M&A Deal Summary

Belden Acquires Tripwire

On January 5, 2015, Belden acquired software company Tripwire from Thoma Bravo for 710M USD

Acquisition Highlights
  • This is Belden’s 1st transaction in the Software sector.
  • This is Belden’s largest (disclosed) transaction.
  • This is Belden’s 6th transaction in the United States.
  • This is Belden’s 1st transaction in Oregon.
Investment Fate
  • Tripwire was divested to a consortium of strategic buyers in 2022.

M&A Deal Summary
Date 2015-01-05
Target Tripwire
Sector Software
Buyer(s) Belden
Sellers(s) Thoma Bravo
Deal Type Add-on Acquisition
Deal Value 710M USD

Target

Tripwire

Portland, Oregon, United States
Tripwire provides automated compliance and security management software solutions to enterprises and governments worldwide. The company’s solutions enable customers to secure highly sensitive data within their IT environments by detecting malicious changes made to hardware and software systems housing the data and remediating the change to ensure IT compliance is maintained. Tripwire is based in Portland, Oregon.

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Buyer(S) 1

Buyer

Belden

St. Louis, Missouri, United States
Category Company
Founded 1902
Sector Technology Hardware
Employees8,000
Revenue 2.5B USD (2023)
DESCRIPTION

Belden designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. Belden was incorporated in 1902 and is headquartered in St. Louis, Missouri.

DEAL STATS #
Overall 13 of 17
Sector (Software) 1 of 1
Type (Add-on Acquisition) 10 of 14
State (Oregon) 1 of 1
Country (United States) 6 of 8
Year (2015) 1 of 1
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Grass Valley

San Francisco, California, United States

Grass Valley is a provider of full range of products and services supporting many of the world's most high-profile television events, Grass Valley offers the most comprehensive portfolio of flexible and cost-effective digital technologies and systems available.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Thinklogical

Milford, Connecticut, United States

Thinklogical LLC is a global manufacturer of secure, high-performance KVM signal extension and switching systems for video-rich applications. Thinklogical offers the most robust line of uncompressed, high-bandwidth signal stream and flexible switching options, making the Company's solutions ideal for high-availability applications such as command and control, intelligence, broadcast control rooms and post-production environments.

Buy -

Seller(S) 1

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 21 of 79
Sector (Software) 10 of 33
Type (Add-on Acquisition) 13 of 36
State (Oregon) 1 of 1
Country (United States) 21 of 73
Year (2015) 1 of 7
Size (of disclosed) 17 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 UserZoom

Los Gatos, California, United States

UserZoom is a Digital User Experience Insights System through its platform, participant recruitment engine and professional services provide the in-depth quantitative and qualitative insights essential to testing, measuring, and improving digital product experiences at speed and scale throughout the product development lifecycle. It helps businesses connect insights to their most important performance metrics, so they can make confident, customer-focused decisions that drive growth and deliver competitive advantage. With operations in North America and Europe, the company helps global brands such as Google, Oracle, Aetna, Santander, News UK, and half of the Fortune 100 raise the bar for an outstanding digital experience. UserZoom was founded in 2007 and is based in Los Gatos, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Telestream

Nevada City, California, United States

Telestream is a provider of digital video software and workflow solutions that allow consumers and businesses to transform video content on the desktop and across the enterprise. Telestream was founded in 1998 and is based in Nevada City, California.

Sell -
Mergr

Product

Company

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