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Thoma Bravo to Acquire Secure Business Collaboration Firm Exostar

Private equity investment company Thoma Bravo on Tuesday announced its intention to acquire secure business collaboration solutions provider Exostar, reportedly for roughly $100 million.

Private equity investment company Thoma Bravo on Tuesday announced its intention to acquire secure business collaboration solutions provider Exostar, reportedly for roughly $100 million.

Exostar provides supply chain collaboration and management, identity access management, risk management, and secure collaboration solutions for highly regulated industries such as healthcare, aerospace and defense, and life sciences. It was created as a joint venture between companies such as BAE Systems, Lockheed Martin, Boeing, Raytheon, Rolls-Royce and Merck. The company says its products have been used by over 150,000 organizations across 150 countries.

Thoma Bravo, which described the deal as a “strategic growth investment,” hopes to help Exostar accelerate growth and expand its customer base. Specifically, the investment company says it wants to combine its expertise in enterprise software solutions with Exostar’s current management to expand capabilities, especially when it comes to cybersecurity.

While financial terms of the deal were not officially disclosed, the Wall Street Journal learned from people familiar with the acquisition that it has been valued at approximately $100 million.

“Our corporate vision remains unchanged…to be a trusted, innovative leader in secure business collaboration for highly-regulated industries. Thoma Bravo’s strategic investment positions us to more rapidly expand our community and deliver the digital trust that must exist between an enterprise and its suppliers, customers and partners,” said Richard Addi, president and CEO of Exostar.

“This transaction reflects the logical next step in our company’s evolution. We can leverage Thoma Bravo’s deep technology and security experience to take full advantage of our unique market position. Together, we plan to accelerate time-to-market for the Exostar suite of solutions that enable global enterprises to execute their mission-critical supply chain and drug development initiatives,” Addi added.

Thoma Bravo, which focuses on tech services, has acquired several cybersecurity companies over the past years, including Sophos, Veracode and Imperva.

Related: Rate of Cybersecurity Venture Funding Not Sustainable, Investors Say

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Related: Impact of Coronavirus Outbreak on Early Stage Venture Investment in Cybersecurity

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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