Thoma Bravo exits Network Instruments

Middle-market private equity firm Thoma Bravo has sold Network Instruments to JDS Uniphase Corp. for $200 million in cash. The transaction is expected to close within 45 days. Credit Suisse acted as financial advisor to Thoma Bravo. Based in Minnetonka, Minnesota, Network Instruments is a provider of network and application performance management solutions.


San Francisco – Dec 11, 2013 – Thoma Bravo, LLC, a leading private equity investment firm, announced today the sale of its portfolio company, Network Instruments, LLC, a leading developer of enterprise network and application-performance management solutions for Global 2000 enterprises, to JDS Uniphase Corporation (JDSU) for $200 million in cash. The sale is expected to close within 45 days.
“Network Instruments’ success story is a reflection of Thoma Bravo’s proven growth strategy in the network management space,” said Thoma Bravo managing partner Seth Boro. “Through the firm’s partnership with Network Instruments’ management, we built upon the company’s market-leading technology and customer base, supported new product introductions and accelerated revenue growth.”
“We have enjoyed a great working relationship with Thoma Bravo and the company has benefited from their guidance and insights,” said Douglas Smith, president, CEO and co-founder of Network Instruments. “Together we have continued to provide our networking IT customers with some of the top application and performance management solutions in the industry. The strategic partnership with Thoma Bravo has allowed us to take this next step in our growth and development and enabled us to continue delivering to our growing customer base.”
“This investment marks an important milestone in our continued focus and emphasis on the network management space,” added Thoma Bravo principal Robert Sayle. “Thoma Bravo is proud of the work the professional and dedicated staff at Network Instruments has accomplished.”
Kirkland & Ellis LLP served as legal advisor and Credit Suisse served as financial advisor to Thoma Bravo.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm applies its own industry consolidation investment strategy and process, which seeks to create value by partnering with a company’s management to improve business operations and make strategic acquisitions that will accelerate growth. Thoma Bravo invests across multiple industries, with a particular focus on application and infrastructure software and financial and business services. The firm currently manages a series of private equity funds representing more than $4 billion of equity commitments. For more information, visit
About Network Instruments, LLC
Network Instruments develops the industry’s most scalable application performance monitoring solutions. Its legacy of Internet Protocol (IP) expertise allows for deeper, more actionable network visibility, so IT teams can resolve issues more quickly. Addressing the network management needs of medium-to-large enterprises through Global 2000 companies, Network Instruments supports today’s important IT initiatives, such as unified communications (UC), cloud, data center consolidation and virtualization, while lowering total cost of ownership. For more information visit or follow on Twitter @netinst.