Private equity firm Thoma Bravo has agreed to acquire LogRhythm, a US-based security provider backed by electronics manufacturer Siemens and cybersecurity technology distributor Exclusive Networks.
Financial terms of the acquisition have not been disclosed. The deal is excepted to close in the third quarter of 2018.
Founded in 2003, LogRhythm has developed a security and analytics platform that detects and thwarts threats.
LogRhythm had raised more than $121m, according to press releases and regulatory filings.
Siemens Next47, the corporate venturing unit then known as Siemens Venture Capital, previously took part in a $50m round in 2016 alongside cybersecurity technology distributor Exclusive Networks’ affiliate Exclusive Ventures.
The 2016 round was led by Riverwood Capital and included Adams Street Partners, Delta-V Capital, Silver Lake Waterman, Singaporean state-owned fund EDBI and members of LogRhythm’s management team.
Siemens Next47 had already led a $15m series D round in 2012, with participation from Adams Street Partners, Grotech Ventures and the Colorado Fund.
LogRhythm’s shareholders also include Access Venture Partners, Piper Jaffray and Croghan Investments.