Things have come full circle for Vision Solutions Inc., a maker of data management software.
Late last month, Chicago private equity firm Thoma Cressey Equity Partners Inc. bought Vision Solutions for $63 million.
Thoma Cressey also acquired Salt Lake City’s iTera Inc. and is folding the software maker into Vision Solutions.
As part of the deal, Vision Solutions formally has its center of power back in Irvine, where the company got its start and maintained operations after becoming part of South Africa’s Idion Technology Holdings Ltd. in 2000.
Vision’s software runs on iSeries servers developed by IBM Corp. The software backs up data and keeps servers running even during maintenance or a disaster.
The combined company is set to have yearly sales of about $55 million, $40 million from Vision and the rest from iTera.
Vision employs 275 people worldwide, 155 of them in Irvine. It’s likely to add people in Irvine and Salt Lake City, according to Chief Executive Nicolaas Vlok.
The company was the center of a takeover battle a few years back by Canada’s DataMirror Corp. The fight spanned two years and two continents.
DataMirror gave up trying to buy a majority stake in 2004.
For more on this story, see the Nov. 13 edition of the Business Journal.
