Investcorp buys US IT security company FishNet
Bahrain investment company buys major US security services provider
Bahrain's Investcorp has bought a majority stake in FishNet Security, a US-based IT security solutions and services company.
FishNet provides IT security technology, services, support and training to around 5,000 customer organisations worldwide, including most of the Fortune 100 and Fortune 500 businesses in the United States. The company also has a number of US Federal Government customers. CRN magazine awarded FishNet its VAR500 Technology Practice- Security of the year award in 2011.
The company is privately held, although in 2011 it grew revenue by 34% year-on-year, to exceed $422million, according to Gary Fish, founder and CEO of FishNet Security in a 2012 interview.
Financial details of the deal were not disclosed.
Mohammed Al-Shroogi, president for Gulf Business at Investcorp said: "Businesses are placing increased emphasis on the importance of identifying and mitigating information security risks and FishNet is ideally positioned to capitalize on these growth opportunities and to help drive advancements in the information security sector further."
Fish added: "We are very excited to be working with Investcorp's exceptional team both in North America and Europe."