DETROIT (WXYZ) - Compuware Corporation has agreed to sell itself to the private equity investment firm Thoma Bravo, LLC in a deal that is valued at $2.5 billion.
The deal was announced in a news release at 9:30 a.m. It is expected to close in early 2015.
However, the deal is still contingent on the approval of shareholders and regulatory approval.
According to the release, the Compuware Board of Directors unanimously approved the agreement. They also recommend that shareholders approve the deal.
Once the deal is completed, Thoma Bravo will acquire all Compuware's outstanding stock and take the company private.
Based in Detroit, Compuware was founded by Peter Karmanos. He retired from the company in 2013.
Stay with 7 Action News and WXYZ.com for the latest on this developing story.