Riverbed’s board approved the deal, after starting a strategic review of the company’s financial options already in October under pressure from shareholders. The company said Thoma Bravo’s support will help take the application performance specialist to the next level of growth. Other companies in Thoma Bravo’s portfolio include Blue Coat Systems, Sirius, Keynote and Empirix.
Riverbed CEO Jerry Kennelly will remain with the company in the same capacity. The sale is expected to close in the first half of 2015, subject to approval by Riverbed stockholders and regulatory approvals.