Thoma Bravo has sold its portfolio company Network Instruments to JDS Uniphase for $200 million in cash. The sale is expected to close within 45 days.
Network Instruments provides network management services to medium-to-large enterprises and Global 2000 companies. The company supports numerous IT initiatives including unified communications, cloud, data center consolidation and virtualization. Network Instruments is based in Minnetonka, MN (www.networkinstruments.com).
“Network Instruments’ success story is a reflection of Thoma Bravo’s proven growth strategy in the network management space,” said Thoma Bravo managing partner Seth Boro. “Through the firm’s partnership with Network Instruments’ management, we built upon the company’s market-leading technology and customer base, supported new product introductions and accelerated revenue growth.”
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 and San Francisco (www.thomabravo.com).
“We have enjoyed a great working relationship with Thoma Bravo and the company has benefited from their guidance and insights,” said Douglas Smith, president, CEO and co-founder of Network Instruments. “Together we have continued to provide our networking IT customers with some of the top application and performance management solutions in the industry. The strategic partnership with Thoma Bravo has allowed us to take this next step in our growth and development and enabled us to continue delivering to our growing customer base.”
Kirkland & Ellis served as legal advisor and Credit Suisse served as financial advisor to Thoma Bravo.
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-11-13
