Canada Settles Challenge To PE Firm's Software Buy

Law360 (August 20, 2019, 7:33 PM EDT) -- Canada’s competition enforcer on Tuesday dropped its challenge of Thoma Bravo LLC’s recent purchase of oil and gas software provider Aucerna, after the private equity firm agreed to sell another portfolio company’s competing product.

The Competition Bureau filed its challenge to the Aucerna deal in June, saying the move would give the firm control of two leading software products used by medium-size and large producers in the country for oil and gas reserve management. Before the purchase, Thoma Bravo had already owned Calgary-based Aucerna’s closest rival, Quorum.

In order to alleviate the concerns raised by the bureau, the firm has agreed...

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