Thoma Bravo to Acquire Cloud-Based Collaboration Tech Provider Exostar; Carl Press Quoted

Carl Press
Carl Press

Private equity firm Thoma Bravo has agreed to buy Exostar, a Herndon, Va.-based provider of cloud-based business collaboration platforms for aerospace and defense, health care and life sciences industries, for an undisclosed sum.

Thoma Bravo will help Exostar expand its client base, accelerate growth initiatives and further develop capabilities, particularly in the field of cybersecurity, the companies said in a joint release published Tuesday.

Exostar supports over 150K aerospace and defense, life sciences and health care organizations through its cloud-based collaboration tools. It was established 20 years ago as a joint venture by Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT), BAE Systems, Raytheon Technologies (NYSE: RTX), Rolls-Royce and Merck (NYSE: MRK).

“Exostar’s identity access management and secure collaboration software is utilized by some of the most respected and well-known enterprise customers in aerospace and defense, life sciences and healthcare,” said Carl Press, a principal at Thoma Bravo. “We’re thrilled to partner with Richard Addi and the Exostar team to accelerate the company’s innovation and growth over both the near and long term.”

Richard Addi, president and CEO of Exostar, said the company will leverage Thoma Bravo’s security and technology experience as it works to expedite time-to-market for its suite of platforms designed to help enterprises execute their drug development and supply chain initiatives.

Kirkland & Ellis advises Thoma Bravo on the deal’s legal aspect. AGC Partners and Latham & Watkins respectively serve as Exostar’s financial and legal advisers in the transaction, which is subject to regulatory approvals and other customary closing conditions.

Check Also

telehealth

VA Seeks RPA-Based Software to Help Manage EHR Backlog

The Department of Veterans Affairs is conducting market research on commercially available robotic process automation technologies that can help streamline clinical document processing functions for electronic health records systems.

Anthony Cristillo SVP MSC

Anthony Cristillo Named Health Info Systems SVP at Dovel’s MSC Subsidiary

Anthony Cristillo, a more than 25-year biomedical research professional, has joined Dovel TechnologiesMedical Science & Computing subsidiary as senior vice president of health information systems.