M&A Deal Summary

F5 Acquires Threat Stack

On September 20, 2021, F5 acquired internet software and services company Threat Stack from Eight Roads for 68M USD

Acquisition Highlights
  • This is F5’s 4th transaction in the Internet Software and Services sector.
  • This is F5’s 6th largest (disclosed) transaction.
  • This is F5’s 10th transaction in the United States.
  • This is F5’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2021-09-20
Target Threat Stack
Sector Internet Software and Services
Buyer(s) F5
Sellers(s) Eight Roads
Deal Type Add-on Acquisition
Deal Value 68M USD
Advisor(s) Boston Meridian Partners LLC (Financial)
Choate Hall & Stewart (Legal)

Target

Threat Stack

Boston, Massachusetts, United States
Threat Stack is involved in providing cloud security and compliance for infrastructure and applications, helping companies securely leverage the business benefits of the cloud with proactive risk identification and real-time threat detection across cloud workloads. The Threat Stack Cloud Security Platform delivers full-stack security observability across the cloud management console, host, container, orchestration, managed containers, and serverless layers. It provides the flexibility to consume telemetry within existing security workflows or manages it with clients through the Threat Stack Cloud SecOps Program to respond to security incidents and improve the organization’s cloud security posture over time. Threat Stack was founded in 2012 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

F5

Seattle, Washington, United States
Category Company
Founded 1996
Sector Information Technology
Employees6,696
Revenue 2.8B USD (2023)
DESCRIPTION
F5 Networks' corporate headquarters in Seattle, Washington.
F5 Networks' corporate headquarters in Seattle, Washington.

F5 is a provider of Application Delivery Networking (ADN) technology that optimizes the delivery of network-based applications and the security, performance, and availability of servers, data storage devices, and other network resources. The company's products collectively function as a dynamic control plane that simplifies the management of data center operations and the delivery of services across diverse data center resources. F5 was founded in 1996 and is based in Seattle, Washington.

DEAL STATS #
Overall 12 of 12
Sector (Internet Software and Services) 4 of 4
Type (Add-on Acquisition) 12 of 12
State (Massachusetts) 2 of 2
Country (United States) 10 of 10
Year (2021) 2 of 2
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 Volterra

Santa Clara, California, United States

Volterra, Inc. offers a platform for edge computing across multiple clouds, in which processing takes place near the locations of sensors and data for reduced latency.

Buy $500M

Seller(S) 1

SELLER

Eight Roads

Investor

Category Private Equity Firm
Founded 1969
Size Small
Type Sector Focused
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.

DEAL STATS #
Overall 85 of 99
Sector (Internet Software and Services) 17 of 21
Type (Add-on Acquisition) 37 of 45
State (Massachusetts) 20 of 26
Country (United States) 51 of 60
Year (2021) 18 of 25
Size (of disclosed) 17 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 MineralTree

Waltham, Massachusetts, United States

MineralTree is a provider of accounts payable and payment automation solutions for middle-market businesses. More than 2,000 mid-market and mid-enterprise companies, as well as more than 25 financial institutions, rely on MineralTree to digitize and optimize the entire AP Automation and Payments process, preserving control over the complete invoice-to-payment workflow, improving vendor relationships, maximizing ROI, and transforming the finance function from a cost center to a profit center. MineralTree was founded in 2010 and is based in Waltham, Massachusetts.

Sell $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 Toast

Boston, Massachusetts, United States

Toast is a restaurant management platform. Toast powers successful restaurants of all sizes with a technology platform that combines restaurant POS, front of house, back of house and guest-facing technology with a diverse marketplace of third-party applications. Toast was founded in 2012 and is based in Boston, Massachusetts.

Sell -
Mergr

Product

Company

Legal