Thoma Bravo Acquires Exostar

Arlington Capital Partners Acquires Exostar from Thoma Bravo

November 20, 2023

Cloud & SaaS

Arlington Capital Partners has completed its acquisition of Exostar, a cloud-based secure business collaboration platform, from Thoma Bravo. Arlington said it will leverage its domain expertise in regulated industries to accelerate Exostar's product development and growth across aerospace & defense, healthcare and financial services.

Thoma Bravo Acquires AxiomSL

October 19, 2020

Software

Thoma Bravo has agreed to acquire a controlling interest in AxiomSL, a provider of cloud-enabled risk management and regulatory reporting software for banks, investment managers, broker-dealers and trading firms. Thoma Bravo said it will partner with AxiomSL's management to accelerate product innovation, expand cloud capabilities and grow the company's customer base; the deal closed with financing from several lenders and advisors were Evercore and Weil, Gotshal & Manges for AxiomSL and Kirkland & Ellis for Thoma Bravo.

Thoma Bravo Makes Strategic Investment in Grayshift

June 21, 2022

Cybersecurity

Thoma Bravo has completed a strategic growth investment in Grayshift, a U.S.-based provider of mobile device digital forensics solutions. The capital will support Grayshift’s product innovation, international expansion, and potential strategic acquisitions; existing investors PeakEquity Partners and C&B Capital will remain shareholders.

Thoma Bravo Acquires Portions of Boeing's Digital Aviation Solutions (Jeppesen, ForeFlight, AerData, OzRunways) for $10.55B

April 22, 2025

Aerospace & Defense

Thoma Bravo agreed to acquire portions of The Boeing Company's Digital Aviation Solutions business — including Jeppesen, ForeFlight, AerData and OzRunways — in an all-cash transaction valued at $10.55 billion. The deal (closed Oct 31, 2025) creates the standalone company Jeppesen ForeFlight, led by Brad Surak, and allows Boeing to retain select core digital capabilities while the new business pursues accelerated product and AI-led growth under Thoma Bravo ownership.

Thoma Bravo Acquires Majority Stake in USU Product Business

October 1, 2024

Software

Thoma Bravo has acquired a majority stake in USU Product Business, investing alongside USU Software AG to accelerate product innovation and growth. USU Product — led by CEO Benjamin Strehl and employing over 600 people — will operate as an independent entity focused on IT Service Management, IT Asset Management, IT Operations Management and Knowledge Management; debt financing was provided by funds advised by Morgan Stanley Private Credit, clients of Guggenheim Investments, and HSBC Innovation Banking UK.

Thoma Bravo Backs Merger of OPEXUS and Casepoint

February 10, 2025

Software

Thoma Bravo has made a majority investment to back the merger of Casepoint and OPEXUS, creating a combined provider of data discovery and government process management software. Gemspring Capital sold OPEXUS to an affiliate of Thoma Bravo (retaining a minority stake), and Comvest Credit Partners and HarbourVest Partners provided debt financing for the transaction.