(Photo by Flickr user Yuri Samoilov, used under a Creative Commons license)
Leesburg, Va.–based cybersecurity startup Cofense is in “advanced talks” to be acquired by BlackRock, a global investment management company, Reuters reported. Cofense protects email users from phishing attacks and earlier this year, it released a new product.
— Reuters Top News (@Reuters) July 29, 2019
BlackRock is already a lead investor in the cybersecurity startup, with a 30% stake, along with private equity firm Pamplona Capital Management. BlackRock would buy the other major share of the company from Pamplona, which amounts to 47%. The pair led the buy of Cofense in 2018, when the company was named PhishMe, in a deal valued at $400 million.
Reuters reported that the Committee on Foreign Investment in the United States (CFIUS) asked the UK-based investment firm to sell its stake in Cofense. Pamplona launched an auction for its stake in Cofense in October 2018 as a result of the warning from CFIUS, which was 10 short months after it originally acquired Cofense with BlackRock.
BlackRock seems to be the front-runner to buy Pamplona’s share and if it does, it will take over as the lead investor and owner of Cofense. CFIUS originally gave Pamplona until July 19 to reach a selling, deal but that time has passed. Reuters reported that Pamplona and BlackRock are in the negotiation phase to solidify the financial terms.
Please Assist Me wins again with $20K grand prize at 2019 Vinetta Project final
Starry Internet opened an office in Arlington
Stephanie Cummings of Please Assist Me wins big at the HERImpact DC pitch competition
Verizon is looking for the brightest ideas on how to use its 5G technology
Apps are open for SEED SPOT’s spring 2020 Impact Accelerator
M&A Moves: Herndon-based ePlus acquires parts of ABS Technology
5 local startups will take center stage at the 2019 DC Startup Week Pitch Competition
Escape the August heat with cool AI tech
Sign-up for daily news updates from Technical.ly Dc