Riverbed Technology (RVBD) has been bought by private equity investment firm Thoma Bravo and Teachers’ Private Capital, the private investor department of Ontario Teachers’ Pension Plan. The buyout is being valued at approximately $3.6 billion.

The San Francisco-based company provides solutions designed to tackle issue with IT performance across wide area networks (WANs). Riverbed’s solutions focus on CAD applications, data protection software, collboration, unified communications and more.

Riverbed CEO Jerry Kennelly, who will remain with the company in the same capacity, said his company believes this acquisition “will be a winning proposition for all our stakeholders.”

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“With the benefit of Thoma Bravo’s knowledge and insights, combined with the added flexibility we will have as a private company, Riverbed will be able to focus on reaching the next level of growth, which will benefit our employees, customers and partners,” he said.

The transaction is expected to close in the first half of 2015.

Riverbed declined to provide additional comment on the acquisition.

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