Thoma Bravo Grows Cybersecurity Portfolio with Bomgar Acquisition

Thoma Bravo LLC acquired Bomgar, a seller of secure access software for computer systems and devices, from TA Associates.

A.J. Rohde, a partner at Thoma Bravo, says the firm is partnering with Matt Dircks, Bomgar CEO, and the management team to expand the Atlanta-based company’s core remote access software, which has more than 10,000 customers in 80 countries.

San Francisco-based Thoma Bravo has funds with $16 billion in commitments, focusing on investing in application and infrastructure software, along with technology enabled services. Earlier in June, Thoma Bravo said it is buying Elemica, a provider of software for supply chain operating networks  and in a separate deal, Qlik Technologies Inc. (Nasdaq: QLIK), a developer of enterprise software that analyzes data for business patterns.

In 2015, the firm teamed up with Silver Lake Partners PE firm to buy SolarWinds Inc. (NYSE:SWI), developer of software for managing computer networks. Also in 2015, Hyland Software Inc. –a Thoma Bravo company-- acquired LawLogix Group Inc., developer of immigration software, from PNC Riverarch Capital and Akoya Capital Partners.

Other cybersecurity related companies in Thoma Bravo’s portfolio include Sailpoint Technologies of Austin, Texas; DigiCert Inc. of Lehi, Utah; and Landesk Software of Salt Lake City, Utah.

Recent cybersecurity acquisitions have included, in June, Accenture plc (NYSE: CAN) acquiring Maglan, a cybersecurity company, while announcing plans to set up a center in Israel to provide cybersecurity research and consulting services, similar to Accenture centers in Bangalore, India; Manila, Philippines; and Prague. In April, Cryptosoft, a data security company, acquired DeviceAuthority Inc., which provides authentication technology for Internet-of-things devices. In January FireEye Inc. (Nasdaq: FEYE), a cybersecurity firm, purchased competitor iSight Partners, which tracks cyber threats.

Terms of the Bomgar deal were not disclosed. Ropes & Gray LLP was legal adviser to Thoma Bravo on the transaction, with William Blair & Company LLC serving as Bomgar’s financial adviser and Kirkland & Ellis LLP as Bomgar’s legal adviser.

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