Private equity house TZP Group has bought business security, monitoring, productivity and analytics software maker Awareness Technologies (ATI).
The deal is the firm’s first from its TZP Small Cap Partners II fund, a $250m-targeting fund which had registered close to $100m by February this year according to an SEC filing.
ATI provides employee productivity analytics and remote monitoring, web filtering, data loss prevention and laptop data recovery for business users, as well as software for parents to see where their children have been via GPS, as well as what they are texting and browsing on the web.
TZP partner Dan Gaspar said, “Awareness Technologies sits at the intersection of two strong trends that we have been tracking.
“We believe that trends toward increased remote work and work-from-home will continue even after the pandemic resolves and that businesses will seek solutions to help monitor productivity and ensure security amongst a remote workforce.
“On the consumer front, as the number of devices in the home continues to rise, ATI’s products offer a one-stop solution for parents to monitor their kids across multiple platforms.”
Kirkland & Ellis and Robinson+Cole provided legal counsel to TZP and the sellers, respectively.
TZP closed its third flagship private equity fund on $565m in 2017.
Earlier this year the firm revealed a pair of new partners among a string of new hires at the firm.
Erin O’Brien Edwards will focus on growth equity investments, while Justin Kulla will concentrate on impact investing.
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