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Thoma Bravo to put Empirix on block: sources

After a near four-year hold, Thoma Bravo is expected to put Empirix Inc up for sale, two sources said.

The PE firm will soon hire an investment banker to handle the Empirix auction, one of the sources said. It’s unclear how much Empirix will fetch.

Thoma Bravo acquired Empirix in November 2013. Founded in 1992, the Bedford, Massachusetts, company provides network testing, monitoring and analytics solutions. Empirix raised $72.7 million in funding before its sale to Thoma Bravo in 2013, according to PitchBook. Sellers at the time included Lehman Brothers, Matrix Partners and Tenaya Capital, PitchBook said.

In February, Empirix said it posted strong growth in 2016, including year-over-year revenue gains and record Q4 bookings. However, the company noted that telecommunications service spending was expected to be soft last year. Empirix said it added 36 new clients in 2016.

Network testing has seen some action this year. Bridge Growth Partners acquired a majority stake in Accedian earlier this year. Quantexa, a data analytics provider, raised $3.3 million in March from investors including Albion Ventures and HSBC.

In 2016, Thoma Bravo closed its 12th flagship fund on $7.6 billion, more than double the size of its previous flagship fund, Buyouts reported.

Executives for Thoma Bravo declined comment. Empirix could not be reached for comment.

Action Item: To contact Seth Boro, a Thoma Bravo managing partner, call him at (415) 249-6719

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