KnowBe4 to Be Acquired for $4.6B by Private Equity company Vista

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Published on 10/14/2022

 

KnowBe4 to Be Acquired for $4.6B by Private Equity company Vista

The private equity firm Vista Equity Partners has agreed to acquire cybersecurity training software vendor KnowBe4 Inc. for $4.6 billion. About a month after initially disclosing that it had received a buyout bid from Vista, KnowBe4 announced the deal. The private equity firm's $4.6 billion offer for the business is $24.90 per share. The asking price is 44% higher than KnowBe4's stock's closing price on September 16, the day before the takeover talks broke.

KnowBe4 was founded in 2010 to assist businesses in educating staff members on how to recognize and steer clear of phishing emails. Organizations can use the company's collection of courses and other learning tools to enhance their internal cybersecurity training initiatives. The library of KnowBe4 contains both in-house-produced learning materials and materials provided by partners. The training platform from KnoweBe4 is offered along with several additional software solutions.

The business provides a tool that can be used to simulate phishing attacks to evaluate how well an organization's cybersecurity initiatives are working. Administrators can enhance the efficacy of a simulated phishing campaign by tailoring it for particular business units, says KnowBe4. Additionally, the programme has templates for administrators to use, cutting down on manual work.

Hackers frequently build websites as part of phishing efforts to deceive company employees into revealing login information. Using the KnowBe4 platform, a business may create a website that looks like one used by hackers and use it to test its staff members' cybersecurity knowledge. Employees can also get cybersecurity guidance from the website.

KnowBe4 gives business users a tool to alert the IT department about phishing emails. Administrators can review the phishing attacks reported by staff members using a KnowBe4 tool called PhishER. The business claims that PhishER automates tedious activities often associated with analyzing hacking attempts.

According to KnowBe4, more than 52,000 organizations use its products. Revenue for the company's second quarter was $80.8 million, up 36% over the same period last year. As of June 30, its annualized recurring revenue was $328.3 million.

About 18 months after putting its shares on the Nasdaq, KnowBe4 is going private. The company secured a $300 million investment led by KKR before raising $144 million through its initial public offering.

Another significant KnowBe4 shareholder, KKR, and venture capital firm Elephant Partners have agreed to support Vista's proposed takeover of the business. Vista anticipates concluding the deal in the first half of 2023.

About KnowBe4

KnowBe4 Inc. is a platform for security awareness training and simulated phishing attacks. You can efficiently manage the social engineering issue using KnowBe4. Their Automated Security Awareness Program will let you develop a fully developed, personalized programme, and their robust Active Directory Integration will make managing users simple and quick. You can teach and phish your users using their integrated platform.

KnowBe4 was established on the tenet that the human element of the cybersecurity sector is grossly underrepresented. Small and medium-sized businesses (SMEs) are entirely unprotected against cyberattacks since there is no national security policy in place to do so. Antivirus software is only part of a comprehensive network security strategy, and its effectiveness against hostile attacks and zero-day exploits is severely insufficient. Antivirus software is currently the primary source of network protection.

About Vista Equity

Enterprise software, data, and businesses that are supported by technology are the sole focus of Vista Equity Partners, a multinational investment company. Robert F. Smith, the company's founder, chairman, and CEO, leverages private equity, permanent capital, credit, and public equity techniques to scale its businesses sustainably. Businesses in Vista's portfolio of private equity and permanent capital have access to specialized resources created to foster sustainable long-term wealth generation. Over two decades, Vista's knowledge has been developed through many transactions, sharpened through interaction with executives from many industries, and bolstered by its dedication to promoting a culture of mentoring and professional growth.

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Peter Daniels
Peter Daniels is the lead journalist for InsiderApps.com


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