Private equity firm Thoma Bravo is considering sale of Apryse, a document processing software provider, potentially valuing it at more than $3bn, reported Reuters citing people familiar with the matter.

The company has garnered interest from various buyers, particularly other private equity firms.

Apryse sale process is being facilitated by investment bankers from Lazard, sources told the news agency.

Thoma Bravo may opt to keep a minority stake in the company post-sale, but sources have indicated that a final sale is not certain and have requested anonymity due to the private nature of the discussions.

Requests for comments from Thoma Bravo were declined, and there were no responses from Apryse or Lazard.

Based in Denver, Colorado, Apryse specialises in document processing technology for mobile and computer applications, enabling developers to create, edit, convert digital documents, and integrate these functions into their own software.

The firm boasts notable clients such as Novartis, Wells Fargo, and DocuSign.

The company was previously known as PDFTron before being rebranded to Apryse two years after its acquisition by Thoma Bravo in 2021.

Since the acquisition by Thoma Bravo, Apryse has made nine add-on acquisitions to broaden its functionality and global presence.

These acquisitions include the recently announced TallComponents, a digital document processor based in the Netherlands, and last year's purchase of AI-powered software company Lead Technologies.

Apryse generates more than $100m in EBITDA and has been growing at a rate of more than 20% annually.

Sources suggest that Apryse could be valued at a multiple of 30 times its EBITDA or more in any forthcoming transaction.

In 2024, Thoma Bravo agreed to acquire UK cybersecurity company Darktrace for $5bn (£3.99bn).

"Thoma Bravo considers sale of Apryse for more than $3bn" was originally created and published by Verdict, a GlobalData owned brand.

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