Cyberoam Technologies Private Limited, the spinoff from Elitecore Technologies Pvt. Ltd. and funded by the Carlyle Group, announced that it has been acquired by Sophos, a leading global provider of complete IT security solutions. Originating from Ahmedabad, India, Cyberoam has consistently grown faster than the market and gained cost leadership and operational efficiency advantages in the global network security market.
“Cyberoam is a fine example that not all successful technology product innovation happens in Silicon Valley; it can happen anywhere, with the right drive and vision. We have been successful in building Cyberoam into a global IT product company that displays great product strength, team strength and unique innovation capabilities,” said Hemal Patel, MD & CEO, Cyberoam Technologies. “Cyberoam and Sophos complement each other in many ways in the fast-growing network security market. Joining forces will allow us to offer more product innovation and value to our customers and channel partners.”
Cyberoam is highly regarded for its product innovation, quality, and world-class customer support. Consistently rated as a Visionary in Gartner’s Magic Quadrant for UTM, Cyberoam has received global awards and reviews for its excellence in product innovation. With a worldwide sales and distribution channel consisting of 5,500 resellers in 125+ countries, it delivers advanced technologies including “Layer 8” User Identity-based policies, iView Logging and Reporting, leading Application Control capabilities, and more, in its Next-Generation Firewall and Unified Threat Management appliances.
“Sophos and Cyberoam create a winning combination at the right time, in the right product markets and in all the right geographies,” said Kris Hagerman, Chief Executive Officer for Sophos. “Cyberoam has built a strong reputation as an aggressive and nimble innovator in the network security market, a reputation for top-notch service and support, and a ‘channel first’ sales strategy. The acquisition expands and accelerates our network security roadmap to grow our presence in UTM, advanced threat protection, wireless and next generation firewall – some of the fastest growing markets in all of IT. We believe this combination is exciting for both our companies, but more importantly allows us to deliver better protection for our customers and expanded opportunities for our partners.”
Cyberoam Technologies has more than 550 employees working across its worldwide offices with R&D and Global Support Management Centre operating from its headquarters in Ahmedabad, India. Cyberoam has strengthened its position in the SME and SMB segments and is geared up for making in-roads in the Enterprise territory with its impressive product portfolio.
This acquisition enables Cyberoam and Sophos to combine their global R&D efforts to deliver more innovation to the market at a faster pace. This, along with their combined sales, support and channel presence, will offer stronger products and service to customers worldwide. The deal also offers a broader portfolio of solutions for customers as well as channel partners, spanning network security, endpoint, encryption/data protection, mobile, and server.
Signal Hill was the exclusive financial advisor to Cyberoam on the transaction and NRS Advisors provided strategic advice to the shareholders.