EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 07/12/2021

In electronic form on the EUR-Lex website under document number 32021M10517

EUROPEAN COMMISSION

Brussels, 07.12.2021 C(2021) 9313 final

PUBLIC VERSION

Permira Holdings Limited 320 Park Avenue, 28th Floor 10022 New York United States of America

Thoma Bravo L.P. 600 Montgomery St 94111 San Francisco, CA United States of America

Dear Sir or Madam,

1.On 9 November 2021, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Permira Holdings Limited (“Permira”, United Kingdom) and Thoma Bravo L.P. (“Thoma Bravo”, United States of America) acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of Motus Group LLC (“Motus”, United States of America), currently solely controlled by funds managed by Thoma Bravo, by way of purchase of shares.

The business activities of the undertakings concerned are:

 for Permira: a Guernsey registered private equity business engaged in the provision of investment management services to a number of investment funds

1OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3Publication in the Official Journal of the European Union No C 472, 23.11.2021, p. 8.

4Permira ultimately controls the Permira Europe II, Permira Europe III, Permira IV, Permira V, Permira VI, Permira VII, and Permira Growth Opportunities private equity funds.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

across the consumer, financial services, healthcare, industrial, and technology sectors. It also ultimately controls the Permira Debt Managers funds,

 for Thoma Bravo: a US private equity business providing equity and strategic support to experienced management teams and growing software and technology companies in sectors including infrastructure, finance, healthcare and cybersecurity,

 for Motus: a US enterprise application software business providing workforce expense management solutions to businesses through a unified, cloud-based software platform. These services assist the businesses to monitor, manage, and automate some of the administration behind the reimbursement of expenses incurred by their workforce.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

5OJ C 366, 14.12.2013, p. 5.

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