Private equity firm completes deal for Majesco

Thoma Bravo, a California-based private equity firm, has completed its $594 million acquisition of Morristown-based cloud insurance software solutions business Majesco, the two announced this week.

The deal, first announced in July and then amended in August, Thoma Bravo will acquire all of Majesco’s common stock for $16 per share in cash. Majesco will become a privately-held company, with its stock ceasing to trade.

“We are very excited to have completed this transaction, which was a successful outcome not only for our shareholders, but also one that we expect will benefit our customers and partners, and provide new opportunities for our employees,” Majesco CEO Adam Elster said in a prepared statement.

Read more from ROI-NJ: