From Private Equity News
Paris-based private equity firm Jolt Capital has fully exited its investment in Verimatrix, a publicly-listed cybersecurity company.
The firm sold over three million shares it held in the company to US-based group One Equity Partners in an off-market transaction, but did not disclose any other financial details. At its current share price of €1.78, the shares would have been worth approximately €5.4m.
One Equity Partners, which invested in Verimatrix in 2019 initially, has increased its shareholding from 25.49% to 29.04%, according to a statement.
Headquartered in France, Verimatrix provides cybersecurity solutions to protect content, devices, software and applications for 1,000 customers in over 113 countries, according to its website.
Amedeo D’Angelo, Verimatrix’s chairman and chief executive officer said: “I want to thank Jolt Capital for having supported our transformation and growth strategy for the last four years. In parallel, it is good and encouraging to see the renewed support of our cornerstone investor OEP.”
Cybersecurity companies have become a popular investment for private equity firms since the Covid-19 outbreak saw an increasing number of employees working from home, which potentially leaves online systems more vulnerable.
Last month, a BlackRock unit increased its stake in US cybersecurity company Cofense, which provides cybersecurity services to large US corporations and multiple branches of the US government. Similarly, Investcorp acquired German cybersecurity company Avira for $180m.
Elsewhere, cybersecurity-focused exchange-traded funds are also experiencing a boom, Private Equity News’s sister title Financial News recently reported. A cybersecurity ETF managed by US-based First Trust Advisors gathered some $307m during the first four months of 2020 – a 521% increase on the same period last year, according to data from Morningstar,
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