Wednesday, May 11, 2011

Tripwire Skips IPO, Gets Acquired By Private Equity Firm

Portland-based Tripwire, the developer of IT security and compliance software, has agreed to be acquired by private equity firm Thoma Bravo, the two said Wednesday. Financial details of the buy were not disclosed. Tripwire had been in IPO registration, and had been targeting the NASDAQ Global Market for its IPO. The firms said the acquisition is expected to close by the end of the month, with Tripwire being headed up by current CEO Jim Johnson. Tripwire was backed by Advanced Technology Ventures, Bessemer, BA Ventures, and IVP. Tripwire was advised by J.P. Morgan Securities LLC and Perkins Coie in the deal; Thoma Bravo was advised by Kirkland & Ellis.