Private equity investment firm Thoma Bravo said it will acquire a majority interest in identity and access management (IAM) solutions firm Centrify.
Financial details of the transaction were not disclosed, and the transaction is expected to close in the third quarter of this year.
Founded in 2004, Centrify has raised a total of $94 million in funding to date, and offers a unified platform that provides Privileged Identity Management (PIM) and Identity-As-A-Service (IDaaS).
The Santa Clara, California-based company serves over five thousand customers around the world in industries including defense, banking, energy, retail, manufacturing and health care.
Thoma Bravo has made several large investments in the cybersecurity space over the years. In May 2018, it announced that it would acquire a majority interest in Security Information and Event Management (SIEM) solutions vendor LogRhythm. Other cybersecurity investments include SonicWall, SailPoint, Hyland Software, Deltek, Blue Coat Systems, Imprivata, Bomgar, Barracuda Networks, Compuware and SolarWinds.
“With Thoma Bravo’s extensive sector experience and insight in the enterprise security software space, Centrify is in a strong position to provide our products, services and unique expertise to meet the rising need for identity-based cybersecurity technology in today’s global environment,” Tom Kemp, co-founder and CEO of Centrify, said in a statement.