Already a global player in the tech world, Ridgeland based Bomgar is getting ready to grow. Its $50 million in annual revenue attracted the attention of TA Associates.
The Boston private equity firm has bought a majority interest in Joel Bomgar's 11-year-old software company. The investment means the company which employs more than 200 worldwide, will have opportunities in new markets.
"They're all about finding companies that have reached a certain scale," Bomgar explained. "In our case $50 million in annual revenue, but to have tons of upside left, and that's what they're looking for."
Bomgar has provided clients with software that allows remote IT solutions since 2003. Bomgar's software is used by more than 8,000 companies and organizations in 65 countries. Bomgar said the investment from TA is further validation of the company's success.
"When you get somebody with a global reach like TA Associates that says, 'wow, you've (Bomgar) really built a gem here and we want to take that," Bomgar said, "Huge vote of confidence for Mississippi as-well-as for Bomgar."
Bomgar himself, will step aside as CEO, but will still be involved with the company he founded as executive chairman of the board. Will Dierks will takeover as CEO of Bomgar.