PE Hub: Thoma Bravo to exit Bomgar
Francisco Partners said April 3 that it agreed to buy Bomgar. Financial terms weren’t announced. Thoma Bravo is the seller. Bomgar provides secure access solutions.
Francisco Partners, a leading technology-focused private equity firm, announced it has signed a definitive agreement to acquire Bomgar, a leader in secure access solutions. The acquisition will strengthen Francisco Partners’ security technology portfolio with the addition of Bomgar’s privileged access and identity management solutions. Francisco Partners is acquiring Bomgar from Thoma Bravo, and financial details were not disclosed.
“Bomgar has become a key competitor in the secure remote and privileged access management markets, driven by its innovative platform of secure access solutions and steadfast commitment to customer service excellence,” said Dipanjan “DJ” Deb, Francisco Partners’ Co-Founder and Chief Executive Officer. “We see an opportunity to build upon Bomgar’s impressive technology and enthusiastic customer base to rapidly expand their product portfolio and market presence. We are excited to partner with the entire Bomgar team to grow the business and explore new market opportunities.”
Founded in 2003, Bomgar enables customers to quickly access and protect endpoints, defend privileged credentials, and support technology end-users to help businesses fight cyber threats while speeding performance. Bomgar’s market-leading Privileged Access Management (PAM) and Remote Support solutions are used by more than 13,000 customers worldwide. Bomgar enables security and IT professionals to combat threats to valuable data and systems, all while increasing productivity and efficiency.
“This investment is a testament to the success of Bomgar’s recent strategy and transformation, and we are excited to partner with Francisco Partners on the next iteration of our business,” said Matt Dircks, CEO, Bomgar. “The Francisco Partners team brings a wealth of experience in the security technology market that will enable Bomgar to expand our platform and portfolio and take advantage of new market opportunities. We’re excited to join the Francisco Partners family and deliver even more value to our customers, partners, and employees.”
Bomgar’s most recent acquisition of Lieberman Software and its best-in-class privileged identity and credential management software has further strengthened the company’s PAM platform and increased its ability to provide unparalleled protection against the most pervasive and dangerous cyber threats.
“We see tremendous growth opportunities with Bomgar,” said Brian Decker, Partner and head of security investing at Francisco Partners. “Privileged identity and access management is an increasingly strategic priority for enterprises, and Bomgar’s solutions offer the balance of security and productivity enterprise customers need and desire.”
Paul Hastings served as legal advisor and RBC Capital Markets and Jefferies LLC served as financial advisors to Francisco Partners. Jefferies Finance LLC provided financing for the transaction. William Blair & Company LLC served as financial advisor, and Kirkland and Ellis served as legal advisor to Bomgar.
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