M&A Deal Summary

Trustwave Acquires M86 Security

On March 19, 2012, Trustwave acquired information technology company M86 Security from Updata Partners for 200M USD

Acquisition Highlights
  • This is Trustwave’s 2nd transaction in the Information Technology sector.
  • This is Trustwave’s largest (disclosed) transaction.
  • This is Trustwave’s 6th transaction in the United States.
  • This is Trustwave’s 2nd transaction in California.

M&A Deal Summary

Date 2012-03-19
Target M86 Security
Sector Information Technology
Buyer(s) Trustwave
Sellers(s) Updata Partners
Deal Type Add-on Acquisition
Deal Value 200M USD
Advisor(s) AGC Partners (Financial)

Target

M86 Security

Orange, California, United States
M86 Security is a provider of Secure Internet Gateway products. Its customers include schools & universities, healthcare providers, governments, and small businesses. With the company’s Internet and email filtering solutions, customers can proactively enforce Internet usage policies, comply with corporate governance requirements and improve network performance while protecting employees from inbound malware.

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Buyer(S) 1

Buyer

Trustwave

Chicago, Illinois, United States

Category Company
Founded 1995
Sector Software
Employees590
DESCRIPTION

Trustwave is a cybersecurity company that reduces cyber risk and fortifies organizations against disruptive and damaging cyber threats. The company's comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimizes its client’s cyber investment, and improves security resilience. It is an analyst-recognized leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. Trustwave was formed in 1995 and is based in Chicago, Illinois.


DEAL STATS #
Overall 6 of 9
Sector (Information Technology) 2 of 5
Type (Add-on Acquisition) 6 of 9
State (California) 2 of 3
Country (United States) 6 of 9
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-22 Breach Security

Carlsbad,, California, United States

Breach Security, Inc. is engaged in the designing and development of Web application integrity and security solutions that protect Web-based information.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-03 SecureConnect

Eden Prairie, Minnesota, United States

SecureConnect, Inc. is a provider of Internet security and payment card industry compliance services.businesses.

Buy -

Seller(S) 1

SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $100 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 18 of 45
Sector (Information Technology) 2 of 9
Type (Add-on Acquisition) 14 of 32
State (California) 1 of 3
Country (United States) 18 of 40
Year (2012) 3 of 3
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-24 iContact

Durham, North Carolina, United States

iContact is a provider of Software as a Service (SaaS) email and social media marketing solutions to small and medium-sized businesses.

Sell $179M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-20 Trustwave

Chicago, Illinois, United States

Trustwave is a cybersecurity company that reduces cyber risk and fortifies organizations against disruptive and damaging cyber threats. The company's comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimizes its client’s cyber investment, and improves security resilience. It is an analyst-recognized leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. Trustwave was formed in 1995 and is based in Chicago, Illinois.

Buy -