Websense has entered into an agreement to be acquired by Vista Equity Partners in a transaction valued at approximately $1 billion. J.P. Morgan Securities, RBC Capital Markets and Guggenheim Partners have agreed to provide debt financing in connection with the transaction.
Websense (NASDAQ: WBSN) specializes in computer security software which is used by customers including businesses, schools, and libraries, to protect their networks from malware, stop data theft, prevent students from viewing sexual or other inappropriate content, and discourage employees from spending time browsing non business-related websites. The company was founded in 1994 and is based in San Diego (www.websense.com).
“Vista shares a similar vision for the company, including a dedication to developing and delivering best-in-class cyber security to our customers,” said John McCormack, Websense CEO. “Vista brings an operational discipline that will enable us to continue to invest in the business and technology innovation.”
Vista Equity Partners has more than $7 billion in committed capital and makes equity investments in enterprise software businesses and technology-enabled services companies. The firm was founded in 2000 and has over 50 investment professionals operating out of Austin, Chicago, and San Francisco (www.vistaequitypartners.com).
“We are long-term investors in enterprise software and data companies that are committed to being leaders in their markets,” said Robert Smith, CEO and founder of Vista Equity Partners. “We are impressed with the Websense product suite and the compelling value proposition it offers to its customers. We look forward to working with the company to enable it to reach its full potential.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-20-13