Belden Buys PE-Backed Cybersecurity Co. Tripwire for $710M
Belden Inc. (NYSE: BDC) is buying Thoma Bravo-backed cybersecurity provider Tripwire for $710 million. The deal comes amid hacking scandals, most notably the piracy of upcoming movies from Sony Pictures, such as "Fury" and "Annie."
Portland, Oregon-based Tripwire provides advanced threat, security and compliance services to companies. The company aims to help companies and government agencies detect, prevent and respond to security threats. Before the deal, in September, Belden and Tripwire began a joint initiative to try to improve infrastructure cybersecurity for manufacturing companies. The transaction was announced late Dec. 9 and is expected to close in the first quarter of 2015.
Belden plans to integrate Tripwire's technology into some of its products. The buyer, headquartered in St. Louis, provides signal transmission services and provides technology products to industrial, enterprise and broadcast customers.
Chicago-based private equity firm Thoma Bravo specializes in investing in fragmented industries. In September the firm agreed to pay $2.5 billion for Compuware Corp., and before that, in August, the firm agreed to invest in SailPoint. For more on Thoma Bravo, watch our video interview with founder and managing partner Carl Thoma, Carl Thoma Looks Back on Partnerships with Former American Tower Exec Steve Dodge and Others.
Ropes & Gray provided legal advice to Belden on the deal.
For more on potential acquisition targets in cybersecurity, see Hacked Sony Movies Highlight Opportunities for Buyers of Cybersecurity Firms.