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SAN FRANCISCO & CHICAGO, March 13, 2012 –/BackupReview.info/– Thoma Bravo, LLC, a leading private equity investment firm, has entered into a definitive agreement to sell 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.
“We are proud of our strong partnership with the SonicWALL management team,” said Thoma Bravo managing partner Orlando Bravo. “During our ownership of the company, their implementation of our operational strategies resulted in a significant increase in SonicWALL’s value.”
“We are pleased to have worked with SonicWALL during this period of increased growth and investment. The company’s ability to achieve and sustain leadership and innovation in advanced IT security for customers of all sizes helped attract this acquisition by Dell, a leading global innovator in technology,” added Seth Boro, partner at Thoma Bravo.
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 appreciate the expertise Thoma Bravo brought to SonicWALL and attribute our recent growth and strengthened position in the network security industry to the leadership and operational best practices that Thoma Bravo brought to our partnership,” said SonicWALL President and CEO Matt Medeiros. “We remain committed to providing dynamic solutions and exceptional customer support to enterprise organizations worldwide and look forward to this 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.
Centerview Partners LLC served as an advisor to SonicWALL.
The transaction is expected to close within 45 days.
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About SonicWALL, Inc.
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