C5 Capital sells Hungarian IT security company Balabit to One Identity
Tech business news : C5 Capital, a London-based tech investment company has divested its portfolio company – Balabit, a Hungarian IT security company to One Identity, a subsidiary of US-based Quest Software for an undisclosed price.
Balabit specializes in providing advanced monitoring technologies to protect enterprises and governments against insider threats. The Hungarian IT security company provides privileged access management (PAM), privileged account analytics as well as log management solutions that help enterprises in cutting down on the risk of data breaches associated with privileged accounts.
In 2014, C5 Capital made its first investment in Balabit and followed it up with a second investment under the Cyber Partners Fund.
C5 Capital says that since then, Balabit has emerged from being a regional, European cyber security software provider to a leading privileged access management provider in the world, with a strong base in the US market.
Further, the tech investment company says that during its ownership tenure, Balabit had more than doubled its worldwide sales.
Commenting on C5 Capital sale of Balabit to One Identity, Andre Pienaar – Managing Partner of C5 Capital, said: “The sale is a testament to the C5 investment strategy, with our team identifying the potential of Balabit and its offer. We were then able to leverage our expertise and global relationships to help them on their journey and gain a foothold in the US market.
“There is growing US interest in European cyber security companies and this acquisition is a testament to the value embedded in Balabit. We are very pleased to have worked so closely with Balabit and wish the company every success.”
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