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Thoma Bravo expands cybersecurity reach with $1.34 bln Magnet Forensics deal | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


Jan 20 (Reuters) – Thoma Bravo will buy Canadian software firm Magnet Forensics Inc (MAGT.TO) in a C$1.8 billion ($1.34 billion) 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.

Thoma Bravo, with more than $120 billion 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.

($1 = 1.3415 Canadian dollars)

Reporting by Chavi Mehta and Eva Mathews in Bengaluru; Editing by Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles.

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