Clearlake Capital, TA Associates Investing in DigiCert Inc.
July 09 2019 - 1:39PM
Dow Jones News
By Colin Kellaher
Private-equity firms Clearlake Capital Group L.P. and TA
Associates will invest an undisclosed amount to become equal
partners in DigiCert Inc., the web-certification company said
Tuesday.
DigiCert said Chief Executive John Merrill and its current
management are investing alongside Clearlake and TA, and will
continue to lead the Lehi, Utah, company, which was founded in
2003.
Boston-based TA Associates in 2012 invested an undisclosed
amount for a majority stake in DigiCert. Private-equity firm Thoma
Bravo LLC in late 2015 acquired a majority stake in DigiCert, with
TA Associates retaining a minority interest.
Cybersecurity firm Symantec Corp. (SYMC) in late 2017 sold its
website-security business to DigiCert for about $950 million in
cash and a roughly 28% stake in DigiCert, valued at the time at
$160 million. In a May filing with the Securities and Exchange
Commission, Symantec said it had reduced the carrying value of its
DigiCert stake to $32 million as of March 29.
DigiCert posted revenue of $313 million, a gross profit of $250
million and a net loss of $342 million last year, according to
Symantec's SEC filing.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 09, 2019 13:24 ET (17:24 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Symantec (NASDAQ:SYMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Symantec (NASDAQ:SYMC)
Historical Stock Chart
From Apr 2023 to Apr 2024