QAD Completes Sale to Thoma Bravo in $2 Billion Take-Private Transaction

Paul, Weiss advised QAD Inc.’s Special Committee in the $2 billion all-cash sale of QAD to private equity firm Thoma Bravo. Santa Barbara-based QAD is a leading provider of next-generation manufacturing and supply chain solutions in the cloud. Under the terms of the deal, QAD shareholders will receive $87.50 per share of Class A common stock or Class B common stock in cash. QAD’s common stock has ceased trading and QAD will become a private company.

The QAD Board of Directors formed a Special Committee composed entirely of independent directors to negotiate the transaction with the assistance of independent financial and legal advisors. Following the Special Committee’s unanimous recommendation, members of the QAD Board unanimously approved the merger agreement with Thoma Bravo, and recommended that QAD shareholders adopt and approve the merger agreement and the transaction.

The Paul, Weiss team included, among others, corporate partners Jeffrey Marell and Krishna Veeraraghavan and counsel David Curtiss, Rosita Lee, Jason Tyler and Patricia Vaz de Almeida; executive compensation partner Jean McLoughlin and counsel Meghan Fox; litigation partners Jaren Janghorbani and Geoffrey Chepiga and counsel Jacobus Schutte, Jared Nagley, Steven Herzog and Peter Jaffe; tax partner Brian Krause; intellectual property partner Jonathan Ashtor and counsel Elana Bensoul; antitrust counsel Yuni Sobel.