NEWS
UK mid-market private equity house Lyceum Capital has acquired security software company Clearswift for an undisclosed sum.
Clearswift provides software that deals with inbound threats, data loss, web access and compliance.
Headquartered near Reading, the company has 170 employees and has satellite offices in Germany, Spain, Japan, Australia, Holland and the US.
Customers include BAE Systems, Hitachi Solutions, Anpost, Warwick District Council, T-Mobile and Australia Postal Service.
The company was acquired from a group of venture capital firms including Amadeus Capital Partners, DFJ Esprit and Kennet. As part of the deal, Martin Leuw, former chief executive of IRIS Software, joins the board as chairman.
The company's area of expertise, email and web gateway security software, is expected to grow at an annual rate of 6.8 per cent, according to data from Ovum.
“The one size fits all anti-spam and anti-virus technologies many companies rely on is out-dated,” said Richard Turner, chief executive of Clearswift.
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