The financial terms of the transaction have not been disclosed; however, Herald Chen, co-head of KKR’s technology, media and telecom investment team, said the firm’s goal is to accelerate investment in Optiv’s product and service capabilities to expand its presence. In the last three years, Optiv has worked with 7,500 clients in 76 countries.
“Cybersecurity has been a growing focus and pain point for companies over the last decade, and is now one of the highest priorities for global enterprises,” Mr. Chen said. “We have been following the cyber security sector very closely over the past several years and believe Optiv represents an attractive investment opportunity given its market leadership as a critical partner and advisor to the Global 1000.”
Prior to this agreement, Optiv’s majority stake was held by a group of private investors, including a private equity fund managed by Blackstone. The fund will maintain minority interest in Optiv.
More articles on health IT:
Healthcare receives ‘D’ grade on Tenable cybersecurity report card
Study: Adults with low health literacy less likely to adopt health IT tools
IBM rolls out Watson for Cybersecurity at 40 organizations
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.