TPG, Thoma Bravo Express Takeover Interest For This Cloud Application Provider

Workiva Inc WK, a cloud application provider for reporting and compliance, attracted takeover interest from private equity firms.
Thoma Bravo and TPG are among firms that have held financing discussions with direct lenders to support a potential transaction, Bloomberg reports.
Workiva, led by CEO Martin Vanderploeg, had a market valuation of about $3.5 billion before reports of the takeover interest.
In August, Workiva reported second-quarter revenue growth of 24.6% to $131.5 million, beating the consensus of $126.1 million. Non-GAAP EPS loss of $(0.17) beat the consensus loss of $(0.26).
Subscription and support revenue contributed $113.4 million, up 24.3%. Professional services revenue was $18.2 million, an increase of 26.5%.
Recently, Zendesk, Inc ZEN shareholders approved a $10.2 billion planned acquisition of the software maker by a group of private equity firms led by Hellman & Friedman and Permira.
In August, Vista Equity Partners agreed to acquire Avalara, Inc AVLR in an all-cash transaction valued at $8.4 billion.
Price Action: WK shares closed higher by 17.64% at $76.15 on Wednesday.