Thoma Bravo has acquired Crossbeam Systems, a provider of network security services. Crossbeam’s current senior management team will continue to manage the company.
Crossbeam Systems provides network security services 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. The company is headquartered in Boxborough, MA and has more than 200 employees in the United States, Europe, Latin America and Asia (www.crossbeam.com).
“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.”
Thoma Bravo provides equity and strategic support to management teams building growing companies. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo currently manages approximately $4 billion of equity capital. The firm was founded in 1981 and has offices in Chicago, IL and San Francisco, CA (www.thomabravo.com).
“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.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-12-12
