The Logic estimated Jad Saliba's stake in Magnet Forensics at about C$461 million in January 2023. The figure came from the Thoma Bravo takeover price of C$44.25 per share, which valued the company at about C$1.8 billion.
Saliba was a Waterloo Regional Police officer who moved into digital forensics after cancer ended his patrol career. He wrote Internet Evidence Finder in his spare time, and the company was founded in 2009 with Adam Belsher, a former BlackBerry executive.
Magnet listed on the TSX in April 2021 at C$17 per share. In 2022 it had planned to buy Grayshift, but Thoma Bravo outbid it for that company.
In January 2023 Thoma Bravo agreed to acquire Magnet Forensics and merge it with Grayshift. The company was taken private, ending its public listing.