Thoma Bravo has agreed to sell Bomgar, a secure access solutions provider, to fellow private equity house Francisco Partners.
Francisco said the acquisition of Bomgar’s privileged access and identity management solutions will strength its security technology portfolio. The new owner’s experience in the security technology market will enable Bomgar to expand its platform and portfolio and take advantage of new market opportunities according to CEO Matt Dircks.
Founded in 2003, Bomgar enables customers to access and protect endpoints, defend privileged credentials, and support technology end-users to help businesses fight cyber threats. The company claims to help security and IT professionals combat threats to valuable data and systems, all while increasing productivity and efficiency. It claims to Increase access speed and agility, while enforcing least privilege best practices, to simultaneously drive business performance and security.
“Bomgar has become a key competitor in the secure remote and privileged access management markets, driven by its innovative platform of secure access solutions and steadfast commitment to customer service excellence,” said Dipanjan Deb, Francisco Partners’ co-founder and CEO. “We see an opportunity to build upon Bomgar’s impressive technology and enthusiastic customer base to rapidly expand their product portfolio and market presence. We are excited to partner with the entire Bomgar team to grow the business and explore new market opportunities.”
The company has offices in Atlanta, Austin, Jackson, Los Angeles, Washington D.C., Frankfurt, London, Paris, and Singapore. Its Privileged Access Management (PAM) and Remote Support solutions are used by more than 13,000 customers worldwide, including IT outsourcers, systems integrators, software vendors, healthcare organisations, government agencies, universities, financial institutions and retailers.
Finance and insurance organisations are striving to provide cutting-edge technology and services to employees and customers, while maintaining the highest levels of security and combating constant cyberattacks. IT departments, customer support organisations, and third-party vendors needing secure ways to access applications, devices, and critical systems, while protecting sensitive data and adhering to strict compliance regulations, such as PCI or SOX.
Bomgar’s solution provides the financial services industry with remote support, privileged access, passwords, granular permissions and mobile support. For compliance, users can log all session activity for a complete audit trail to meet compliance requirements or security policies. The Bomgar Remote Support Solution also aligns with the requirements outlined in the Payment Card Industry Data Security Standard (PCI DSS) version 3.2.
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