PSG Purchases JAMS from Fortra in Landmark Deal
Deal News | Apr 22, 2025 | TA Associates
PSG, a growth equity firm specializing in software and technology services, alongside 2ndWave Software, has announced a definitive agreement to acquire JAMS, a leader in workload automation and job scheduling, from Fortra, a cybersecurity solutions provider backed by TA Associates. As a result of the acquisition, JAMS will form an independent company owned by PSG, 2ndWave Software, and its employees. This deal also includes the acquisition of Skybot, a complementary platform. Under new ownership, JAMS is expected to enhance its product development, expand market reach, and support global IT operations teams. CEO Peter Hegland will lead the company through these transformations with the backing of strong investors. PSG, along with 2ndWave Software, aims to leverage their expertise to accelerate JAMS' growth in the expanding automation landscape. The transaction, advised by Lincoln International and Goodwin Procter for Fortra, and Weil, Gotshal, & Manges for PSG and 2ndWave Software, is slated to close in upcoming weeks pending standard closing conditions.
Sectors
- Software and Technology Services
- Private Equity
- Cybersecurity
Geography
- United States – The companies involved, including PSG, 2ndWave Software, and Fortra, are based in the United States, making it the focal geography of the transaction.
Industry
- Software and Technology Services – This industry is relevant because JAMS and Skybot are software solutions dealing with workload automation and job scheduling, aimed at supporting IT operations.
- Private Equity – The private equity sector is central to the article, with PSG and 2ndWave Software making an acquisition to support the growth of JAMS as an independent company.
- Cybersecurity – Fortra, backed by TA Associates, is a key player in the cybersecurity sector, making the cybersecurity industry relevant to the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PSG | Buyer | Company | PSG is a growth equity firm specializing in software and technology services and is acquiring JAMS and Skybot. |
| 2ndWave Software | Partner/Buyer | Company | 2ndWave Software partners with enterprise software companies and is acquiring JAMS alongside PSG. |
| JAMS | Target Company | Company | JAMS is a leader in workload automation and job scheduling being acquired by PSG and 2ndWave Software. |
| Fortra | Vendor/Selling Company | Company | Fortra is a cybersecurity solutions provider selling JAMS and Skybot to PSG and 2ndWave Software. |
| TA Associates | Investor | Company | TA Associates is one of the investors backing Fortra, the company selling JAMS and Skybot. |
| Lincoln International LLC | Financial Advisor | Company | Lincoln International LLC served as financial advisor to Fortra and TA Associates. |
| Goodwin Procter LLP | Legal Counsel | Company | Goodwin Procter LLP served as legal counsel to Fortra and TA Associates. |
| Weil, Gotshal, & Manges LLP | Legal Counsel | Company | Weil, Gotshal, & Manges served as legal counsel to PSG and 2ndWave Software. |
| Peter Hegland | Incoming CEO | Person | Peter Hegland will serve as CEO of the newly independent company, JAMS. |
| Harry Taylor | Managing Director | Person | Harry Taylor is a Managing Director at TA Associates and commented on the acquisition. |
| Matt Reck | CEO of Fortra | Person | Matt Reck is the Chief Executive Officer of Fortra, the company selling JAMS and Skybot. |
| Rich Zajeski | Principal | Person | Rich Zajeski is a Principal at PSG and commented on the acquisition. |
| Bill Skarinka | Managing Director | Person | Bill Skarinka is a Managing Director at PSG and commented on the acquisition. |
| Dan Mayleben | CEO of 2ndWave Software | Person | Dan Mayleben is the CEO of 2ndWave Software and commented on the acquisition. |