M&A Deal Summary

KnowBe4 Acquires Egress

On April 24, 2024, KnowBe4 acquired software company Egress from FTV Capital

Acquisition Highlights
  • This is KnowBe4’s 1st transaction in the Software sector.
  • This is KnowBe4’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2024-04-24
Target Egress
Sector Software
Buyer(s) KnowBe4
Sellers(s) FTV Capital
Deal Type Add-on Acquisition
Advisor(s) Citigroup Investment Banking (Financial)
Orrick (Legal)

Target

Egress

London, United Kingdom
website
Egress is a provider of data privacy and compliance software designed to secure unstructured data. Egress helps enterprises protect unstructured data to meet compliance requirements and drive business productivity. Egress’s AI-powered platform enables users to control and secure the data they share in line with evolving compliance regulations, including GDPR, the NYDFS Cybersecurity Regulation (23 NYCRR 500), and the California Consumer Privacy Act. Egress was founded in 2007 and is based in London, England.

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Buyer(S) 1

Buyer

KnowBe4

Clearwater, Florida, United States

website

Category Company
Founded 2010
Sector Information Technology
Employees1,366
Revenue 246M USD (2021)
DESCRIPTION

KnowBe4 is a provider of security awareness platform that helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. KnowBe4 was founded in 2010 and is based in Clearwater, Florida.

DEAL STATS #
Overall 6 of 6
Sector (Software) 1 of 1
Type (Add-on Acquisition) 6 of 6
Country (United Kingdom) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 SecurityAdvisor

Sunnyvale, California, United States

SecurityAdvisor provides the only personalized security awareness platform that quantifiably reduces security incidents. The company's patented platform integrates easily with existing security infrastructure to deliver real-time coaching for each employee, teaching them how to identify and remediate cyberattacks and help security teams better measure the ROI and effectiveness of their training initiatives. SecurityAdvisor was formed in 2018 and is based in Sunnyvale, California.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Management Company, L.P. (FTV Capital) is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.

DEAL STATS #
Overall 57 of 57
Sector (Software) 14 of 14
Type (Add-on Acquisition) 38 of 38
Country (United Kingdom) 2 of 2
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-31 Tango Card

Seattle, Washington, United States

Tango Card is a cloud-based digital gift card and incentives platform for enterprise customers providing employee rewards and customer incentives & rebates. Tango Card was founded in 2009 and is based in Seattle, Washington.

Sell -
Mergr

Product

Company

Legal