Providence Acquires VendorSafe Technologies
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Providence Acquires VendorSafe Technologies

vendor nf1Providence Equity Partners has acquired VendorSafe Technologies, a provider of cloud-managed IT security services.  Upon closing of the transaction, the VendorSafe board of directors has named Kevin Watson, a Providence Equity Senior Advisor and cyber security industry veteran, as the company’s new Chief Executive Officer.

VendorSafe is a provider of cloud-managed IT security services that protect small- and medium-sized business’ information, payment systems, and on-premise public and private Wi-Fi networks from data breaches and other risks posed by hackers. Customers include retailers, quick serve restaurants and grocers among others.  The company is headquartered in Houston (www.vendorsafe.com).

kevin watson nf1“I am excited to join the VendorSafe team, as the company is very well positioned to address the rapidly expanding market opportunity driven by growing breach awareness in the small business community,” said Mr. Watson. “With more than 80% of breach attacks targeting small businesses, VendorSafe’s implementation technology uniquely positions us to address this growing segment of the market.”

Providence plans to assist VendorSafe in expanding into new markets such as hospitality, healthcare, legal, and insurance, and to expand into other geographic regions. Providence will also invest in VendorSafe’s technological infrastructure to allow it to expand its product offerings within cloud-managed network and wireless security.

“VendorSafe fits well with our investment strategy of identifying profitable growth companies that leverage cloud technology to deliver mission critical services to attractive end markets,” said Marco Ferrari, principal at Providence. “We are excited that Kevin Watson is joining VendorSafe as CEO. Kevin is a proven leader and an excellent complement to the existing VendorSafe team.”

Providence Equity Partners invests in the media, entertainment, communications and information industries and has approximately $40 billion of capital under management. The firm was founded in 1989 and is based in Providence with additional offices in New York, London, New Delhi, Hong Kong, and Beijing (www.provequity.com).

2014 PEPD • Private Equity’s Leading News Magazine • 11-20-14

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