RE: Change in control event at DigiCert

[Jeremy Rowley via dev-security-policy]

Thoma Bravo will no longer be involved once the deal happens.



From: Ryan Sleevi 
Sent: Thursday, July 18, 2019 3:30 PM
To: Jeremy Rowley 
Cc: mozilla-dev-security-policy 

Subject: Re: Change in control event at DigiCert







On Wed, Jul 17, 2019 at 8:09 PM Jeremy Rowley via dev-security-policy 
mailto:dev-security-policy@lists.mozilla.org> > wrote:

Just FYI, there is an upcoming change in control event that will happen at
DigiCert where TA and Clearlake will take equity ownership of the company.
TA is currently a minority shareholder in DigiCert. Details are posted here:
https://www.pehub.com/2019/07/clearlake-and-ta-to-invest-in-digicert/.
Operational personnel remain the same.  We're not sure when this will happen
exactly. Sometime later this year probably.



Let me know if you have any questions.



Jeremy,



Thanks for the disclosure here. To make sure it's clearer:

Thoma Bravo currently has a majority stake, from its 2015 acquisition of 
equity from TA. [1] At that time, TA remained a minority stakeholder.

Based on the announcement [2], TA and Clearlake are becoming equal partners - 
and, from what I understand, Thoma Bravo will no longer be a majority 
stakeholder.



What wasn't clear to me was, from the past tense usage within the 
announcements, where Thoma Bravo was remaining as a stakeholder. From the 
change in management, it seems there will be a new chairman (Jason Werlin, TA 
Associates) and a new member of the board (Hythem El-Nazer, TA) - it wasn't 
clear whether Thoma Bravo would still be involved.



I realize that discussing terms of such events are often fraught with 
complications in what can be said prior to the deal reaching approval and 
closing, but hopefully that's something that isn't too controversial or 
complicated.



[1] 
https://www.digicert.com/news/2015-08-26-thoma-bravo-majority-stake-in-digicert/

[2] 
https://www.thomabravo.com/media/clearlake-capital-group-and-ta-associates-to-make-a-strategic-growth-investment-in-digicert



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Re: Change in control event at DigiCert

[Ryan Sleevi via dev-security-policy]

On Wed, Jul 17, 2019 at 8:09 PM Jeremy Rowley via dev-security-policy <
dev-security-policy@lists.mozilla.org> wrote:

> Just FYI, there is an upcoming change in control event that will happen at
> DigiCert where TA and Clearlake will take equity ownership of the company.
> TA is currently a minority shareholder in DigiCert. Details are posted
> here:
> https://www.pehub.com/2019/07/clearlake-and-ta-to-invest-in-digicert/.
> Operational personnel remain the same.  We're not sure when this will
> happen
> exactly. Sometime later this year probably.
>
>
>
> Let me know if you have any questions.
>

Jeremy,

Thanks for the disclosure here. To make sure it's clearer:
Thoma Bravo currently has a majority stake, from its 2015 acquisition of
equity from TA. [1] At that time, TA remained a minority stakeholder.
Based on the announcement [2], TA and Clearlake are becoming equal partners
- and, from what I understand, Thoma Bravo will no longer be a majority
stakeholder.

What wasn't clear to me was, from the past tense usage within the
announcements, where Thoma Bravo was remaining as a stakeholder. From the
change in management, it seems there will be a new chairman (Jason Werlin,
TA Associates) and a new member of the board (Hythem El-Nazer, TA) - it
wasn't clear whether Thoma Bravo would still be involved.

I realize that discussing terms of such events are often fraught with
complications in what can be said prior to the deal reaching approval and
closing, but hopefully that's something that isn't too controversial or
complicated.

[1]
https://www.digicert.com/news/2015-08-26-thoma-bravo-majority-stake-in-digicert/
[2]
https://www.thomabravo.com/media/clearlake-capital-group-and-ta-associates-to-make-a-strategic-growth-investment-in-digicert
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