The 10 Biggest Cybersecurity Acquisitions Of 2021 (So Far)
Private equity goliaths, SPACs, and pure-play security mainstays spent nearly $31 billion on the year‘s top cybersecurity acquisitions, placing big bets on securing networks and endpoints as well as managing employee and customer access.
T-9. TPG Capital Acquires Centrify
Purchase Price: $900 Million (Momentum Cyber)
Centrify got its third owner and fourth top executive in less than three years after the company was purchased by private equity firm TPG Capital and selected Art Gilliland as CEO. TPG’s buy of Centrify from Thoma Bravo came just two-and-a-half years after Thoma Bravo acquired a controlling stake in the firm from venture capital firms Mayfield, Accel Partners, Jackson Square Ventures, and Index Ventures.
The company in January tapped Gilliland, the former head of Symantec Enterprise and CEO of Skyport Systems, to be its next leader. The move came just seven months after Centrify brought in top CollabNet executive Flint Brenton to serve as its president and CEO.
“As a result of many accelerating IT trends – including faster digital transformation, accelerated cloud adoption, and agile DevOps practices – enterprises need to manage and protect more privileged accounts than ever before,” TPG’s Tim Millikin said. “We believe PAM is one of the most important and strategic sub-sectors of security software, and Centrify is a clear market leader in this space.”