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.