Optiv Security closed its acquisition by private equity firm KKR & Co. on Wednesday, a move that now allows the solution provider to turn its sights to the global security market.
Optiv announced in December that it planned to be acquired by KKR, a deal worth an estimated $2 billion. Optiv's previous owner, the Blackstone Group, helped form the company by helping orchestrate the merger of Accuvant and FishNet Security. Blackstone will maintain a minority interest in the Optiv.
At the time the Optiv acquisition was announced, CEO Dan Burns told CRN the deal would allow Optiv to expand globally, a strategy that will likely include more acquisitions. As one of the world's largest private equity firms, with investments and locations around the globe, Burns said KKR would prove critical as Optiv looks to establish its foothold in some nations and expand its footprint in others.
Burns had said that having KKR as a parent would also allow Optiv to invest further in its cloud security portfolio. That push will lead to additional investments to ancillary technology areas, such as identity and access management, DLP, data security and services, he said.
Optiv had played an influential role in the security market since early 2015 when it was formed from the merger between security powerhouses Accuvant and FishNet Security. Blackstone had owned Accuvant, and the combined companies created a $1.5 billion security behemoth, which began doing business under the name Optiv in April 2015.
Optiv has continued to expand since the merger, unveiling the acquisitions of identity and access management company Advancive in April; third-party risk application company Evantix in May; and New England security solution provider Adaptive Communications in June.
In a statement about the closing of the acquisition, Burns said the deal will allow Optiv to be the "world's most advanced, most comprehensive and most trusted partner for cyber security solutions."
“Our new partnership with KKR gives us the resources we need to better help global clients address their full range of cyber risk and security needs, allowing us to ultimately achieve our vision. We look forward to working closely with KKR to successfully execute on our long-term strategy, and to bring maximum value to our clients, employees, partners and shareholders," Burns said in the statement.