Blackstone (NYSE:BX) today announced that a fund it manages on behalf of its private equity investors has entered into a definitive agreement to acquire a majority stake in Accuvant Inc., a leader in information security solutions and services. Accuvant management and existing shareholder Sverica International LLC will invest alongside Blackstone in the transaction. Blackstone’s investment will enable Accuvant to accelerate its pace of expansion and enable the management team to deploy additional capital and resources for a broader roll-out of its product- and service-based solution offerings.
This investment leverages Blackstone’s extensive technology experience and capabilities, and also significantly broadens its presence in the information-security sector. The increased prevalence and complexity of cyber-attacks has made information security a Board-level issue at corporations across the world. Blackstone has committed significant time and resources to evaluating the industry landscape and key vendors in the market.
Accuvant is one of several tech investments that Blackstone's private equity funds have made in the technology sector over the last twelve months. Other recent investments include: Pactera Technology International Ltd, China's largest IT outsourcing company; and Kronos, a leading global provider of workforce management software and services. Separately, Blackstone has made small minority investments in emerging security companies, including Carbon Black / Bit9, iSIGHT Partners, Secure Mentem, WatchDox, and Cylance.
Accuvant provides its enterprise customers with security software and hardware manufactured by its best-in-class technology partners and, via its security services segments, offers implementation, consulting, 24x7 monitoring / managed services, and world-class post-intrusion detection and remediation services. Accuvant’s experienced account managers and engineers differentiate themselves with their high-touch customer service model, holistic view of their client's security needs and deeply specialized technical knowledge, which together make Accuvant a trusted advisor to its clients on their information security needs.
Dave Johnson, Senior Managing Director in Blackstone’s Private Equity Group, said, “With this investment, we are excited to build upon Blackstone’s growing information security expertise as the sector becomes increasingly relevant across industries. 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.”