(Telecompaper) Private equity firm Thoma Bravo has agreed to buy Riverbed Technology for USD 3.6 billion. The investor is working with Teachers' Private Capital, the private investor department of Ontario Teachers Pension Plan, on the acquisition. Riverbed stockholders will receive USD 21.00 per share in cash, or 12 percent more than the closing price the last trading day before the deal was announced. Riverbed's board approved the deal, after starting a strategic review of the company's financial options already in October under pressure from shareholders. The company said Thoma Bravo's support will help take the application performance specialist to the next level of growth. Riverbed CEO Jerry Kennelly will remain with the company in the same capacity. The sale is expected to close in the first half of 2015, subject to approval by Riverbed stockholders and regulatory approvals.