The financial details of the deal were not disclosed.
PKWARE is an enterprise software company founded in 1986 that provides encryption and data compression software used by thousands of companies across a variety of industries including, banking, financial services, healthcare and the government.
The software company created the .ZIP file format and its flagship data security platform, Smartcrypt, enables companies to protect sensitive data, meet compliance and regulatory requirements and manage risk.
Thompson Street Capital Partners focuses on investing in founder-led middle market businesses. The private equity firm has acquired more than 150 companies in the healthcare and life sciences services, software and technology services and business services and engineered products sectors. Read the full story here.