Gemspring Capital Sells OPEXUS to Thoma Bravo

What's Happening: Gemspring Capital has completed the sale of OPEXUS, a leading provider of government process management software, to an affiliate of Thoma Bravo. As part of the deal, OPEXUS will merge with Casepoint, a data discovery technology company. Gemspring will retain a minority position in the newly combined entity.

The Key Moves:

• OPEXUS, backed by Gemspring since 2021, is a leader in FedRAMP-certified government process management software.

• The merger with Casepoint aims to create a more comprehensive platform for government and commercial customers.

• Gemspring will maintain a minority stake in the combined company post-transaction.

By The Numbers :

• OPEXUS serves over 200 public sector customers and 100,000 government users.

• The company has more than 30 years of experience supporting public institutions.

• Gemspring Capital has $3.8 billion of capital under management.

Key Quotes:

• "Gemspring has been an invaluable partner to OPEXUS, helping us scale our offerings and strengthen our market position," said OPEXUS CEO Howard Langsam.

• "Working alongside the OPEXUS team during this period of significant growth and transformation has been an exciting journey," said Aron Grossman, Managing Director at Gemspring.

• "We look forward to supporting the newly combined business and partnering with management and Thoma Bravo in the next chapter of growth and innovation," added Grossman.

The Bottom Line: The sale of OPEXUS to Thoma Bravo marks a significant exit for Gemspring Capital, while creating a potentially stronger combined entity in the government software sector. The deal highlights the continued interest in GovTech companies and the potential for value creation through strategic mergers in the space.

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