Thoma Bravo Buys Security Company Crossbeam

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Private equity firm Thoma Bravo recently announced the acquisition of security vendor Crossbeam Systems. Financial terms of the deal were not disclosed.

"Known for its high-end X-Series hardware that supports software of major security vendors -- among them Check Point, McAfee, IBM, Imperva, Sophos and Trend Micro -- the company promotes itself as producing products for public and private cloud networks," writes Network World's Tim Greene.

"Thoma Bravo plans to keep Crossbeam's current management, led by CEO Mike Ruffolo, who said in [a] statement that the transaction would allow Crossbeam to pursue strategic alliances to develop additional products or potential acquisitions," writes Crain's Chicago Business' Lynne Marek. "Some of those new alliances could be with other companies owned by Thoma Bravo, which has made a practice of buying and building up companies in the technology and software security field."

"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," Thoma Bravo partner Seth Boro said in a statement. "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."