NEW YORK | LOS ANGELES | GENEVA | July 11th, 2013 - Redwood Capital announced today that Great Bay Software, Inc., a leading global provider of software specializing in Enterprise Endpoint discovery, profiling, management and support, has been acquired by GrowthFire LLC, a private equity investment firm focused on emerging-growth software companies serving global markets.
"The combination of Great Bay and Growthfire will facilitate the company's growth into new markets and geographies at an accelerated pace," said Great Bay co-founder Steve Pettit. "This is the perfect time for this transition and we feel incredibly fortunate to have found an entity that so closely aligns with the company's aspirations."
Tim Butler, GrowthFire's Managing Partner, will lead Great Bay's growth as Chief Executive Officer. "Great Bay's award-winning Endpoint Discovery and Profiling solutions clearly lead the industry with capabilities and flexibility required by sophisticated global CIOs, security officers and network managers," Butler said. "Great Bay's enterprise solutions go well beyond current NAC, BYOD, compliance or asset management initiatives. The technology is critical to protecting and managing client's corporate networks where the rapidly-expanding internet-of-things increasingly exposes enterprise networks and network data.
"Great Bay's technology platform, strong international client list and key strategic partners provide a solid base for growth," Butler continued. "We look forward to investing in products, people and partnerships that solve the market?s endpoint and network management challenges and accelerate Great Bay's growth trajectory."
Redwood Capital served as exclusive financial advisor to Great Bay Software, Inc.
About Great Bay Software
Great Bay Software, Inc. is a leading global provider of software specializing in Enterprise Endpoint discovery, profiling, management and support. The company's flagship product, Beacon Endpoint Profiler, features applications that include the enabling and extending of NAC and 802.1X, providing a comprehensive inventory of all network attached endpoints, and supporting compliance initiatives mandated in today's business climate.
For more information, please visit www.greatbaysoftware.com.
GrowthFire is a Minneapolis-based, private investment partnership focused on helping high-potential emerging-stage software and services companies achieve their ultimate potential. GrowthFire is backed by global technology industry leadership and funds with over $1 Billion of capital under management. GrowthFire's emphasis is on building long-term value for shareholders, employees and customers by acquiring and growing global technology companies with platform potential.
For more information, please visit www.GrowthFire.com.
For further inquiries, please contact:
James TurinoManaging Partner, Member of the Executive Committee Software/SaaS Digital Services Industrial Tech