Security software vendor, Clearswift, has been acquired by UK-based capital firm, Lyceum Capital.
The acquisition is good news all around, according to Clearswift regional director, Phil Vasic.
It represents confidence in the company at a time when the European markets lack confidence, it gives Clearswift access to greater levels of capital, and as a result of the acquisition the local operation won’t be impacted on in terms of staff numbers.
“It allows us to build on and expand our capabilities,” Vasic said. “We’re already quite advanced in the planning of our strategies going forward, which we will make public in the January/ February time frame next year.
“The acquisition will also allow us to deliver new technology in shorter timeframes.”
Co-founder of Lyceum Capital, Jeremy Hand, will join the board of Clearswift as a result of the acquisition.
In a release, he said, “In Clearswift, we are backing an exciting company which deploys world-class technical expertise and software solutions across an exceptionally impressive and loyal customer base.
"With an already strong management team bolstered by the arrival of Martin and our strategic, operational and financial input, we’re expecting Clearswift to continue with its strong organic growth supplemented with targeted acquisitions.”
Clearswift is just one of a number of major acquisitions by Lyceum, and joins a £30 million acquisition of leading managed IT services provider Adapt in September, and a £50 million investment in Access, a Software-as-a-Service (SaaS) based accounting and enterprise resource planning (ERP) software and services business, which completed in March.