Thoma Cressey Bravo (TCB) and Macrovision Corporation have announced that an affiliate of TCB will acquire Macrovision's software business unit. Valued at approximately $200 million, the cash transaction gives TCB Macrovision's software delivery, licensing, compliance and installation products under the FLEXnet and InstallShield family of products.

The transaction is not subject to Macrovision stockholder approval.

"I believe Thoma Cressey Bravo will provide the focus and resources needed to continue growing the software business," stated Fred Amoroso, president and CEO of Macrovision.

The transaction will result in a stand-alone company focused on providing solutions that help simplify the business relationship between software producers and enterprises. Mark Bishof, currently Macrovision's executive vice president and general manager of the software unit, will become chief executive of the company.

The deal is forecaste to close by 1 April with an approval from antitrust regulators.

Macrovision currently holds approximately 285 issued or pending United States patents and more than 1,250 issued or pending international patents. It also continues to increase its patent portfolio with new and innovative technologies in related fields. Thoma Cressey Bravo on the other hand has completed 35 acquisitions across 11 platform companies with total annual earnings of approximately $500 million in the software industry.