Financial details of the transaction were not disclosed, although Thoma Bravo generally looks to invest at least $25m and can part with $200m or more per investment.
New Jersey-based SRS said it would use the funding to expand its market share and consolidate its position as a leader in the sector.
Co-founder and CEO Evan Steele will continue lead the company following Thoma Bravo’s investment, the firm said.
Thoma Bravo vice president Arvindh Kumar said, “We believe that SRS is an ideal fit for Thoma Bravo’s investment strategy of accelerating growth through operational best practices and acquisitions.”
Last month Nasdaq-listed medical imaging software group Merge Healthcare reportedly requested revised takeover offers from Thoma Bravo and other private equity firms still remaining in the auction to buy the business.
The Chicago-based company is understood to have asked Thoma Bravo, Thomas H Lee Partners and Francisco Partners to resubmit final bids by November 29, Reuters reported.
The request was seen by some as a sign that the sale has lost momentum, and the company could struggle to achieve a bid that meets its price expectations, the report said.
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