Private equity investment firm Thoma Bravo LLC is set to purchase Keynote Systems Inc. (Nasdaq: KEYN), a provider of cloud-based tools for testing mobile applications and websites, in a take-private deal valued at roughly $395 million.

For Thoma Bravo, the all-cash acquisition is meant to help the firm maintain an edge in the cloud computing space. The Chicago firm cited consumers’ increasing use of mobile devices as incentive for acquiring Keynote.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.