BUSINESS BRIEF

Detroit software maker
sold to firm for $2.5B

9/3/2014
BLADE STAFF
Thoma-Bravo-logo

DETROIT — Private equity firm Thoma Bravo will spend about $2.5 billion to buy Compuware Corp. and take the software developer private.

The companies said Tuesday that Compuware stock owners will receive about $10.92 for each share they own. That price includes mostly cash and some stock from Compuware spinoff Covisint.

It represents a premium of about 17 percent to the Detroit company’s Friday closing price.

Compuware said its board unanimously approved the deal and recommends shareholders vote for it as well.