Thoma Bravo to acquire Magnet Forensics for $1.34 billion

US private equity and investment firm Thoma Bravo announced that it will acquire digital forensics firm Magnet Forensics for $1.34 billion. “We look forward to bringing together the complementary capabilities of Magnet and Grayshift to create a leader in digital forensics and cybersecurity,” Thoma Bravo partner Hudson Smith said in a statement regarding the acquisition. According to market research firm Imarc, the digital forensics market is expected to grow from $5.8 billion in 2022 to $10.9 billion in 2028. US private equity and investment firm Thoma Bravo is acquiring Canada-based digital forensics firm Magnet Forensics for $1.34 billion. Magnet Forensics develops digital investigation software that collects, analyzes, and reports on evidence from computers, mobile devices, internet of things-connected devices, and cloud services. Thoma Bravo will merge Magnet Forensics with Grayshift, a mobile forensics company that it acquired a majority control of last July, upon completion of the acquisition. “We look forward to bringing together the complementary capabilities of Magnet and Grayshift to create a leader in digital forensics and cybersecurity,” Thoma Bravo partner Hudson Smith said. “Digital evidence is becoming an increasingly critical aspect of investigations, and we will be well-positioned to provide greater solutions to our clients.” The company, founded by Waterloo Regional Police Officer Jad Saliba, who worked in the force’s high-tech crime unit, claims its software is used by more than 4,000 public and private sector clients. The software is used by police departments, intelligence agencies and tax officials.