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Vista looking to sell network-security firm Websense -Bloomberg

(Reuters) – U.S. private equity firm Vista Equity Partners LLC has hired Citigroup Inc to help it find a buyer for network-security company Websense Inc, Bloomberg reported on Thursday, citing sources.

Websense, which was acquired by Vista for more than $900 million in 2013, could be valued at more than $1 billion, but no deal is imminent and there is no guarantee a sale will occur, the report said.

Both Vista and Citi were not immediately available for comment.

A strong demand for cybersecurity technology has emerged following a spate of high-profile breaches that have crippled businesses and rattled conglomerates such as Sony Corp and Target Corp.

Earlier this week, Bain Capital LLC said it would acquire Blue Coat Systems Inc from fellow private equity firm Thoma Bravo LLC in a deal that the network security company said would value it at about $2.4 billion, including debt.

Austin-based Websense, which agreed to go private after Vista acquired it, makes software to protect organizations from advanced cyberattacks and data theft.

U.S.-based Vista invests primarily in software companies, and has offices in Austin, Chicago and San Francisco.