Cybersecurity providers Fishtech Group and Herjavec Group have announced their merger, backed by funds advised by Apax Partners LLP. The two companies will operate as a single entity under a new brand to be announced early this year.
The Apax Funds will hold a majority stake in the new company while Robert Herjavec, Founder & CEO of Herjavec Group and star of ABC’s “Shark Tank,” and Gary Fish, Founder and CEO of Fishtech Group, will each maintain significant equity in the new business.
Robert Herjavec, founder of Herjavec Group, will serve as Chief Executive Officer of the combined entity. Gary Fish, founder of Fishtech Group, will serve as Chairman of the Board. They will actively work to continue their track record of customer-focused success. The financial terms of the transaction (which is subject to applicable regulatory approvals) are not disclosed.
The deal is expected to establish an industry powerhouse with a broad suite of managed detection and response capabilities (MDR), professional services, and identity offerings.
The new organization brings together more than 600 security professionals operating out of 6 security operations centers (SOCs): Kansas City, Toronto, London, Ottawa, Arkansas, and Bangalore.
“We could not be more thrilled to join forces with industry pioneer Gary Fish, whom I have known for decades,” said Robert Herjavec, CEO of Herjavec Group. “We are very impressed by Fishtech’s MDR offerings and its proprietary platform built on Google Chronicle, which we consider highly differentiated. Jointly, we want to double down on the investment behind this market-leading solution and strengthen what are already deep partnerships.”
International sales efforts and differentiated technologies are particularly targeted for expansion.
The merger is expected to enable the combined company to provide customers with extensive security and cloud expertise, driving security maturity as a competitive differentiator via advanced technology and services across the industry landscape.