At a glance.
- SailPoint acquired by Thoma Bravo for $6.9 billion.
- Kaseya acquires Datto for $6.2 billion.
- KKR to acquire Barracuda Networks from Thoma Bravo.
Mergers and acquisitions.
Chicago-headquartered Thoma Bravo is acquiring Austin, Texas-based cloud identity security company SailPoint for $6.9 billion. The companies stated, "Upon completion of the transaction, SailPoint will become a privately held company with the flexibility and resources to continue providing industry-leading identity security solutions to modern enterprises around the world. Additionally, SailPoint will benefit from the operating capabilities, capital support, and deep software expertise of Thoma Bravo."
Miami-based IT and security management company Kaseya is acquiring Connecticut-headquartered business continuity and disaster recovery provider Datto for $6.2 billion. The company stated, "The all-cash transaction will be funded by an equity consortium led by Insight Partners, with significant investment from TPG and Temasek, and participation from notable investors including Sixth Street." Kaseya's CEO Fred Voccola stated, "This is exciting news for Kaseya’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase. Datto has a legendary commitment to its customers and employees. The alignment of our missions and focus makes us a natural fit, that will help our greatly appreciated customers reach new levels of success."
KKR will acquire Campbell, California-based cybersecurity firm Barracuda Networks from Thoma Bravo for approximately $4 billion, Reuters reports. The companies stated in a press release, "During Thoma Bravo’s ownership, Barracuda expanded and enhanced its product suite, implemented best-in-class operational processes and successfully executed a number of strategic acquisitions, which together propelled the Company to profitable and accelerating growth at over $500mm of revenue and enabled more customers to comprehensively protect their employees, applications, networks and data. KKR will provide resources and expertise to further accelerate the Company’s growth and support its strategic expansion in key areas, including managed detection and response, extended detection and response, and secure access service edge technology."
Boston-based security policy management company Tufin is being acquired by San Francisco-based Turn/River Capital for $570 million. Ruvi Kitov, chairman, CEO, and co-founder of Tufin, stated, "This deal represents an important milestone for Tufin, and as a private company, we will have the opportunity to accelerate our growth through investments in our technology, people, and go-to-market. The team at Turn/River specializes in helping software companies like Tufin, and with their partnership and expertise I am confident that we will be able to achieve our long-term goals faster."
Airbus Defence and Space has acquired German cryptography company DSI Datensicherheit GmbH (DSI DS). DSI DS will now operate under the name "Aerospace Data Security GmbH." Andreas Lindenthal, Head of Airbus Space Systems Germany, stated, "Cryptography is a key aspect for building secure systems. This acquisition will strengthen our cybersecurity capacities and enable us to create significant value for our customers. Cyber-protection is critically important for any system supporting critical infrastructure. Space based systems are no exception. Airbus and DSI DS have a history of partnering on important products and we are excited to continue our success with the start of Aerospace Data Security GmbH."
Minneapolis-headquartered HelpSystems has acquired Canadian security awareness training company Terranova Security. The company stated, "Terranova Security extends HelpSystems’ overall security suite with a proven training security awareness solution that complements email security offerings from Clearswift, Agari, and PhishLabs."
Investments and exits.
Plano, Texas-based managed detection and response firm Critical Start has raised $215 million in a strategic growth investment from Vista Equity Partners. The company stated, "The capital infusion will enable Critical Start to further accelerate growth, continue to rapidly scale the breadth and depth of its MDR offerings, and reach a wider range of customers who are investing heavily in cybersecurity as the volatile threat landscape escalates across the globe."
Lithuania-headquartered VPN and password management company Nord Security has raised $100 million in a funding round led by Novator Ventures, with participation from Burda Principal Investments and General Catalyst. The company says the investment "will be used to expand Nord Security’s product suite and enterprise footprint, while accelerating the growth of consumer cybersecurity company Surfshark, which Nord Security joined forces with in early 2022."
New York-based blockchain security startup CertiK has raised $88 million in a Series B3 round led by Insight Partners, Tiger Global, and Advent International, with participation from Goldman Sachs and existing investors Sequoia and Lightspeed Venture Partners. The company stated, "This new round of funding, coupled with revenue generated from KYC, Skynet, and Security Leaderboard services, will be used for the development and operation of more innovative and data-driven security products."
New York-headquartered security awareness training company HacWare has secured $2.3 million in a seed funding round led by Elevate Capital, with participation from 2.0 Ventures, Aura Innovation Fund, and Chai Angels. The company's founder Tiffany Ricks told TechCrunch that "she plans to use the seed round raise to build out the startup’s engineering and sales team to help protect companies from identity theft and phishing attacks."
Our sincerest condolences to Scope Security, who lost their founder and CEO last week: Michael Murray passed away on April 6th. May his family, friends, and colleagues find consolation in their grief.
ThreatConnect's CEO and co-founder Adam Vincent is stepping down after eleven years, to be replaced by Balaji Yelamanchili. Vincent stated, "Balaji is a seasoned cybersecurity executive with deep experience as both an operator and an investor. His passion for innovation and delivering products that solve big problems is a tremendous fit for ThreatConnect. I couldn’t be happier with the leadership he brings to the company for the next phase of the journey. In addition, the company has strengthened its leadership team with two additional executive hires, Charles Gold as Chief Marketing Officer and Toby Bussa as Vice President of Product Marketing." Vincent added, "As far as what is next for me, beyond some family time, I don’t know yet, but I’m excited to see what the future holds."