Accuvant, the authoritative source for enterprise information security, today announced the completion of a previously announced transaction for funds controlled by Blackstone (NYSE: BX) to acquire a majority stake in the company. Blackstone will make significant further investment in Accuvant, which will enable the company to expand and accelerate its plans to meet the rapidly evolving information security needs of the global market.
“Accuvant has a vision to become the preeminent global provider of information security solutions,” said Dan Burns, Accuvant co-founder and chief executive officer. “Our partnership with Blackstone gives us the backing we need to realize that vision. I am extremely excited about this opportunity and about working with Blackstone to solve the biggest security problems facing global companies around the world.”
Accuvant has established itself as an industry leader through its unique business model. As the authoritative source for enterprise information security, the company provides a comprehensive set of services and solutions to help its clients plan, build and run successful security programs. Accuvant serves as a trusted advisor, allowing clients to better understand their threats, needs and options; as well as a strategic supplier, enabling clients to successfully execute on plans and strategies to protect themselves.
“Accuvant is the largest information security investment Blackstone has made to date,” said Dave Johnson, a senior managing director with Blackstone’s private equity business. “Accuvant has the right team, in-depth knowledge of the threats and the market, and a solid reputation for delivering industry-leading information security advice and services. We are very pleased to close this transaction and are looking forward to helping Accuvant offer new services, penetrate new markets and accelerate overall growth.”Accuvant management and Sverica International LLC, a private equity investment firm, are maintaining equity interests in Accuvant. Holland & Hart LLP and William Blair served as advisors to Accuvant during the transaction. Simpson Thacher & Bartlett LLP and Blackstone Advisory Partners L.P. served as advisors to Blackstone. Cooley LLP served as legal advisors to Sverica International LLC.
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