Thoma Bravo Acquires Crossbeam Systems, Inc.
Acquisition Marks Thoma Bravo’s 25th Portfolio Company Investment in the Software and Technology Sector
San Francisco – Thoma Bravo, LLC, a leading private equity investment firm, has acquired Crossbeam Systems, Inc., a global network security solutions leader. Financial details were not disclosed. Crossbeam’s current senior management team will continue to manage the company.
“Crossbeam is in a stronger-than-ever position to strengthen and expand our customer solutions,” said Mike Ruffolo, president and CEO of Crossbeam. “Thoma Bravo’s support and expertise in the software and technology industries will allow us to pursue new products and services through strategic initiatives and potential acquisitions to enhance our offerings.”
“Mike and his team have built a first-class network security company with a proven track record and are uniquely positioned to lead the industry,” said Seth Boro, partner at Thoma Bravo. “We look forward to working with Crossbeam’s management to build off of that reputation and help them accelerate their growth through the buy and build strategy we have followed successfully many times before.”
Headquartered in Boxborough, Mass., Crossbeam has more than 200 employees in the United States, Europe, Latin America and Asia. Best known for its innovative X-Series network security platform, the company provides security solutions to fixed and mobile operators such as Telefonica, BT, NTT Globe Telecom, Cell C and enterprise customers such as Fiserv, Volkswagen Group and Motel 6.
About Crossbeam Systems, Inc.
Crossbeam Systems®, Inc. offers a proven approach to deploying network security that meets the extreme performance, scalability and reliability demands of large enterprises, service providers and government agencies. Its leading X-Series security platform offers an open, high-performance architecture that easily provisions and scales multiple best-in-class security applications to meet the ever-changing threat landscape. Companies rely on Crossbeam to intelligently manage risk, accelerate and maintain compliance, and protect their businesses from evolving threats. Crossbeam is headquartered in Boxborough, Mass., and has offices in Europe, Latin America and Asia Pacific. More information is available at www.crossbeam.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm has continued to apply the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo invests across multiple industries, with a particular focus in enterprise and infrastructure software and financial and business services, and works in partnership with management to implement its operating and consolidation expertise to build long-term value. The firm currently manages a series of private equity funds representing almost $4 billion of equity commitments. In software, Thoma Bravo has completed 54 add-on acquisitions across 25 platform companies with total annual earnings of approximately $1 billion. For more information, visit www.thomabravo.com.
Information Source: WEBWIRE