Vista Equity Partners (Vista), a global investment firm for enterprise software, data and technology-enabled businesses, has acquired KnowBe4 for $24.90 per share in cash.
“Today’s acquisition is a significant milestone for the entire KnowBe4 team. It’s representative of our achievements to date, as well as our potential for continued long-term growth,” says Stu Sjouwerman, founder, Chairman and CEO of KnowBe4.
“Vista provides the resources and operational expertise to enhance customer value. We’re thrilled to embark on this next chapter and realise our goals for addressing cybersecurity’s weakest link.”
Completing this transaction means KnowBe4 shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.
“The human element remains one of the most important yet neglected aspects of cybersecurity,” says Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director.
“The opportunity to scale a business that is truly mission-critical to enterprises around the world is core to Vista’s investment approach and value creation efforts.
"This, combined with Stu’s track record as a visionary founder and KnowBe4’s demonstrated product leadership, makes partnering with the Company very exciting.”
Morgan Stanley & Co. served as financial advisor, and Potter Anderson & Corroon served as legal counsel to KnowBe4’s Special Committee.
Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor to KnowBe4.
Guggenheim Securities served as financial advisor, and Kirkland & Ellis served as legal counsel for Vista.
The completion of this acquisition comes after KnowBe4 announced its 2023 cybersecurity predictions from its team of industry experts.
The top five predicted cybersecurity trends for the coming year include:
A rise in catastrophic attacks on critical infrastructure
It is also likely that a major outage ..
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