Thoma Bravo to buy Exostar

Private equity firm Thoma Bravo has agreed to buy Exostar, which provides business collaboration for the aerospace and defense industry, among other industries.

The terms of the deal were not disclosed.

Exostar was created as a joint venture by many large defense contractors, including BAE Systems, Boeing, Lockheed Martin, Raytheon and Rolls-Royce.

"Initially formed as a B2B aerospace and defense industry exchange, the company's secure platform now serves over 150,000 organizations worldwide in not only aerospace and defense, but the life sciences and healthcare markets as well," the company said. "Exostar's former shareholders plan to remain actively involved as customers and advisers offering guidance on the product roadmap and strategic platform investments."

Exostar said Thoma Bravo's investment is intended to "help Exostar accelerate business growth and broaden its existing customer base."

In a call with Inside Defense today, Richard Addi, Exostar's chief executive, said the deal had been about two years in the making and was not driven by current events.

Addi said he expects it to spur growth particularly in the areas of risk management and cybersecurity.

"How do we leverage the incumbency position that we've established?" he said. "How do we accelerate that, how do you get market expansion and get much deeper in terms of the capabilities that Exostar could potentially offer?"