Security firm Accuvant has reached an agreement to become part of investment management firm Blackstone.
As part of the deal, Blackstone will acquire a majority stake in Accuvant, and Accuvant management and existing shareholder Sverica International will invest in Blackstone, a private equity firm.
“Security has transcended everyone and everything – from people to companies to nations,” said Dan Burns, Accuvant co-founder and chief executive officer, in a statement. “Accuvant has already helped thousands of organizations protect themselves and their customers. But, there’s so much more we can do. This new investment by Blackstone will enable us to accelerate our pace of innovation and expansion, and allow us to deliver new services and solutions that meet the constantly evolving needs of the global market.”
Accuvant provides solutions and services meant to help its clients develop and manage security programs.
The purchase would represent another investment connected to IT security for Blackstone, which also recently put money into Bit9 and Cylance. The acquisition is expected to close in April after receiving the necessary regulatory approvals. Financial terms of the deal were not disclosed.
“With this investment, we are excited to build upon Blackstone’s growing information security expertise as the sector becomes increasingly relevant across industries,” said Dave Johnson, senior managing director in Blackstone’s Private Equity Group. “Our investment will provide Accuvant’s experienced team with necessary resources as it continues to establish a reputation for excellence in the information risk and security space.”