GI Partners’ recent deal for Sectigo valued the provider of automated digital identity management at approximately $900 million, sources familiar with the deal terms told PE Hub.
The deal agreement, announced Wednesday, will provide an exit for existing investor Francisco Partners.
GI Partners is set to support the acceleration of Sectigo’s security innovations and growth as the company expands worldwide, the firm said.
Sectigo, based in Roseland, New Jersey, provides digital identity solutions, including transport layer security (TLS) and secure sockets layer (SSL) certificates, DevOps, internet of things, enterprise-grade public key infrastructure (PKI) management, and multi-layered web security.
The company has more than 700,000 customers worldwide, including brands such as Intel, Vanguard, Tiffany & Co and Red Bull.
The company’s new valuation translates into roughly 10x Sectigo’s revenue, one of the sources said.
According to another source, the company generates around $50 million in EBITDA.
UBS Group served as financial advisor to Sectigo, while Jefferies provided financial advice to GI Partners.
GI Partners, for its part, has also been busy outside of dealmaking.
The firm last week announced it has raised its inaugural Data Infrastructure Fund, which totaled $1.8 billion in commitments from a broad group of investors, according to the firm’s announcement.
The fund was oversubscribed and surpassed its initial target of $1.25 billion, GI Partners said.
GI Partners, Sectigo and Jefferies declined to comment. Francisco Partners and UBS Group did not return PE Hub’s request for comment.
Action Item: See GI Partners’ recent form ADV here.