Permira portfolio company Mimecast Ltd. on Wednesday, July 24, said it’s acquired cybersecurity software company Code42 Software Inc.
The London-based human risk management platform said the acquisition will enable Mimecast to aid organizations in managing and mitigating human-centered security risks. Mimecast, which did not disclose the terms of the transaction, added that it will continue to maintain and support Code42’s existing customer base. The acquisition will enable businesses to gain strategic visibility and insight across the expanding attack surface.
Code42, a portfolio holding of Accel Partners LP, JMI Equity, New Enterprise Associates Inc. and Split Rock Partners LLC, provides cloud-native insider threat management and data loss prevention capabilities. The Minneapolis company enables companies to protect critical data from exposure, loss, leak and theft, and augment incident response times.
In October 2015, Code42 raised $85 million in Series B funding led by JMI Equity and New Enterprise Associates, with participation from Accel Partners and Split Rock Partners.
The Deal in November said Code42 was ripe for a potential exit.
Baltimore-based private equity firm JMI Equity invests in the cloud, education, energy, utilities, real estate, digital resources and workforce management sectors.
Menlo Park, Calif.-based venture capital firm New Enterprise Associates invest in technology and healthcare companies.
Palo Alto, Calif.-based venture capital firm Accel Partners invests in technology companies from inception through all phases of private company growth.
Eden Prairie, Minn.-based investment firm Split Rock Partners invests in software, internet services and healthcare companies.
London-based investment firm Permira acquired Mimecast for $5.8 billion in May 2022. Mimecast recently launched its connected human resources management platform, Mimecast Engage, with the integration of Elevate Security Inc., acquired in January.
Permira focuses on the technology, consumer, healthcare and services sectors. On Wednesday, Permira along with Clayton, Dubilier & Rice LLC agreed to acquire a 66.7% stake in Exclusive Networks SA for €24.25 a share, in a deal valuing the company’s equity at $2.4 billion.
Code42 tapped Piper Sandler Cos. for financial advice.
A Latham & Watkins LLP team led by Amber Banks and Richard Quay was counsel to Mimecast.
Editor’s note: The original version of this article was published July 26, 2024, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.
