- The transaction is expected to close in the fourth quarter of 2022
- The capital infusion will be used for product development
- Jefferies LLC acted as financial advisor to Malwarebytes
Vector Capital is investing $100 million in cybersecurity firm California-based Malwarebytes.
As part of the transaction, Vector Capital Managing Directors Sandy Gill and Dave Fishman will join the company’s board of directors.
The capital infusion will be used for product development. The investment will also enable Malwarebytes to enhance and scale its international channel partner program and rapidly growing managed service provider business.
Malwarebytes was founded in 2008.
Sandy Gill, a managing director at Vector Capital, said in a statement, “Malwarebytes is a global market leader with one of the most widely recognized brands in cyber remediation and protection. It has become an essential business that keeps the internet safer for millions of people and organizations worldwide every day. We look forward to supporting the company by leveraging our strong track record in building and scaling technology companies and working alongside management to further accelerate growth across both the consumer and corporate business lines.”
The funding by Vector Capital follows investments led by Highland Capital Partners and Fidelity Management and Research Company.
The transaction is expected to close in the fourth quarter of 2022.
Paul Hastings LLP acted as legal counsel for Vector Capital. Fenwick & West LLP acted as legal counsel for Malwarebytes and Jefferies LLC acted as its exclusive financial advisor.
Vector Capital invests in technology and technology-enabled businesses. Founded in 1997, Vector oversees approximately $4 billion of capital across its private equity and credit strategies from a variety of investors including university endowments, foundations, and financial institutions.