H.I.G. Capital and Thoma Bravo have signed a definitive agreement to acquire the CompTIA brand and IT certification and training business and products of. Following the closing of the transaction, CompTIA will operate as a for-profit company under H.I.G. and Thoma Bravo’s ownership. Its existing membership-based, 501(c)(6) nonprofit organization will be rebranded and governed by the same voluntary board to continue its mission of service to the IT industry.
In a press statement, Todd Thibodeaux, president and CEO at CompTIA, said, “We are thrilled to be joining forces with two leading, experienced investors in the technology space, whose expertise and resources will allow us to expand our impact on the global IT industry. Through this transaction, we will be well-positioned to accelerate and expand the rollout of products and services to train the highly skilled workers of the future, and further strengthen our reputation across the industry as the leading provider of certifications and trainings.”
“The technology landscape is evolving quickly, and it is more important than ever that IT professionals have the skills needed to solve not only today’s challenges, but also those expected to emerge in the future,” said A.J. Rohde, senior partner at Thoma Bravo. “We view our investment in CompTIA as an important opportunity to capitalize on this growing need while investing in the development of the industry as a whole.”
Thoma Bravo’s investment portfolio includes IT management platform companies ConnectWise, N-able, and SolarWinds; cybersecurity companies Proofpoint, SonicWall, and Sophos; and many more.
“We are delighted to partner with Todd and the rest of the CompTIA team,” said Matthew Robinson, managing director at H.I.G., in a press statement. “We look forward to embarking together with management on CompTIA’s next phase of growth as a business fully dedicated to advancing the careers of IT professionals globally.”
In a LinkedIn post about the CompTIA acquisition, CompTIA Chief Community Officer MJ Shoer wrote, “The CompTIA brand, certification, and training products and services will continue to expand and grow under their new ownership, accelerating the important impact those products and services have on the industry to grow awareness of careers in tech and bring more people into the tech workforce. CompTIA certifications will continue to be ANSI accredited and vendor-neutral, maintaining the integrity and value they have always held.”
Impact For Members
In his post, Shoer stressed that “the non-profit Association is NOT being acquired by private equity. … The mission will be the same, but our reach and impact will grow for the benefit of all our members. Instead of revenue from the sale of certification products driving the organization, an endowment created from the proceeds of the sale will fund the association’s annual budget.”
He added that the Cybersecurity Trustmark and all existing member benefits and programs will remain the same, and the rebranded organization will increase its charitable giving, “focusing on philanthropic opportunities that will help our industry and society.”
Shoer concluded, “We have the opportunity to reimagine our impact on the IT Channel and society as a whole, and we welcome everyone to engage with us as we grow our impact for the benefit of all.”
How MSP Members Are Reacting
MSP Success reached out to some MSP business owners and CompTIA members for their reaction to the acquisition and splitting off of the nonprofit side of organization.
“As I am learning of the purchase/split of CompTIA, I am optimistic that the organization that I have relied on will still be there and will continue to be a resource for Pileus Technologies and other members,” says John Douglass, president and CEO of the Wichita, Kansas-based MSP. “As more details come out, I will be watching for changes that may affect us, such as the training and certifications that we use to train our technicians. There is a ton of M&A happening, so I am not surprised to hear the news of CompTIA and am looking forward to the future.”
Corey Kirkendoll, president and CEO of 5K Technical Services, an MSP in Allen, Texas, had this to say: “This is an intriguing move that could become one of the biggest developments in the industry. I’m eager to see how it impacts the MSP landscape, as CompTIA is widely respected and relied upon as a community leader. I see potential positives in bringing more funding and resources to the space, which could benefit the communities.”
He adds, “However, there’s always some concern when private equity firms enter the picture, as it may push them toward a more vendor-specific direction, especially since the acquiring firms already have a significant presence in the MSP space. I’m optimistic, but it will be interesting to see how it unfolds. Let the good times roll!”
“CompTIA has always had a bit of a split personality, both internally and externally,” says Bob Coppedge, CEO of Simplex-IT, an MSP in Stow, Ohio. “The optimistic part of me hopes that the association (the nonprofit side) will be able to better communicate their mission and resources to the entire IT industry, instead of being ‘those A+ folks.’”
On the other hand, he says, “A pessimistic view would be a profit-driven strategy behind the “new” CompTIA to define the requirements and placements of both existing and new certifications (and training tools). A for-profit company might take advantage of their placement to favor products and brands that they own.”
Either way, Coppedge says, “We will have a new association arising from this process, with both the funding and opportunity to establish themselves as a truly independent, non-vendor aligned, nonprofit organization looking to bring (and maintain) security, stability, and productivity to an industry that desperately needs it. I can’t wait to get a pair of socks from them. Or a T-shirt. That’d be cool.”
This is a developing story. Check back for more reactions.
