N.Y. investment firm takes majority stake in Optiv Security
Aim is to create ‘global security powerhouse’
Investment firm KKR & Co. has acquired a majority state in Denver-based Optiv Security, which earlier this year acquired Adaptive Communications of Portsmouth.
One report said the price was nearly $2 billion. The deal is expected to close in the first quarter of 2017 and puts to end plans by Optiv to launch an initial public offering.
KKR, based in New York, said it aims to transform Optiv into a "global security powerhouse by accelerating investment in Optiv's product and service capabilities and expanding its presence across the U.S. and internationally," said Herald Chen, co-head of KKR's technology, media and telecom investment team in a press release.
"Cyber security has been a growing focus and pain point for companies over the last decade, and is now one of the highest priorities for global enterprises," Chen said. "We have been following the cyber security sector very closely over the past several years and believe Optiv represents an attractive investment opportunity given its market leadership as a critical partner and advisor to the Global 1000."