Exostar to Be Acquired by Thoma Bravo

A Virginia software company specializing in cloud-based solutions has agreed to be acquired by private equity firm Thoma Bravo.

Exostar was developed as a joint venture between some of the world’s leading businesses, including BAE Systems, Boeing, Lockheed Martin, Raytheon, Rolls-Royce, and, more recently, Merck. 

Initially formed as a B2B aerospace and defense industry exchange, the company’s secure platform now serves over 150,000 organizations in over 150 different countries in not only aerospace and defense, but the life sciences and healthcare markets as well.

After 20 years of joint-venture ownership by five global aerospace and defense industry leaders and one of the world’s largest pharmaceutical companies, Exostar has reached an agreement to be acquired by Thoma Bravo. 

A spokesperson for Exostar said that the owners “whose careful guidance has been integral to Exostar’s success”—BAE Systems, Boeing, Lockheed Martin, Merck, Raytheon Technologies, and Rolls-Royce—will “remain actively engaged as valued customers and trusted advisors.”

Exostar CEO and president Richard Addi said that the planned transaction “reflects the logical next step in our company’s evolution.”

“Thoma Bravo’s strategic investment positions us to more rapidly expand our community and deliver the digital trust that must exist between an enterprise and its suppliers, customers and partners,” said Addi.  

“We can leverage Thoma Bravo’s deep technology and security experience to take full advantage of our unique market position. Together, we plan to accelerate time-to-market for the Exostar suite of solutions that enable global enterprises to execute their mission-critical supply chain and drug development initiatives.”

Carl Press, a principal at Thoma Bravo, said the PE firm was thrilled to partner with Addi and the Exostar team.

“Exostar’s identity access management and secure collaboration software is utilized by some of the most respected and well-known enterprise customers in aerospace and defense, life sciences and healthcare,” said Press.

“The company’s understanding of complex organizations’ procurement and collaboration needs is a key differentiator inherent in its products.”

Thoma Bravo said it was hoping to expand Exostar's capabilities, particularly in the realm of cybersecurity. 

The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

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