Thoma Bravo will buy Canadian software firm Magnet Forensics in a $1.34bn deal, the company said on Friday, as the private equity firm bolsters its cybersecurity portfolio to tap into rising demand.
A unit of Thoma Bravo will offer C$44.25 per subordinate voting share, Magnet said on Friday, representing a premium of 15.4% to the stock’s last close.
Magnet Forensics, founded in 2010, makes software that is used by defense forces and businesses to investigate cybersecurity threats.
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Thoma Bravo, with more than $120bn in assets under management, intends to combine the company with its portfolio company Grayshift, a digital forensics firm.
Software-focused Thoma Bravo is a serial acquirer. The firm agreed to buy cybersecurity firm SailPoint, Ping Identity Holding, Sailpoint Technologies, ForgeRock and Coupa Software in 2022.
Source: Reuters
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