Clearlake Capital has made an investment in Bedford, Massachusetts-based RSA Security LLC, a provider of cybersecurity software and governance risk and compliance management software solutions to businesses. No financial terms were disclosed. As a result of this deal, Clearlake will become an equal partner with Symphony Technology Group, which acquired RSA in 2020 alongside Ontario Teachers’ Pension Plan Board from Dell Technologies. Moving Forward, Ontario Teachers will retain a significant minority stake in RSA.
SANTA MONICA, Calif. and BEDFORD, Mass., Aug. 12, 2021 /PRNewswire/ — Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has completed its strategic equity investment in RSA Security LLC (“RSA” or the “Company”). RSA is a global provider of mission critical cybersecurity software and governance risk and compliance management software solutions to enterprises, including 90% of Fortune 100 organizations. With this investment, Clearlake becomes an equal partner with Symphony Technology Group (“STG”), which initially acquired the business in 2020 alongside Ontario Teachers’ Pension Plan Board (“Ontario Teachers'”) from Dell Technologies. Ontario Teachers’ remains a significant minority shareholder. Terms of the transaction were not disclosed.
Headquartered in Bedford, Massachusetts, RSA provides enterprise risk, security and fraud teams with the ability to holistically manage digital risk, including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention. Specifically, the Company includes the key business segments of:
Archer, a pioneer and market leading provider of governance, risk and compliance (“GRC”) software;
SecurID, a globally trusted identity and access management software platform;
NetWitness, a leading evolved SIEM and extended threat detection and response (XDR) software platform;
Outseer, an omnichannel fraud prevention software suite; and
RSA Conference, the world’s largest gathering of cybersecurity and risk management vendors, practitioners and top-level executives.
Founded in 1982, RSA has built a reputation over four decades of being a critical solution provider for security-sensitive customers and an innovation leader that enables enterprises to address rapidly evolving risks and security threats. Today, RSA services 2 billion individual users and has 26 million enterprise identities under management, and more than 12,500 customers rely on RSA’s software solutions to enable their digital transformation, address increasingly advanced cyber threats and adapt to more complex digital regulations.
“Clearlake’s investment in RSA comes at an opportune time and will support the Company as it looks to accelerate innovation in the key cybersecurity and risk management markets in which we operate,” said Rohit Ghai, Chief Executive Officer of RSA. “We are thrilled to partner with Clearlake and look forward to leveraging their proprietary O.P.S.® framework to continue to deliver best-in-class software to a large and growing global customer base.”
“RSA is a pioneer in the cybersecurity and risk management markets and its mission critical software solutions are more relevant than ever in today’s marketplace,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We believe the robust market growth and strong secular tailwinds underpinning RSA’s leadership position as well as STG’s successful efforts to establish RSA as a standalone company have positioned the Company well for continuing to serve its blue-chip customer base. We look forward to partnering with STG in transforming the business and investing to accelerate both organic and inorganic growth.”
“Clearlake’s distinguished track record of investing in leading software companies, as well as their deep understanding of the growing importance of RSA’s risk and cybersecurity solutions in the digital age, made them a perfect partner for us in helping RSA during its next phase of growth,” said William Chisholm, Managing Partner of STG.
RSA, a leader in cybersecurity and risk management solutions, provides organizations with technology to address challenges across security, risk management and fraud prevention in the digital era. RSA solutions are designed to effectively detect and respond to advanced attacks; manage user access control; and reduce operational risk, fraud and cybercrime. RSA protects millions of users around the world and helps more than 90 percent of the Fortune 100 companies thrive and continuously adapt to transformational change.