Results advises Avecto on its acquisition by Bomgar
- Service: M&A
- Sector: Technology
- Sub Sector: Cyber Security, Enterprise SaaS
- Engagement Type: Sell Side
Results International is delighted to announce that it has acted as exclusive financial advisor to Avecto on its acquisition by Bomgar (a Francisco Partners backed company). The deal will create a leading player in the Privilege Access Management (PAM) space by bringing together Avecto’s market leading endpoint privilege management offering with Bomgar’s capabilities in privileged account and session management.
Results International has developed a strong, long-term relationship with Avecto’s shareholders, initially advising them on the $49 million minority growth equity fundraise from JMI Equity in December 2015. Following this investment Avecto continued its exceptional growth and maintained its global leadership position in endpoint privilege management software.
Pairing Avecto with Bomgar’s privileged account and session management technology will enable businesses to fully implement the principle of least privilege and defend themselves against today’s most prevalent threats.
Forrester estimates that 80% of security breaches involve privileged credentials. Privileged accounts are coveted targets for attackers and must be protected from both internal and external threats. Bomgar’s solutions protect privileged accounts, passwords, and credentials, while securing the remote access pathways commonly exploited in these attacks. Avecto’s technology adds another layer of defence at the endpoint by allowing organizations to remove excess admin rights only elevating privileges for approved applications and actions.
The addition of Avecto will also help the thousands of IT admins and support professionals using Bomgar’s Remote Support solutions to securely manage privileged access to desktops and workstations with minimal user interruption.
During 2018 Results International has advised both (i) Avecto, one of the most successful European Headquartered cybersecurity software vendors on its acquisition by Bomgar, and (ii) MWR InfoSecurity, one of the largest high-end cybersecurity service providers serving enterprises globally, on its acquisition by F-Secure. These transactions demonstrate Results International’s position as a leading advisor to the European cybersecurity sector and evidence our strong capabilities in delivering high value transactions for disruptive and fast-growth technology companies.
This is the second transaction Results have led for us. In our first deal we thought they were absolutely fantastic, two years later we are even more positive. The Results team worked tirelessly to achieve really successful outcomes in the transactions with both JMI and Bomgar. They really understand the security and enterprise software markets, focused on what was important to us as founders and shareholders, and ensured we were always one step ahead in the deal. Would we hire Results again? Absolutely – they will get you the very best deal.
Paul Kenyon and Mark Austin
Co-Founders and Co-CEOs, Avecto