SAN FRANCISCO and BOULDER, Colo., July 2, 2018 /PRNewswire/ -- – Thoma Bravo, a leading private equity investment firm, today announced that it has become the majority investor in LogRhythm, the leader in next-generation Security Information and Event Management (SIEM) solutions. Financial details of the transaction were not disclosed.
"Thoma Bravo's expertise and long history of backing leading cybersecurity companies made them the clear partner to help us take LogRhythm to the next level," said Andy Grolnick, chairman, president and CEO of LogRhythm. "We look forward to working closely with the Thoma Bravo team to continue our customer-centric approach to innovation and further strengthening our position as a leading provider of NextGen SIEM offerings."
Thoma Bravo's partnership validates the strategic vision and long-term focus of LogRhythm's leadership team: to accelerate the company's growth, support continued innovation and extend LogRhythm's position as the industry's preeminent next-generation SIEM vendor. LogRhythm provides over 2,500 enterprise customers around the world the most complete platform for end-to-end threat lifecycle management. Its NextGen SIEM Platform has won many accolades, including being positioned as a Leader in Gartner's SIEM Magic Quadrant for six consecutive years.
"Not only did LogRhythm pioneer next-generation SIEM, but the company has maintained an impressive track record of steady growth and innovation that kept it a leader in the market since launching in 2003," said Seth Boro, a managing partner at Thoma Bravo. "This is one of among many reasons we're confident that LogRhythm is well positioned for future growth. We look forward to working with the company's management team to accelerate product innovation, meet ever-evolving cybersecurity challenges and drive continued customer success."
Kirkland & Ellis served as Thoma Bravo's legal advisor. Morgan Stanley and Cooley LLP served as LogRhythm's exclusive financial advisor and legal advisor, respectively.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $20 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include Datatel, Digital Insight, Entrust, SonicWall, SailPoint, Hyland Software, Deltek, Blue Coat Systems, Bomgar, Barracuda Networks, Compuware and SolarWinds. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
LogRhythm is a world leader in NextGen SIEM, empowering organizations on six continents to successfully reduce risk by rapidly detecting, responding to and neutralizing damaging cyberthreats. LogRhythm's NextGen SIEM Platform combines traditional SIEM capabilities with advanced user and entity behavior analytics (UEBA), network traffic and behavior analytics (NTBA) and security automation & orchestration (SAO). These combined capabilities deliver end-to-end Threat Lifecycle Management and serve as the foundation for the AI-enabled Security Operations Center (SOC), helping customers measurably secure their cloud, physical and virtual infrastructures for both IT and OT environments. Built for security professionals by security professionals, the LogRhythm platform has won many accolades, including being positioned as a Leader in Gartner's SIEM Magic Quadrant. For more information, visit www.logrhythm.com.
SOURCE Thoma Bravo