Investcorp, a global provider and manager of alternative investment products, has signed a definitive agreement for FishNet Security to join Accuvant, combining two leading providers of information security services and solutions.

The transaction will bring together the complementary strengths of FishNet and Accuvant, allowing the new entity to provide a broader suite of services, more innovative solutions, greater expertise and expanded reach to innovate and meet customers' complex and rapidly expanding global information security needs, said a report in the Gulf Daily News (GDN), our sister publication.

Pending regulatory approvals, the transaction is expected to close in the first quarter of next year, with Investcorp maintaining a minority equity interest in the new, combined company. Financial terms are not being disclosed.

“The increasingly sophisticated and targeted nature of cyber attacks has heightened demand for advanced protection against the information security threats that jeopardise organisations, businesses and customers,” said FishNet Security chief executive Rich Fennessy.

“Together, FishNet Security and Accuvant will be better positioned to provide holistic, high-value, and integrated security solutions that cover all aspects of cyber defence.

“We believe that by bringing our organisations together we will be able to accelerate innovation and help customers to more adequately address information security concerns.”

Upon the closing of the transaction, the new, combined company will have depth, breadth, scale, financial resources, and the industry's most talented people to research and solve specific or complex customer security problems, as well as those of the industry at large.

It will bring together more than 1,400 employees focused on serving customers; more than 650 highly skilled security professionals, delivering a full suite of information security risk and compliance consulting, as well as managed security services and product services; best practices and real-world experience gained from working with more than 10,000 customers of various sizes across multiple industries; partnerships with the leading security product manufacturers; and 60 offices, training and security operations locations across the US and Canada.

“This transaction is a product of the increased need for cyber security solutions and Investcorp's ability to identify companies in fast-growing industries with immense potential,” said Investcorp Gulf Business president Mohammed Al Shroogi.

“We are very pleased to have supported FishNet Security's impressive growth and performance alongside Fennessy and the entire FishNet Security team.

“Since acquiring the company in 2012, FishNet Security has delivered strong organic growth and improved its profitability while continuously innovating its offerings to anticipate and address the complex challenges associated with cyber security.

“We believe the combination of FishNet Security and Accuvant will create substantial value for all the parties involved and we look forward to supporting the new company's efforts to expand its capabilities, offerings and operations.”

Investcorp's original investment in FishNet Security in 2012, and its joining with Accuvant, are the latest in a series of high growth investments Investcorp has completed, which also include Fleetmatics, Skrill and Berlin Packaging.

Upon closing of the transaction, Accuvant chief executive Dan Burns will become the chief executive of the new, combined company. FishNet Security chief executive Rich Fennessy will remain on board as an adviser to assist in the integration effort. The combined company's management team is expected to draw upon the experienced group of leaders from both companies. - TradeArabia News Service