Kitchener-Waterloo’s Magnet Forensics has entered into a definitive agreement to be acquired by software-focused American private equity firm Thoma Bravo.

Thoma Bravo has struck a $1.8 billion CAD deal to buy the publicly-traded Canadian cybersecurity company and take it private.

Magnet announced the deal hours after the Investment Industry Regulatory Organization of Canada halted trading of Magnet’s shares on the Toronto Stock Exchange (TSX) earlier this morning, citing “pending news.”

Following the close of the deal, Thoma Bravo intends to combine Magnet with fellow digital forensics firm Grayshift, a United States-based company that Thoma Bravo acquired majority control of in July 2022.

Founded in 2009, Magnet develops digital investigation software that acquires, analyzes, and shares evidence from a variety of devices. The company, which currently trades on the TSX as ‘MAGT,’ caters to thousands of law enforcement, government, military, and corporate organizations around the world.

Developing…

Feature image courtesy Magnet Forensics.

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