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Thomas H Lee Partners buys into asset finance software business Odessa

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Thomas H Lee Partners has picked up asset finance software specialist Odessa to build out the business.

Odessa says its architecture and design approach set it apart from existing equipment leasing and auto finance technologies, by unifying siloed business teams and stakeholders to create a single system of insights, orchestration, and extensibility.

A statement from THL head of financial services Ganesh Rao and firm director Mark Bean said, “As the leader in asset finance technology, Odessa is ideally positioned to drive further customer-focused innovation and to unlock additional market opportunities.

“We are confident that they have the vision and track record to disrupt and define the future of financial services technology, and we are excited to partner with them to support this growth trajectory.”

THL invests in automation companies through its flagship private equity fund and a dedicated automation fund.

The firm struck a $900m final close for its debut fund dedicated to deals in automation last November.

The firm said it would use THL Automation Fund to back automation businesses including technology product, software and services companies that aim to enhance productivity.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/thomas-h-lee-partners-buys-into-asset-finance-software-business-odessa.html

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