Global leader in cloud-based website security solutions – SiteLock, has announced that it has been acquired by the leading private equity firm – ABRY Partners.
SiteLock’s CEO and President – Neill Feather, considers this acquisition an opportunity to accelerate the company’s growth and increase its cybersecurity product portfolio.
SiteLock provides cloud-based website security solutions and protects more than 12 million websites around the globe. Its primary mission is to protect organizations from the ever-increasing cyberthreats and attacks.
St. Jean, Partner at ABRY Partners, considers Acquisition of SiteLock by ABRY Partners as a strategic step towards supporting their innovation across new products, both organically and inorganically.
He said, “As threats become more complex and frequent, organizations need a comprehensive and reliable solution to protect their online presence. We believe SiteLock is well positioned to continue to be the go-to partner for website security needs.”
Cyberattacks are becoming more and more hazardous these days with the high-risk probability of data breach, loss and theft.
“During the fourth quarter of 2017 the average website experienced more than 44 attacks per day, and there was a 90 percent rise in the number of businesses targeted by ransomware for a total $5 billion financial impact. We are excited to work with the team at ABRY to continue to develop new products and solutions to support and protect our customers.” – said Feather. More such findings were revealed in the SiteLock Website Security Insider Q4 2017 report.
Tomas Gorny – CEO of UnitedWeb Inc. (former parent company) also commented on the acquisition and said, “We’re proud to have supported SiteLock for more than 10 years as it has grown to become the leading provider of website security solutions.”
SiteLock was also named as the fastest growing software company in Arizona by Deloitte.
On the other hand, ABRY Partners, with an expertise of almost 30 years in media, communications, business services and information sector, stands as one of the most experienced private equity firms investing in North America and Europe regions.
Acquisition of SiteLock by ABRY Partners will help SiteLock extend its services in the small and medium sized business (SMB) market.
The financial terms of the deal have not been revealed yet, though the deal was closed on 5th April 2018, as per the market reports.