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Private Equity Firm Buys iTera

Private equity firm Thoma Cressey Equity Partners announced today that it has acquired Salt Lake City, Utah-based iTera, and will combine the firm with California-based Vision Solutions. Financial terms were not disclosed. Thoma Cressey said that the acquisition will create a new firm focused on high availability solutions for IBM's System i products. iTera develops products for System i that provide high availability and continuous availability for software. Thoma Cressey said the new firm will operate as Vision Solutions, and continue to maintain operations in Salt Lake.