KnowBe4, a provider of security awareness training and simulated phishing, has entered into a deal to be acquired by Vista Equity Partners for $4.6bn.
Under the terms of the deal, KnowBe4 stockholders will receive $24.90 per share in cash upon completion of the proposed transaction.
KnowBe4 CEO and chairman Stu Sjouwerman said, “Today’s announcement is a testament to the success of our strategy and the strength of our incredible team. This acquisition by Vista represents the next phase of our journey.
“KnowBe4 has a strong record of performance, as evidenced by our market-leading platform and global customer base. Under Vista’s ownership, we will have access to additional resources and support, which will help us achieve our goals and deliver enhanced value to our customers. We look forward to partnering with Vista’s team to continue empowering businesses worldwide to strengthen their human firewall and make smarter security decisions every day.”
Rod Aliabadi – managing director at Vista – said, “As a significant investor in KnowBe4, we could not be more excited to take this next step in our journey together. We have long appreciated the work that KnowBe4 does in strengthening the human layer of cybersecurity through educating employees on how to identify social engineering and related cyber threats.”
The transaction is expected to close in the first half of next year, subject to customary closing conditions.
Data privacy platform DataGrail recently raised $45m in its oversubscribed Series C funding round, which was led by Third Point Ventures.
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