Minneapolis-based Calabrio, a workforce optimization software solution provider for call centers, recently announced its sale to Private Equity firm Thoma Bravo. The previous owner, KKR, paid around $200 million for the company in 2016 and has been able to grow the firm significantly since then. In fact, revenue doubled from $51.7 million in 2017 to $106 million in 2019.
More recently, the Company has seen increased demand for its product as Covid-19 has forced companies to transition their call centers to remote work. In a Minneapolis St. Paul Business Journal article, Carrigan Miller stated that Calabrio’s customers saw a 38% increase in call volume during the first few months of the pandemic.
Details surrounding the terms of the deal were not published, but the total purchase price is estimated to be over $1 billion.
Quazar Capital was not involved in the transaction.
Read the full article here: https://www.bizjournals.com/twincities/news/2021/03/23/calabrio-acquired-by-thoma-bravo.html
