Thoma Bravo to Buy Magnet Forensics in Billion-Dollar Deal

By Orbit Brain January 23, 2023 0 247 views

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Thoma Bravo to Purchase Magnet Forensics in Billion-Greenback Deal

By Ryan Naraine on January 23, 2023

Thoma Bravo’s buying spree within the cybersecurity lane is displaying no indicators of slowing down.

The non-public fairness large has introduced plans to spend $1.Three billion to amass Canadian software program agency Magnet Forensics, a deal that expands Thoma Bravo’s push into the profitable cybersecurity class.

Magnet Forensics, primarily based in Waterloo, markets a collection of instruments within the digital forensics and incident response area to assist companies hunt for early indicators of knowledge breaches.

Thoma Bravo stated its newly created Morpheus unit will purchase Magnet Forensics for about $1.Three billion and take the corporate non-public.

As soon as the deal closes, Thoma Bravo stated the plan is to mix Magnet Forensics with Grayshift, a 3rd firm that additionally sells digital forensics software program and instruments. Thoma Bravo has majority management of Grayshift after a strategic funding final July.

With the 2 mixed entities, Thoma Bravo’s ambition is to create “a robust end-to-end digital investigations platform” for public security businesses to work on cybercrime circumstances.

Grayshift markets cellular system digital forensics instruments to assist with lawful entry and extraction.

The transaction is anticipated to shut by the second quarter this yr.

Over current years, Thoma Bravo has purchased into the cybersecurity enterprise in a giant approach, shelling out billions to amass Ping Id ($2.eight billion deal), SailPoint ($6.9 billion all-cash) and Sophos ($3.9 billion).

The non-public fairness agency’s portfolio additionally contains Imperva, LogRhythm, AppOmni, Proofpoint and Venafi.

Associated: KKR to Purchase Barracuda Networks From Thoma Bravo

Associated: Thoma Bravo to Purchase Ping Id for $2.eight Billion

Associated: Thoma Bravo to Take SailPoint Non-public in $6.9B All-Money Deal

Associated: Thoma Bravo to Purchase Sophos for $3.9 Billion

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