The investor group includes the Ontario Teachers’ Pension Plan through its private investor department, Teachers’ Private Capital, one of the world’s largest private equity investors. Thoma Bravo is a leading private equity investment firm providing equity and strategic support to experienced management teams for growing companies.
SonicWALL President and CEO, Matthew Medeiros, said of the agreement, “Our agreement with Thoma Bravo represents an attractive valuation for our shareholders, and we look forward to closing the transaction as quickly as possible. A partnership with Thoma Bravo will strengthen our focus on delivering the most advanced and highest quality solutions to our customers.”
Seth Boro, a Principal at Thoma Bravo, said, “Thoma Bravo and Teachers’ Private Capital are excited to partner with SonicWALL to continue building the company into a leader in the IT security market.” Thoma Bravo Vice President, Robert Sayle, added, “We look forward to working with SonicWALL to accelerate the company’s organic growth strategy and to pursue a consolidation strategy in the network security market as well as adjacent markets.”
The Executive Vice President and Chief Investment Officer of Teachers’ Private Capital, Neil Petroff, stated “Thoma Bravo and Teachers’ Private Capital will continue to support SonicWALL’s efforts to increase its customer value through product innovation and world-class customer support.”
The agreement is subject to customary closing conditions, such as requisite regulatory approvals and approval of SonicWALL shareholders. SonicWALL expects the transaction to close in the company’s fiscal quarter ending September 30, 2010, or early in the fiscal quarter ending December 31, 2010.
For more information on the company, visit www.sonicwall.com.