Diversis Capital Further Invests in Tempo Software and Its Momentum by Acquiring Remaining Stake from Minority Holder Origo hf

LOS ANGELES, Oct. 6, 2022 /PRNewswire/ -- Diversis Capital, a Los Angeles based private equity firm, announced today that it has signed a definitive agreement to buy the remaining minority interest in Tempo Software, the leader in strategic roadmapping, time and capacity planning, and portfolio management, from Origo. Diversis initially acquired a majority interest in Tempo from Origo in 2018.

Tempo has been the number one time management solution in the Atlassian ecosystem for over a decade. With the acquisitions of Roadmunk and ALM Works, creators of Structure for Jira, Tempo's suite of products are positioned to deliver the most comprehensive program and portfolio management offering to the market. Tempo was named Atlassian Partner of the Year for Enterprise App Services in recognition of solutions that provide the security, reliability and scalability that support enterprise implementations of agile at scale and IT Service Management (ITSM).

Ron Nayot, Managing Partner of Diversis Capital, said, "Diversis initially invested in Tempo four years ago because we believed in the growth potential of an organization that was delivering high value to its customers and the Atlassian Ecosystem. Through our partnership with Origo, we've seen Tempo continue to deliver strong results and grow organically and inorganically. Now operating in more geographies, categories and markets, we're excited to work with Mark Lorion, Tempo's CEO, and the entire Tempo team to drive the next phase of growth as the primary owners of Tempo Software."

Jón Björnsson, CEO, Origo, said "The sale of a majority stake in Tempo to Diversis Capital in 2018 turned out to be a very good decision for Origo and exceeded expectations. Diversis partnered closely with me, as well as Origo and Tempo leadership, to accomplish this major milestone. We wish the staff of Tempo and Diversis all the best and continued growth."

Mark Lorion, CEO, Tempo Software, commented, "Since the early days of Tempo's founding and through our expansion on a global scale, Origo has been a valued business partner. I'm grateful for Origo's support and excited about the additional investment by Diversis to accelerate the next phase of Tempo's growth and product innovation. We are changing the way teams plan and execute their work, so everyone across an organization is working in alignment on the most impactful opportunities for their teams, customers, and business."

Founded in 2013, Diversis is a software and technology focused private equity fund with $1bn+ of capital raised across its funds that invests in lower middle-market companies, targeting situations where it can add unique value in helping a company reach the next level. With a collaborative approach to investing, its Operating Partners and Strategic Advisors work alongside management teams to help build successful organizations positioned for long-term growth. To learn more, visit www.diversis.com.

Tempo Software offers integrated applications for time management, resource planning, budget management, strategic roadmapping, and program management for software engineering and product management teams. Our customers gain an unrivaled understanding of time and effort, and they improve how their teams plan and manage their work. This provides an aligned understanding of and plan for how time – the most precious, and finite resource – is optimized. Tempo Software is seamlessly integrated across popular DevOps tools and a natural and automated part of users' workflows.

Headquartered in Boston, Tempo Software is one of the largest and most successful companies in the Atlassian ecosystem. With one out of three Fortune 500 companies choosing Tempo, the company has more than 29,000 customers across a range of industries in more than 100 countries. It works with hundreds of partners around the world, offering resale, training, and consultancy in local languages. To learn more about Tempo, visit www.tempo.io

Contacts:
For Diversis
Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334

For Tempo
[email protected]

SOURCE Diversis Capital Management, LP