TA Associates buys into Updata Partners-backed cybersecurity business Netwrix


Global private equity major TA Associates has picked cybersecurity business Netwrix as its latest investment.

TA said it plans to accelerate Netwrix’s growth as the company expands its portfolio of easy-to-use data security solutions.

Existing Netwrix investor Updata Partners will invest alongside TA, which has taken a majority stake, and will keep a significant equity interest in the company.

Netwrix’s business model focuses on what it says is an ‘underserved’ mid-market for easy-to-use data security solutions, in organisations with 500 to 10,000 employees.

TA senior vice president Michael Libert said, “With its powerful, easy-to-use products and streamlined business model, Netwrix has become a leading provider of data security products for the mid-enterprise market.

“Netwrix has an abundance of security, audit and compliance experience and more than 7,000 paying organizations that are deriving value from their experience with Netwrix.”

Updata general partner Jon Seeber added, “It has been a pleasure working with the Netwrix team for the past three years and aiding in the company’s impressive and transformative growth.

“With what we believe to be superior products and services, Netwrix has become a valued provider in security and compliance. We are pleased to welcome TA as an investor, and to continue our partnership with Netwrix.”

Earlier this month TA Associates agreed to buy into Stirling Square Capital Partners portfolio business DOCU Nordic Group, a provider of business intelligence and data analytics services within the construction, real estate and healthcare markets.

Copyright © 2020 AltAssets

Get the latest PE News & Research delivered to your inbox every morning