Crossbeam Systems has been acquired by Thoma Bravo, a private equity firm, for an undisclosed sum. Crossbeam’s current senior management team will continue to manage the company.
Thoma Bravo currently manages a series of private equity funds representing almost $4 billion of equity commitments. In software, Thoma Bravo has completed 54 add-on acquisitions across 25 platform companies with total annual earnings of approximately $1 billion.
“Crossbeam is in a stronger-than-ever position to strengthen and expand our customer solutions,” said Mike Ruffolo, president and CEO of Crossbeam. “Thoma Bravo’s support and expertise in the software and technology industries will allow us to pursue new products and services through strategic initiatives and potential acquisitions to enhance our offerings.”