Thoma Bravo LLC, a well-known private equity investment firm, has acquired Continuum, a Boston-based IT management platform for Managed IT Service Providers (MSPs), from Summit Partners. Financial details of the deal with Summit Partners, Continuum’s previous owner, were not disclosed.
The Continuum platform provides MSPs with capabilities around Remote Monitoring and Management (RMM), backup and disaster recovery, security and similar offerings, primarily to SMBs. Its vertically integrated service delivery model combines a SaaS-based technology suite with a Network Operations Center (NOC) and Help Desk, that allows MSPs to remotely administer, backup and secure client networks from a single pane of glass.
“The company has a smart and proven business model which solves a well-understood skills gap in the MSP market,” added AJ Jangalapalli, a Vice President at Thoma Bravo. “With its strong growth and high customer retention, Continuum is a great fit with the Thoma Bravo portfolio.”
Continuum employs more than 1,400 people worldwide and monitors more than one million endpoints for its 5,800 partners, according to the company.
The acquisition of Continuum was made through Thoma Bravo’s Discover Fund, which debuted in early 2016. Thoma Bravo has a series of funds representing more than $17 billion in capital commitments
Vendors, service providers and private equity firms continue to jockey for key positions in the MSP space. We expect announcements like this one to be repeated for the foreseeable future.