WASHINGTON, Jan. 14 /PRNewswire/ -- Paladin Capital Group portfolio company CloudShield Technologies today announced that it has signed a definitive agreement to be acquired by SAIC (NYSE: SAI), a leading global technology company. CloudShield is a market leader in cybersecurity that counts among its customers five of the top telecommunications providers in the world, as well as the U.S. government and the governments of five other nations. In addition to Paladin, the company's backers include leading Silicon Valley venture capital firms Foundation Capital, TPG Ventures, and Fuse Capital.
"Matt Jones and Peder Jungck and the team at CloudShield have built a very exciting company that I am honored to have been a part of for the last six years," said Dr. Alf Andreassen, chairman of CloudShield's Board of Directors and managing director at Paladin Capital. "The acquisition by SAIC will give them a powerful platform from which to expand the business even more broadly in the coming years."
Headquartered in Sunnyvale, California, CloudShield is a market leader in deep packet inspection (DPI). DPI enables a broad set of applications that secure critical communications networks, prevent data loss, enable advanced billing and user management, and reduce the cost of traditional switching in the datacenter. The open architecture and programming language also allow customers and CloudShield partners to build their own applications to meet the unique needs of their businesses.
Since Paladin's first investment in 2004, the company has increased annual revenue tenfold. "Paladin has been instrumental in helping us reach federal customers, and our success in that sector has been one of the important drivers of our growth," said Matt Jones, CloudShield's chief executive officer.
"CloudShield recognized early the role that their products could play in the protection of critical networks and as a result have established themselves as a leader in cybersecurity," said Roger Cressey, a partner at Good Harbor consulting who previously served as a senior cybersecurity and counterterrorism official in the Clinton and Bush administrations.
About Paladin Capital Group
Headquartered in Washington, D.C., Paladin is an established private equity firm that provides investment capital for growing companies. Paladin has over $950 million under management in multiple funds with over 30 portfolio companies. Paladin invests in enterprises whose principal business centers on products and services that address homeland security issues and needs. Importantly, the funds' leadership comprises individuals with a proven track record of financial expertise, national security experience and specialized technical competence. For additional information, see www.paladincapgroup.com
SOURCE Paladin Capital Group