Thoma Bravo bags 28th software, tech platform company with $395m Keynote buy

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computer code softwareUS private equity firm Thoma Bravo has completed a $395m take-private buyout of internet and mobile cloud testing and monitoring business Keynote Systems.

The California-headquartered company has more than 7,000 measurement computers and mobile devices in 275 locations across the world, and collects over 700 million mobile and web performance measurements each day.

Thoma Bravo’s buyout is a good fit with its current focus on enterprise and infrastructure software and technology, which it looks to expand through buy-and build.

The acquisition represents Thoma Bravo’s 28th platform company in the software and technology industries.

Managing partner Orlanda Bravo said, “The ever-changing online experience and the growth of the mobile market offer new and exciting opportunities for Keynote.

“We look forward to partnering with the executive team at Keynote to enable the company to accelerate growth and more quickly develop and acquire innovative solutions that meet customers’ needs.”

Last month Thoma Bravo agreed to buy IFS, the financial services division of Intuit, in a deal worth more than $1bn.

The business, which provides banking software to financial institutions, was bought by tax software maker Intuit in a $1.35bn in 2007.

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