SANTA MONICA, Calif. and BEDFORD, Mass., Aug. 12, 2021 /PRNewswire/ -- Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") today announced that it has completed its strategic equity investment in RSA Security LLC ("RSA" or the "Company"). RSA is a global provider of mission critical cybersecurity software and governance risk and compliance management software solutions to enterprises, including 90% of Fortune 100 organizations. With this investment, Clearlake becomes an equal partner with Symphony Technology Group ("STG"), which initially acquired the business in 2020 alongside Ontario Teachers' Pension Plan Board ("Ontario Teachers'") from Dell Technologies. Ontario Teachers' remains a significant minority shareholder. Terms of the transaction were not disclosed.
Headquartered in Bedford, Massachusetts, RSA provides enterprise risk, security and fraud teams with the ability to holistically manage digital risk, including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention. Specifically, the Company includes the key business segments of:
Archer, a pioneer and market leading provider of governance, risk and compliance ("GRC") software;
SecurID, a globally trusted identity and access management software platform;
NetWitness, a leading evolved SIEM and extended threat detection and response (XDR) software platform;
Outseer, an omnichannel fraud prevention software suite; and
RSA Conference, the world's largest gathering of cybersecurity and risk management vendors, practitioners and top-level executives.
Founded in 1982, RSA has built a reputation over four decades of being a critical solution provider for security-sensitive customers and an innovation leader that enables enterprises to address rapidly evolving risks and security threats. Today, RSA services 2 billion individual users and has 26 million enterprise identities under management, and more than 12,500 customers rely on RSA's software solutions to enable their digital transformation, address increasingly advanced cyber threats and adapt to more complex digital regulations.
"Clearlake's investment in RSA comes at an opportune time and will support the Company as it looks to accelerate innovation in the key cybersecurity and risk management markets in which we operate," said Rohit Ghai, Chief Executive Officer of RSA. "We are thrilled to partner with Clearlake and look forward to leveraging their proprietary O.P.S.® framework to continue to deliver best-in-class software to a large and growing global customer base."
"RSA is a pioneer in the cybersecurity and risk management markets and its mission critical software solutions are more relevant than ever in today's marketplace," said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. "We believe the robust market growth and strong secular tailwinds underpinning RSA's leadership position as well as STG's successful efforts to establish RSA as a standalone company have positioned the Company well for continuing to serve its blue-chip customer base. We look forward to partnering with STG in transforming the business and investing to accelerate both organic and inorganic growth."
"Clearlake's distinguished track record of investing in leading software companies, as well as their deep understanding of the growing importance of RSA's risk and cybersecurity solutions in the digital age, made them a perfect partner for us in helping RSA during its next phase of growth," said William Chisholm, Managing Partner of STG.
About RSA RSA, a leader in cybersecurity and risk management solutions, provides organizations with technology to address challenges across security, risk management and fraud prevention in the digital era. RSA solutions are designed to effectively detect and respond to advanced attacks; manage user access control; and reduce operational risk, fraud and cybercrime. RSA protects millions of users around the world and helps more than 90 percent of the Fortune 100 companies thrive and continuously adapt to transformational change.
About Clearlake Clearlake is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials and consumer. Clearlake currently has approximately $39 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at https://www.clearlake.com.
About Symphony Technology Group Symphony Technology Group is the private equity partner to market leading companies in data, software, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world class management teams. STG's expansive portfolio has consisted of more than 35 global companies. For more information, please visit www.stgpartners.com.
About Ontario Teachers' Pension Plan Board Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with $221.2 billion in net assets (all figures at December 31, 2020). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region offices are located in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 331,000 active and retired teachers. For more information, visitotpp.comand follow us on [email protected]