Thoma Bravo has acquired Continuum for an undisclosed amount.

The private equity investment firm says its purchase of the global IT management platform for managed service providers (MSPs) is an investment that the team at Thoma Bravo has been watching for some time.

A partner at Thoma Bravo, A.J. Rhode says Continuum sets the industry standard with its turn-key approach in the Remote Monitoring and Management market for MSPs.

“We know this market well, and have followed the company for a long time,” Rhodes says.

“What Michael George and his team have delivered on in terms of an innovative product suite and full software and services model has been very impressive, and we can't wait to work with them to accelerate the world-class offering they deliver to MSPs, both organically and through add-on acquisitions.

Continuum currently employs more than 1,400 professionals worldwide and monitors more than 1 million endpoints for its 5,800 partners, including MSPs servicing more than 60,000 SMB customers.

A vice president at Thoma Bravo, AJ Jangalapalli says Continuum's vertically integrated  service delivery model combines a SaaS-based technology suite with a best-in-class Network Operations Center (NOC) and Help Desk, and allows MSPs to remotely administer, backup and secure their clients' IT environments from a single screen and to scale quickly and cost-effectively.

“The company has a smart and proven business model which solves a well-understood skills gap in the MSP market,” says Jangalapalli.

“With its strong growth and high customer retention, Continuum is a great fit with the Thoma Bravo portfolio.

CEO at Continuum, Michael George is happy with the proceedings, affirming Thoma Bravo is the perfect financial and strategic partner for them at this important stage of their company's growth.

“This investment will enable us to continue to capitalise on our core value propositions and increase critical investments in product development as well as sales and marketing tools for our MSP partners to help accelerate their growth,” says George.

“We are incredibly grateful for the partnership and support we have received from Summit Partners, and are confident that Thoma Bravo's operational expertise, knowledge of the space and strategic support will be invaluable to us as we focus ambitiously on our company's future.

The acquisition of Continuum was made through Thoma Bravo's Discover Fund, which debuted in early 2016, and comes on the heels of its acquisition of Riskonnect, an integrated risk management provider, announced last week.