An affiliate of Veritas Capital will purchase cybersecurity firm BeyondTrust from Insight Venture Partners for an undisclosed sum in a move to pursue growth with enterprise and government clients.
“We expect the cybersecurity market to benefit from increasing regulatory/compliance requirements, high-profile breaches and complexity of the IT environment, ” Hugh Evans, a partner at Veritas Capital, said Tuesday.
BeyondTrust President and CEO Kevin Hickey also highlighted his company’s focus on expanding to new markets as well as across existing ones.
BeyondTrust provides cybersecurity and risk management services to customers in the financial, government, aerospace and defense, technology, healthcare and other sectors.
Evercore advised the company on the financial aspect of the acquisition.
