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M&A Deal Summary

Thoma Bravo Acquires Magnet Forensics

On January 20, 2023, private equity firm Thoma Bravo acquired software company Magnet Forensics for 1.8B CAD

Acquisition Highlights
  • This is Thoma Bravo’s 59th transaction in the Software sector.
  • This is Thoma Bravo’s 30th largest (disclosed) transaction.
  • This is Thoma Bravo’s 7th transaction in Canada.
  • This is Thoma Bravo’s 5th transaction in Ontario.

M&A Deal Summary
Date 2023-01-20
Target Magnet Forensics
Sector Software
Buyer(s) Thoma Bravo
Deal Type Going Private
Deal Value 1.8B CAD
Advisor(s) Blake, Cassels & Graydon (Legal)

Target

Magnet Forensics

Waterloo, Ontario, Canada
Magnet Forensics is a developer of digital investigation software that acquires, analyzes, reports on, and manages evidence from digital sources, including computers, mobile devices, IoT devices, and cloud services. Its software is used by more than 4,000 public and private sector customers in over 90 countries and helps investigators fight crime, protect assets and guard national security. Magnet Forensics was founded in 2010 and is headquartered in Waterloo, Ontario.

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Buyer(S) 1

Buyer

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 132 of 151
Sector: Software M&A 59 of 69
Type: Going Private M&A Deals 35 of 43
State: Ontario M&A 5 of 5
Country: Canada M&A 7 of 7
Year: 2023 M&A 1 of 6
Size (of disclosed) 30 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Talend

Suresnes, France

Talend is a provider of open-source software with a range of products including data integration, data quality, master data management and application integration tools. Talend was formed in 2005 and is based in Suresnes, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-23 Grayshift

Atlanta, Georgia, United States

Grayshift is a provider of mobile device digital forensics, specializing in access and extraction. Grayshift solutions are purpose-built to help law enforcement and government investigative agencies swiftly resolve critical investigations and ensure public safety. Grayshift was founded in 2016 and is based in Atlanta, Georgia.

Sell -
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