BeyondTrust, a provider of Privileged Account Management and Vulnerability Management solutions, has agreed to be acquired by private equity firm, Veritas Capital.
While the terms of the deal were not publically disclosed, Bloomberg reported the deal to be valued at $310 million, a figure that was confirmed to be correct by a BeyondTrust spokesperson to SecurityWeek via email, but retracted shortly after, saying the price tag has not been disclosed.
BeyondTrust offers software tools that help organizations address user-based risks stemming from misuse of system or device privileges, as well as identify and remediate vulnerabilities targeted by cyber attacks.
According to the company, it has experienced revenue CAGR of over 20-percent since 2008.
BeyondTrust claims over 4,000 customers across multiple industry sectors, including 8 of the world's 10 largest banks, 8 of the world's 10 largest aerospace and defense firms, and 7 of the 10 largest U.S. pharmaceutical companies.
“BeyondTrust is poised to continue its significant growth both with new customers and across our existing customer base,” said Kevin Hickey, president and CEO, BeyondTrust. “We are excited to partner with Veritas in order to continue innovating our integrated cybersecurity software platform and to pursue enterprise and government markets.”
“We are very happy with this transaction and believe Veritas is getting a terrific asset in a critical market space,” said Mike Triplett, Managing Director, Insight Venture Partners. “BeyondTrust delivers the highest level of results and service to its customers and we are confident that it will continue to do so under Veritas’ stewardship.”
BeyondTrust has grown both organically and through making acquisitions of its own over the past few years. In May 2011 it acquired Lumigent Technologies, a provider of database security and activity monitoring solutions. Roughly one year later, in May 2012, the company acquired vulnerability management firm eEye Digital Security, and in December 2012 acquired Blackbird Group, a provider Windows system management software.
*Updated with deal valuation details