Deal Wrap: Thoma Bravo to exit Venafi; Alicorn to acquire Glassbox

Deal Wrap is updated as of 3 p.m. ET.

– Battery Ventures is set to acquire German switch and sensor manufacturer steute Technologies GmbH & Co. KG.

– Thoma Bravo LP portfolio company Venafi Inc., a machine identity management solutions business, is slated for acquisition by CyberArk Software Ltd. for an enterprise value of about $1.54 billion in cash and stock. Morgan Stanley & Co. LLC was the financial adviser and Latham & Watkins LLP was legal adviser to CyberArk. Piper Sandler was the financial adviser and Kirkland & Ellis LLP was legal adviser to Thoma Bravo.

– Alicorn Venture Partners will purchase Israel-based customer intelligence platform Glassbox Ltd. from an investor group that includes Brighton Park Capital Management LP, Gefen Capital, Updata Management LLC and CreditEase Corp. Glassbox will become a privately held company upon completion of the all-cash deal, which is valued at roughly $150 million. Herzog Fox & Neeman represented Glassbox in the transaction, while Fischer represented Alicorn.

– GrubMarket Inc. acquired food wholesale software business Butter Technologies Inc. from investors Notation Capital Management LLC, Gradient Ventures and Uncommon Capital.

For more private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.