TPG Capital to acquire a majority stake in Centrify from Thoma Bravo.

TPG Capital, a private equity firm, agreed to acquire a majority stake in Centrify, a provider of modern privileged access management solutions, from Thoma Bravo, a private equity firm. Financial terms were not disclosed. “As a result of the many accelerating IT trends – including faster digital transformation, accelerated cloud adoption, and agile DevOps practices – enterprises need to manage and protect more privileged accounts than ever before. We believe PAM is one of the most important and strategic sub-sectors of security software, and Centrify is a clear market leader in this space – serving more than half of the Fortune 100. We want to thank Flint for all he has done to position the company for ongoing success, and look forward to building on this strong momentum in partnership with Art and the rest of the Centrify management team," Tim Millikin, TPG Capital Partner.