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5/31/2018
03:35 PM
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Thoma Bravo Acquires Majority Stake in LogRhythm

The SIEM vendor sells stake to private equity firm.

SIEM vendor LogRhythm today announced that it has entered into an agreement for a majority stake of the company to be acquired by private equity firm Thoma Bravo. Financial details of the deal were not disclosed.

LogRhythm, a 15-year-old vendor of security information and event management systems, has more than 2,500 global customers. The purchase, expected to close in the third quarter of 2018, is intended to support future operational and product development plans.

In the statement announcing the purchase, LogRhythm's chairman, president, and CEO, Andy Grolnick, described the step as an exciting strategic step forward for the company.

Read more here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

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RyanSepe
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RyanSepe,
User Rank: Ninja
5/31/2018 | 10:50:32 PM
Financial Disclosure
It will be interesting once the finances eventually become disclosed what they will be for an acquisition of this type.
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