Magenta Buyer LLC Raises $400 Million of New Capital
August 14 2024 - 5:42PM
Business Wire
Transaction reduces debt and extends
maturities
Magenta Buyer LLC (dba Trellix and Skyhigh Security), a leader
in delivering market-leading cybersecurity solutions and
best-in-class technology to customers around the world, today
announced the successful closing of a transaction with a
substantial majority of holders of its existing first lien and
second lien term loans due in 2028 and 2029.
Magenta Buyer LLC raised $400 million of new capital, extended
debt maturities, and de-levered its balance sheet in the
transaction, further bolstering its liquidity position and
financial flexibility. The transaction is open to holders of all of
its existing first lien and second lien term loans.
"The successful completion of this transaction and the
significant investment from our financial partners highlight the
confidence in Trellix and Skyhigh Security’s strategic direction,"
said Bryan Palma, Chief Executive Officer, Trellix and Vishal Rao,
Chief Executive Officer, Skyhigh Security. "With a stronger
financial foundation, Trellix and Skyhigh Security are
well-positioned for future growth."
This press release is for informational purposes only and does
not constitute an offer to sell, or a solicitation of an offer to
buy, any security and does not constitute an offer, solicitation or
sale of any security in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Trellix
Trellix is a global company redefining the future of
cybersecurity and soulful work. The company’s open and native
extended detection and response (XDR) platform helps organizations
confronted by today’s most advanced threats gain confidence in the
protection and resilience of their operations. Trellix, along with
an extensive partner ecosystem, accelerates technology innovation
through artificial intelligence, automation, and analytics to
empower over 40,000 business and government customers with living
security. More at https://trellix.com. Follow Trellix on LinkedIn
and X.
About Skyhigh Security
Skyhigh Security is focused on helping customers secure the
world’s data. It protects organizations with cloud-native security
solutions that are both data-aware and simple to use. Its
market-leading Security Service Edge (SSE) Portfolio goes beyond
data access and focuses on data use, allowing organizations to
collaborate from any device and from anywhere without sacrificing
security. For more information, visit
https://www.skyhighsecurity.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240814399770/en/
Media: Sarah Erman media@trellix.com
C Street Advisory Group Magentabuyer@thecstreet.com