TAMPA, Fla. (FOX 13) - Tampa software company ConnectWise is about to make millionaires out of dozens and dozens of its employees.
ConnectWise, a business management software company, began 37 years ago in a spare bedroom in CEO Arnie Bellini's parent's Carrollwood Home. Today, it has more than 1,000 employees worldwide -- and it is about to make 70 of those employees millionaires.
“Microsoft created 50 millionaires when they public," Bellini told FOX 13. "One of my personal goals was to beat that. We did: 70 millionaires."
This week, the company announced it's being bought by Thoma Bravo, a Silicon Valley private equity firm. That deal is expected to create 300 new jobs and pay out $270 million to the ConnectWise employees, many of whom will top that 7-figure mark.
The company gives out restricted stocks to employees, making it a meritocracy.
“The concept of sharing the wealth and those who contributed benefit, that’s an age-old concept getting lost in society," Bellini said. "We're bringing it back."
So what will all those new millionaires do with their newfound wealth? Buy cars, fix roofs and even re-invest in the community.
“[One employee] is going to be fostering children who are being pulled out of dangerous situations,” said Chief Talent Officer Jen Locklear.
For Bellini, the deal, which is expected to be finalized Thursday, also has implications for the future of Tampa as a tech hub.
“It means technology is for real here; it means we are the new Silicon Valley,” he said.