Magnet Forensics Inc., (TSX: MAGT), a Toronto, Canada-based developer of digital investigation options to enterprises and public security organizations, entered right into a definitive association settlement with Morpheus Purchaser Inc., a newly created company managed by software program funding agency Thoma Bravo, whereby Morpheus Purchaser will purchase the corporate, topic to acquiring shareholder and different customary approvals.
The settlement represented an mixture complete fairness worth of roughly CA$1.8 billion. Upon completion of the deal, Magnet will turn into a privately held firm.
Based in 2010, Magnet is a developer of digital investigation software program that acquires, analyzes, stories on, and manages proof from digital sources, together with computer systems, cell gadgets, IoT gadgets and cloud companies. The corporate’s software program is utilized by greater than 4,000 private and non-private sector prospects in over 100 international locations and helps investigators combat crime, shield belongings and guard nationwide safety. .
Following the closing of the Transaction, Thoma Bravo intends to mix the corporate and Grayshift LLC, which Thoma Bravo acquired majority management of in July 2022. The businesses’ complementary choices are anticipated to create an end-to-end digital investigations platform empowering extra public security companies all over the world to hunt justice, resolve crimes, and shield victims.
Grayshift is a supplier of cell machine digital forensics, specializing in lawful entry and extraction. By combining Grayshift’s cell entry and extraction capabilities with Magnet’s digital investigation suite, prospects are anticipated to have the ability to leverage the platform to extract, course of, study, collaborate on and handle digital forensic proof. Adam Belsher and Jad Saliba, Founders of Magnet, and David Miles and Braden Thomas, Founders of Grayshift, will every maintain crucial management positions within the mixed firm. Magnet’s Chair, Jim Balsillie, will serve on the board of the mixed firm.