Manchester's Avecto acquired by US technology group
Manchester-based cyber security company Avecto has been acquired by an American technology group.
Avecto’s Defendpoint software is used by some of the world's biggest companies to protect against ‘privileged access’ attacks while improving compliance, productivity and performance.
It has offices in the UK, United States and Germany and announced record revenues of £23.5 million in August, representing growth of 51 per cent on the previous year.
The results represented nine years of consecutive revenue growth for the firm since it was established in 2008.
It has now been acquired by Bomgar, a leader in identity and access management solutions for privileged users, in a deal which is expected to close at the end of this month.
"We're thrilled to join the Bomgar family and jointly lead the market in developing solutions that address today’s most pervasive and dangerous challenges,” said Mark Austin, co-founder and co-CEO of Avecto.
His business partner Paul Kenyon said: "It's exciting to be joining a company that genuinely cares as much as Avecto does about its employees, customers, and partners.
"The combination of our teams will not only ensure Avecto’s customers and partners continue to receive the stellar service and support that is a hallmark of our business, but also benefit from the additional solutions and capabilities that Bomgar brings to the table."
Matt Dircks, CEO of Bomgar, said: "Our companies share a passion for developing security solutions that users love because they're quick to deploy, intuitive, and don't impede productivity.
“We're excited to combine forces with Avecto’s team, customers, and partners to develop new, innovative ways to mitigate the risks of privileged threats."
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