ESentire Inc., a cyber-security firm backed by non-public fairness agency Warburg Pincus, has struck a deal to promote a stake to 2 funding companies at a $1.2 billion valuation, in line with individuals acquainted with the matter.
Canadian pension fund Caisse de dépôt et placement du Québec and an current investor, Canadian enterprise capital agency Georgian, are shopping for a 50% stake in ESentire, stated the individuals, who requested to not be recognized as a result of the matter isn’t public. Whereas the companies reached an settlement in December, the deal hasn’t closed but, they stated.
Representatives for ESentire, Warburg, CDPQ and Georgian declined to remark.
ESentire, primarily based in Waterloo, Ontario, helps corporations detect safety threats after which reply to them. It competes with bigger rival Mandiant Inc., which Bloomberg Information beforehand reported is in talks to be acquired by Microsoft Corp.
Cyber safety has change into an more and more scorching space for merger and investing exercise, as individuals and firms search to guard knowledge as they do extra enterprise on-line. Based in Canada in 2001, ESentire protects knowledge and functions for greater than 1,200 organizations in over 75 nations, in line with its web site.
Warburg acquired a majority stake in ESentire from Edison Companions in 2017 for undisclosed phrases, in line with knowledge compiled by Bloomberg.
CDPQ, which manages Quebec’s public retirement and insurance coverage funds, has web belongings of about C$390 billion ($307 billion). In December, it stated it had agreed to purchase a minority stake in provide chain compliance supplier QIMA.
–With help from Kamaron Leach.
{Photograph}: Cables hook up with servers at an information heart contained in the VK Firm Ltd. workplace in Moscow, Russia, on Wednesday, Jan. 19, 2022. Photograph credit score: Andrey Rudakov/Bloomberg.
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