M&A Deal Summary

Mimecast Acquires Code42

On July 24, 2024, Mimecast acquired internet software and services company Code42 from JMI Equity

Acquisition Highlights
  • This is Mimecast’s 2nd transaction in the Internet Software and Services sector.
  • This is Mimecast’s 6th transaction in the United States.
  • This is Mimecast’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2024-07-24
Target Code42
Sector Internet Software and Services
Buyer(s) Mimecast
Sellers(s) JMI Equity
Deal Type Add-on Acquisition
Advisor(s) Piper Sandler & Co. (Financial)

Target

Code42

Minneapolis, Minnesota, United States
Code42 is a provider of software as a service (SaaS) endpoint data protection and security solutions to enterprises. Native to the cloud, Code42® Incydr™ data protection is engineered to rapidly detect data exposure, loss, leak, and theft and speeds incident response – all without lengthy deployments, complex policy management, or disrupting employee productivity. Code42 was formed in 2001 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

Mimecast

London, United Kingdom
Category Company
Founded 2003
Sector Information Technology
Employees1,765
Revenue 501M USD (2021)
DESCRIPTION

Mimecast is an email and data security company. Mimecast makes business email and data safer for 21,800 customers by continuously investing to thoughtfully integrate brand protection, security awareness training, web security, compliance, and other essential capabilities. Mimecast was founded in 2003 and is based in London, the United Kingdom.

DEAL STATS #
Overall 6 of 7
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 6 of 7
State (Minnesota) 1 of 1
Country (United States) 6 of 7
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-04 Elevate Security

San Francisco, California, United States

Elevate Security is a fully integrated security behavior training and analytics platform that addresses the cybersecurity gap and human risk, by helping enterprises proactively identify and safeguard their riskiest users. Elevate Security was founded in 2017 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 Aware

Columbus, Ohio, United States

Aware delivers AI-infused governance, compliance and monitoring for enterprise organizations deploying today’s leading collaboration and messaging platforms, including Slack, Microsoft Teams, Yammer and Workplace from Facebook. Aware’s comprehensive platform solves common challenges that legal, compliance, information security and IT departments face when rolling out collaboration, including archiving, monitoring, organization insights, DLP, eDiscovery, retention and legal holds. Aware is based in Columbus, Ohio.

Buy -

Seller(S) 1

SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.

DEAL STATS #
Overall 106 of 106
Sector (Internet Software and Services) 22 of 22
Type (Add-on Acquisition) 67 of 67
State (Minnesota) 2 of 2
Country (United States) 94 of 94
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-30 Agiloft

Redwood City, California, United States

Agiloft is a provider of contract and commerce lifecycle management software to improve contract management for legal departments, procurement, and sales operation. Agiloft was founded in 1991 and is based in Redwood City, California.

Buy -
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