Investcorp has announced that Optiv Security, an end-to-end cyber security solutions provider, has signed a definitive agreement under which KKR will acquire a majority stake in it.
Optiv is being acquired from a group of private investors, including a private equity fund managed by Blackstone, Investcorp and Sverica, however Blackstone and Optiv management will maintain a minority interest in the company. Financial terms of the transaction are not being disclosed.
The Bahrain-based company originally invested in Optiv through the acquisition of FishNet Security in November 2012. During this period, FishNet Security acquired one company and merged with Accuvant to create Optiv.
Mohammed Al Ardhi, executive chairman of Investcorp, stated: “Our track record in identifying companies and industries with significant growth potential has allowed us to expand businesses and enhance their value. The recent sale of Optiv to KKR serves to further emphasise our continued investment momentum in the United States.”
“Investcorp’s acquisition of FishNet Security exemplifies the type of companies and industries where we see significant opportunities in which to invest,” added Dave Tayeh, head of Corporate Investment North America at Investcorp. “Since Investcorp’s initial acquisition, the business has increased revenue and EBITDA nearly three times through organic growth, the merger that created Optiv and strategic acquisitions, which broadened the scope and scale of the business.”
Investcorp has invested in several security-related companies, including CSIdentity, Sophos and Securelink.
