Marlin Equity Partners has acquired a majority stake in cybersecurity solution services AppRiver, in an undisclosed deal.
Following the investment AppRiver founders will retain a minority share in the company and continue to run the business from its headquarters in Florida.
Founded in 2002, the company is an e-mail spam and virus filtering company which has grown to offer web malware protection, email encryption, secure archiving and email continuity services. The platform is used in a range of sectors including financial services, insurance and healthcare, among others. For financial services the platform is able to cover a company for a range of regulations like GLBA, PCI, SOX and SEC, among others.
Currently the company has offices in Florida, Georgia, Texas, New York, Spain and Switzerland, with the solution used by over 53,000 companies across the world.
This new investment will help the company to expand its global presence, through organic and inorganic opportunities.
Marlin principal Peter Chung said, “AppRiver is ideally positioned to lead and innovate in today’s security-conscious environment as businesses of all sizes continue to transition to a cloud-based deployment model.”
Earlier this year Marlin Equity Partners acquired Swedish invoice automation platform Medius, to help the company with global expansion.
The cybersecurity sector has seen a huge boost in funding this year, with Q2 2017 seeing around $863m deployed, which is more than the combined total of the fiver previous quarters.
Copyright © 2017 FinTech Global
