Private equity firm TA Associates has acquired Irvine, California-based cybersecurity vendor Netwrix, framing the deal as a majority investment in the company. Financial terms were not disclosed.
This is M&A deal 402 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Members of Netwrix senior management and existing Netwrix investor Updata Partners will invest alongside TA, maintaining a significant equity interest in the company, Netwrix said.
As part of the deal, TA Associates’ Michael Libert, Harry Taylor, and Amit Jain will join the Netwrix board. Independent directors Dan Mayleben, chief executive officer at 2ndWave Software, and Matt Dircks, chief executive officer at BeyondTrust will also join existing board members Jon Seeber of Updata Partners, independent director Brian Turner and Steve Dickson of Netwrix, the company said.
Netwrix, founded in 2006, serves the mid-market segment – companies with between 500 and 10,000 employees. The company provides data security solutions that help address growing security and privacy concerns.
TA Associates Acquires Netwrix: The Next Phase of Growth
Steve Dickson, chief executive officer of Netwrix, commented on the news:
"Netwrix is thrilled to be working alongside TA as we enter our next phase of growth. The partnership with TA will provide Netwrix access to the firm's global add-on acquisition origination and integration capabilities and deep experience in the security and horizontal application software markets, which we believe will position us for substantial organic and inorganic growth."
Michael Libert, a senior vice president at TA Associates, said:
"With its powerful, easy-to-use products and streamlined business model, Netwrix has become a leading provider of data security products for the mid-enterprise market. Netwrix has an abundance of security, audit and compliance experience and more than 7,000 paying organizations that are deriving value from their experience with Netwrix."
TA Associates’ Investment History
TA Associates is a global growth private equity firm focused on the technology, healthcare, financial services, consumer, and business services sectors. The firm typically invests in profitable, growing companies that present opportunities for sustained growth.
TA has in more than 500 companies globally, raising $33.5 billion in capital since its founding in 1968. The firm has more than 90 employees working out of offices in Boston, Menlo Park, London, Mumbai, and Hong Kong.
Earlier this year, TA invested in another cybersecurity-related firm, Ivanti. The private equity firm also owns a majority stake in StorageCraft, the data protection software company.
