Thoma Bravo Completes Sale of Portfolio Company SonicWALL to Dell Inc.
THOMA BRAVO COMPLETES SALE OF SONICWALL TO DELL INC.
San Francisco and Chicago (May 9, 2012) – Thoma Bravo, LLC, a leading private equity investment firm, announced today it has completed the sale of portfolio company SonicWALL, Inc., a leading provider of IT security and data backup and recovery solutions, to Dell Inc. (NASDAQ: DELL). Financial terms were not disclosed.
“Working in strong partnership with the SonicWALL management team, we were able to achieve a significant increase in the company’s value during our ownership,” said Thoma Bravo managing partner Orlando Bravo. “The acquisition by Dell reflects this and the great job the management has done to position the company for continued growth.”
“SonicWALL is now at the forefront of innovation in the evolving area of network security and data protection,” added Seth Boro, partner at Thoma Bravo. “SonicWALL’s industry leadership in a growing area of critical importance for organizations of all sizes helped attract a leading technology company like Dell.”
Thoma Bravo led an investor group that includes Ontario Teachers’ Pension Plan (through its private equity group, Teachers’ Private Capital) in the acquisition of SonicWALL, formerly a public company, in a take-private transaction in 2010.
“We are appreciative of Thoma Bravo’s assistance over the last couple of years,” said SonicWALL president and CEO Matt Medeiros. “Our partnership with Thoma Bravo resulted in a period of notable success for the company and opened up this opportunity for our next phase of growth with Dell.”
Established in 1991 and headquartered in San Jose, CA, SonicWALL provides dynamic network security and data protection solutions for small, mid-sized and large enterprise organizations worldwide. With offices in 23 countries and more than 950 employees serving customers in 50 countries, SonicWALL delivers award-winning solutions that include network security, secure remote access, email security, backup and recovery, and policy and management.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm has continued to apply the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo invests across multiple industries, with a particular focus in enterprise and infrastructure software and financial and business services, and works in partnership with management to implement its operating and consolidation expertise to build long-term value. The firm currently manages a series of private equity funds representing almost $4 billion of equity commitments. In software, Thoma Bravo has completed 52 add-on acquisitions across 23 platform companies with total annual earnings of approximately $1 billion. For more information, visit www.thomabravo.com.
About SonicWALL, Inc.
Guided by its vision of Dynamic Security for the Global Network, SonicWALL develops advanced intelligent network security and data protection solutions that adapt as organizations evolve and as threats evolve. Trusted by small and large enterprises worldwide, SonicWALL solutions are designed to detect and control applications and protect networks from intrusions and malware attacks through award-winning hardware, software and virtual appliance-based solutions. For more information, visit www.sonicwall.com.
Dell Inc. (NASDAQ: DELL) listens to customers and delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.dell.com.
Thoma Bravo, LLC
LANE PR (for Thoma Bravo)