Thoma Bravo is planning to divest Raptor Technologies, its Houston-based school safety software platform, in a deal that could fetch more than $2bn, according to Reuters.

The private equity firm has engaged JPMorgan to advise on the process, which is expected to begin later this year. Raptor currently generates over $80m in EBITDA and supports approximately 60,000 schools in 55 countries with digital solutions designed for crisis prevention, emergency response, recovery, and safe student movement.

Raptor’s role has grown increasingly critical as U.S. schools grapple with rising safety concerns. In 2024, 336 school-based incidents were recorded across the U.S., only slightly below the 2023 peak of 351, according to the K-12 School Shooting Database.

The potential sale highlights Thoma Bravo’s continued focus on monetising software assets from its portfolio of more than 70 companies. The firm, one of the largest technology investors globally, has been active in scaling mission-critical platforms across education, healthcare, and security.

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