Blackstone buys most of Accuvant, valuing firm at about $225 mln
BOSTON, March 11
BOSTON, March 11 (Reuters) - Blackstone Group, the world's biggest alternative asset manager, said on Tuesday it has agreed to buy most of cybersecurity firm Accuvant Inc from investment firm Sverica International.
Blackstone will own about 80 percent of Accuvant following completion of the deal, which values the company at about $225 million, according to a person familiar with details of the transaction.
Executives with the Denver-based firm will own about 10 percent of its shares and Sverica, a private equity firm, will retain a minority stake, according to the person who was not authorized to discuss terms of the deal.
Sverica said in a statement that it expects the deal to close in the next 30 to 45 days.
Representatives of Blackstone and Accuvant declined comment on terms of the transaction. Sverica officials could not be reached.
Accuvant, which was founded in 2002, sells security products, provides technical research and offers consulting services to big corporations and government agencies. Its partners include Blue Coat systems, Intel Corp's security division and Palo Alto Networks Inc.
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