Magnet Forensics to be acquired for $1.3B

Canadian digital forensic software company Magnet Forensics is set to be purchased by private equity firm Thoma Bravo in a $1.3 billion deal, reports SiliconAngle. Upon completing the acquisition, Thoma Bravo will be integrating Magnet Forensics with digital forensic solutions provider Grayshift, from which it gained a majority stake last July, to develop a new end-to-end digital investigations solution aimed at bolstering digital forensic evidence processing across public safety agencies worldwide. "We believe the combination of Magnet and Grayshift will unlock tremendous value for our customers by further integrating and expanding our product suite which will result in more seamless workflows in the recovery and analysis of critical digital evidence to investigations and ultimately contribute to our shared mission of the pursuit of justice. We are confident that this transaction joining two complementary organizations to form a new private company offers the most compelling value creation for all our stakeholders and is a testament to the value of digital investigation solutions," said Magnet Forensics CEO Adam Belsher.