SaaS security provider ConnectWise are all set to be acquired by private equity firm Thoma Bravo for USD 1.5 billion. As per the terms of the deal, Thoma Bravo’s investment into the firm will be directed towards expanding global partners and creating a broad cybersecurity product suite for different markets.
According to Thoma Bravo, enterprises are looking to secure their IT environments with sophisticated cybersecurity tools and solutions. Since mitigating cyber risks is the order of the day, enterprises are also resorting to software-based services to monitor attacks and eradicate them.
With the acquisition of ConnectWise, Thoma Bravo not only plans to expand the former’s SaaS product suite but also the list of channel partners across the world. They say that this deal will help ConnectWise compete on a global level to build a larger presence.
Industry analysts opine that the selection of ConnectWise by Thoma Bravo is probably half the battle won when it comes to SaaS-security market. It will be interesting to see how the two manage to go further in the SaaS-security race, following the acquisition of Spanning Cloud Apps by Kaseya to protect MSPs.