Thoma Bravo plans IPO of computer software company MeridianLink -sources

George T. Taft

(Reuters) – Non-public fairness agency Thoma Bravo is gearing up for an initial public featuring of MeridianLink, which could price the U.S. monetary software program provider at extra than $3 billion, like debt, people today familiar with the matter claimed on Wednesday.

The preparations arrive as MeridianLink, whose software is made use of by banking institutions and credit unions to set up loans and deposit accounts, has benefited from the recognition of on the net banking and digital payments throughout the COVID-19 pandemic.

Thoma Bravo strategies to take MeridianLink public afterwards this year and has hired expense financial institutions to tackle the listing, the resources reported. It is achievable that MeridianLink would go public by merging with a particular goal acquisition vehicle (SPAC), instead than a classic IPO, two of the sources explained.

The resources requested anonymity due to the fact the make any difference is private. Thoma Bravo declined remark, even though MeridianLink did not respond to a request for comment.

Thoma Bravo obtained the Costa Mesa, California-dependent organization in 2018, and quickly merged it with units of Italian money services organization CRIF SpA to build a greater enterprise beneath the MeridianLink brand.

As component of that offer, CRIF turned a shareholder in MeridianLink, according to a statement at the time.

The pandemic has highlighted how money institutions require secure and productive electronic channels to serve clients, but lesser banking institutions ordinarily never have the methods to spend in developing these kinds of systems on their own, instead turning to 3rd-bash companies this kind of as MeridianLink.

Reporting by David French in New York Enhancing by Steve Orlofsky

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