-- Leading Global Investment Firm to Support Optiv's Continued
Business Growth and Accelerate Global Expansion --
DENVER & NEW YORK--(BUSINESS WIRE)--
Security, a market-leading provider of end-to-end cyber security
solutions, and KKR,
a leading global investment firm, today announced the signing of a
definitive agreement under which KKR will acquire a majority stake in
Optiv. The company is being acquired from a group of private investors,
including a private equity fund managed by Blackstone (NYSE: BX), which
will maintain a minority interest in Optiv along with Optiv management.
Other selling shareholders include Investcorp and Sverica. Financial
terms of the transaction are not being disclosed.
This Smart News Release features multimedia. View the full release here:
Over the past three years, Optiv has served more than 7,500 clients in
76 countries, including 71 of the Fortune 100 and 604 of the Fortune
1000. Optiv was named to the 2016 Inc. 5000 as one of North
America's fastest-growing private companies with a 97 percent three-year
growth rate. The company made several strategic acquisitions this year
to broaden its cyber security services and solutions, and strengthen and
expand its geographic footprint. Optiv maintains strong relationships
with established and emerging security software providers and hardware
manufacturers, serving as the number one information security provider
for 16 of its top 20 partners.
"Cyber security has been a growing focus and pain point for companies
over the last decade, and is now one of the highest priorities for
global enterprises. We have been following the cyber security sector
very closely over the past several years and believe Optiv represents an
attractive investment opportunity given its market leadership as a
critical partner and advisor to the Global 1000," Herald Chen, co-head
of KKR's Technology, Media & Telecom investment team, said. "For KKR,
this investment is premised on partnering with an awesome management
team to build Optiv into a global security powerhouse by accelerating
investment in Optiv's product and service capabilities and expanding its
presence across the U.S. and internationally."
"More and more organizations are seeking an end-to-end cyber security
solutions provider at scale that has awareness over every domain of
cyber security and the ability to execute a comprehensive security
strategy," said Dan Burns, Optiv's chief executive officer. "Blackstone
has been an exceptional partner over the past few years, providing Optiv
the necessary resources to create a truly unique platform with depth and
breadth of offerings, extensive capabilities and proven expertise in
cyber security strategy. This new investment from KKR will enable our
company to better help global clients address their full range of cyber
risk and security needs in a customized and integrated fashion. We are
excited about this agreement and look forward to working with KKR to
become the world's most advanced, most comprehensive and most trusted
partner for cyber security solutions."
"I am very proud of the success of the Blackstone and Optiv partnership.
The Blackstone team worked with a remarkable management team who
executed incredibly well to create Optiv, a truly unique company, and
the first scale, national, acquisition platform in cyber security," said
Dave Johnson, senior advisor to Blackstone.
"We were excited to identify the cyber security trend early when we
first invested in Optiv in 2014 and have seen tremendous growth in the
business and market opportunity since," said Greg Blank, managing
director, Blackstone. "We are pleased to have helped create and expand
the platform under our ownership and are delighted to stay on as
partners with management and now KKR as Optiv continues its stellar
KKR is making the investment primarily from its eleventh Americas
Private Equity investment fund. KKR has a long record of supporting
technology companies, having invested over $18 billion of equity in
TMT-related private equity investments since 1983. KKR has experience
with a number of security related investments including Darktrace
(enterprise cyber threat defense software), Ping
Identity (next-generation identity security solutions) and Cylance
(next-generation endpoint protection company).
The transaction is expected to close in the first quarter of 2017
subject to customary closing conditions.
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC served as financial
advisors to Optiv on the transaction. Kirkland & Ellis LLP served as
legal advisors and Jefferies LLC as financial advisors to KKR. Simpson
Thacher & Bartlett LLP served as legal advisors to Optiv and Blackstone.
About Optiv Security
Optiv is a market-leading provider of end-to-end cyber security
solutions. We help clients plan, build and run successful cyber security
programs that achieve business objectives through our depth and breadth
of cyber security offerings, extensive capabilities and proven expertise
in cyber security strategy, managed
security services, incident response, risk and compliance, security
consulting, training and support, integration and architecture services,
and security technology. A Blackstone (NYSE: BX) portfolio company,
Optiv maintains premium partnerships with more than 400 of the leading
security technology manufacturers. For more information, visit www.optiv.com
or follow us at www.twitter.com/optiv,
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com
and on Twitter @KKR_Co.
Blackstone is one of the world's leading investment firms. We seek to
create positive economic impact and long-term value for our investors,
the companies in which we invest, and the communities in which we work.
We do this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with over
$360 billion in assets under management, include investment vehicles
focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets, and secondary funds, all on a
global basis. Further information is available at www.blackstone.com.
Follow us on Twitter @Blackstone.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161206005711/en/
Susan Vaillancourt, 603-459-8906
Huller or Cara Kleiman, 212-230-9722
Source: Optiv Security
News Provided by Acquire Media