Perimeter eSecurity, a provider of on-demand security software, has acquired USA.NET, which develops secure electronic-messaging services.
The deal was announced two weeks after Goldman Sachs pumped $50 million into Perimeter eSecurity, and terms were not disclosed. Private equity firms Bessemer Venture Partners and the Stripes Group LLC also helped fund the USA.NET purchase.
USA.NET will add more than 1,300 clients to Perimeters customer base of 4,000. Nearly half of those companies are in the financial services industry, said Brad Miller, CEO of Perimeter.
Together, we now offer an incomparable suite of hosted security services that will help take Perimeter to the next level and ensure our market leadership, Miller said in a press release. He added Perimeter will not make any operating changes to USA.NET.
As a result of the private funding, David Cowan, manager partner of Bessemer Venture Partners, will join Perimeters board. Cowan has backed companies including SaaS provider Postini (recently bought by Google for $625 million) and VeriSign, which he co-founded.
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March 15 2019 @ 19:34:51 UTC