, Ohio-based company for $265 million in 2007, according to a press report posted on the takeover firm's website.

The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS fell by 1.86% or $-3.14/share to $165.56. In the past year, the shares have traded as low as $115.62 and as high as $171.58. On average, 3365140 shares of GS exchange hands on a given day and today's volume is recorded at 3566341.