Famed “Shark Tank” investor and cybersecurity entrepreneur Robert Herjavec found himself on the other side of the negotiating table recently, and has agreed to sell a majority stake in the security firm he founded in 2003 to investment group Apex Partners.
Apax and Herjavec this week said a definitive agreement has been signed for Apax Funds to acquire a majority stake of Managed Security Services Provider (MSSP), the Herjavec Group (HG).
Terms of the deal were not disclosed, and Mr. Herjavec will remain as a significant stakeholder and the firm’s Chief Executive Officer.
Apax plans to continue company growth and accelerate international expansion efforts, along with expanding the company’s team with additional threat & identity resources.
With more than 300 employees, Herjavec Group has offices and Security Operations Centers across the United States, United Kingdom, Canada and India.
For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.
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