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.
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