Private equity firm Thoma Bravo announced on Thursday that it will acquire a majority interest in Security Information and Event Management (SIEM) solutions vendor LogRhythm.
Terms of the deal, which is expected to close in Q3 2018, were not disclosed.
Founded in 2003, LogRhythm is veteran security firm that has raised more than $110 Million in funding, and has more than 2,500 customers around the world that use its platform that combines traditional SIEM capabilities with user and entity behavior analytics (UEBA).
“Thoma Bravo has long admired the work of Andy, Chris, Phil Villella and the entire LogRhythm team,” said Seth Boro, a managing partner at Thoma Bravo. “The company’s impressive track record of growth shows the continued demand for LogRhythm’s differentiated offerings. With Thoma Bravo’s investment, we look to further accelerate product innovation and drive continued customer success.”
Thoma Bravo has made several large investments in the cybersecurity space over the years. Its portfolio of investments include SonicWall, SailPoint, Hyland Software, Deltek, Blue Coat Systems, Imprivata, Bomgar, Barracuda Networks, Compuware and SolarWinds.