The Surrey, B.C.-based data-solutions company and the Baltimore-based growth-equity firm did not disclose the financial details of the deal. (The Logic)
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The Surrey, B.C.-based data-solutions company and the Baltimore-based growth-equity firm did not disclose the financial details of the deal. (The Logic)
Talking point: Safe Software co-founder Dale Lutz cashed out his 50 per cent stake in the company, The Globe and Mail reported, which was likely worth more than $200 million. Lutz will retire as co-CEO while co-founder Don Murray will remain CEO. JMI, which participated in a sale process against 17 other bidders, agreed to terms that included allowing Murray to be a majority shareholder and not pushing for an initial public offering. Safe Software has been profitable since it was founded in 1993. It now serves more than 20,000 clients in over 120 countries. JMI has backed other Canadian software firms, including PointClickCare and Jane.
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