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Funds advised by Apax Partners recently confirmed the signing of a definitive agreement to acquire a majority stake of Herjavec Group (HG).
FREMONT, CA: Funds advised by Apax Partners recently confirmed the signing of a definitive agreement to acquire a majority stake of Herjavec Group (HG), an award-winning multinational Managed Security Services Provider (MSSP) and pioneer of cyber operations. Founder & CEO Robert Herjavec will remain a significant stakeholder and Chief Executive Officer (CEO). The transaction's financial terms (which are subject to applicable regulatory approvals) have not been disclosed.
The Herjavec Group, founded in 2003, has been recognized as one of the most revolutionary cybersecurity companies globally, with the primary goal of protecting businesses globally from emerging cyber threats. Herjavec Group has received accolades from industry observers such as Gartner, Forrester, IDC, and MSSP Alert. It has even built a worldwide reputation for attracting top security talent. It is continually evolving its cyber services, including Cybersecurity Advisory Services, Architecture & Deployment of best breed technology, Identity & Access Management, 24/7 Managed Security Services, Threat Management, and Incident Response.
In collaboration with the HG management team, the Apax Funds will focus on developing the impressive growth rate of the organization by increasing international expansion activities, improving the talented team of HG with additional threat & identity capital, and further developing the proprietary platforms of HG Identity and HG SOAR.
Robert Herjavec, Founder & CEO of Herjavec Group, said, "I couldn't be more thrilled to welcome the Apax Partners team to Herjavec Group. Over the past seventeen years, HG has remained steadfast in our mission to make enterprises around the world more secure. We have succeeded in that effort by developing an industry-leading 24/7 Managed Security Services practice, by advancing our proprietary IP, by diversifying our offerings to include Advisory, Managed Detection & Response, Identity and Incident Response services, and by hiring what I fundamentally believe is the very best team in the world. This acquisition and the growth funding that results is a testament to our entire team, and to our loyal customer base who has entrusted us with their mission critical assets. I am excited for this next phase in our growth trajectory as we continue to earn their trust by expanding our localized support models, deepening our Managed Security Services offerings and furthering our platform development to drive incremental automation, efficiency and security ROI."