US private equity company Thoma Bravo has acquired a majority stake in eDiscovery provider Casepoint and acquired Opexus from Gemspring Capital, simultaneously executing a merger of the two companies. Casepoint shareholders and Gemspring Capital will both retain minority positions in the combined company.
Opexus currently serves over 100,000 government users and 200 public institutions in the U.S. and Canada, providing purpose-built solutions for Freedom of Information Act (FOIA), audit, investigations, workforce management, and procurement teams. Its solutions help customers digitise complex government processes, approvals, and reporting, modernising their ability to respond to rapidly growing and increasingly challenging requests while adhering to the highest privacy and security standards.
Casepoint, meanwhile, which was founded in 2008 by chief technology officer Vishal Rajpara and chief operating officer Vipul Rajpara, has Department of Defense Impact Level 5 and 6 security certifications and is used by dozens of federal agencies. Its software is widely used by enterprise customers to manage data, mitigate risk, and effectively meet reporting and compliance obligations related to litigation, investigations, and Congressional inquiries.
It is anticipated that this strategic merger and Thoma Bravo’s backing will establish a more comprehensive and innovative process management and discovery platform for government and commercial customers in North America and accelerate the combined company’s growth. The combined company will be led by Opexus’ CEO Howard Langsam and Vishal Rajpara will serve on the executive leadership team. It will be headquartered in Washington, D.C. Casepoint’s CEO Haresh Bhungalia is stepping down as CEO and from a day-to-day operational role in the company.
“The combination of Opexus and Casepoint will create a unique company with the expanded scale and product suite required to meet the increasingly complex needs of their customers with the ultimate goal of making government and corporate workflow processes more efficient,” said Sam Yules, a vice president at Thoma Bravo. “We are looking forward to working with their teams to reach their full potential in this next chapter.”