Cybersecurity specialist RedSeal has reportedly picked up investment from private equity house Symphony Technology Group in a deal worth about $70m.
Data, software and analytics-focused STG said it has taken a 70 per cent stake in the 15-year-old business, according to a report from Reuters.
The investment brings RedSeal’s overall outside investment to $142m the report added.
In terms of exit strategy, Reuters cited company COO Julie Parrish as saying, “This investment doesn’t mean an initial public offering is completely off the table, but the outcome is likely to be a high-multiple buyout.”
Recent private equity activity in the cybersecurity market includes Thoma Bravo buying into Imperva in a $2.1bn deal, which it followed with a $950m buyout of Veracode from Broadcom.
Last month cybersecurity awareness training and simulation platform KnowBe4 hit a valuation of more than $800m thanks to an investment from buyout giant KKR and Ten Eleven Ventures.
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Copyright © 2018 RegTech Analyst
