ExtraHop to be acquired by Bain Capital and Crosspoint Capital at $900M valuation

Extrahop
SaaS News -ExtraHop-to-be-acquired-by-Bain-Capital (source: SaaS Industry)
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 ExtraHop, a cloud-native network detection and response company, has announced that it has entered into a definitive agreement to be acquired by Bain Capital and Crosspoint Capital. The deal is strategically valued at $900 million. ExtraHop brings a unique level of visibility into networks and delivers sophisticated real-time detection, investigation, and response capabilities, says one of its buyers.


ExtraHop, a cloud-native network detection and response company, has announced that it has entered into a definitive agreement to be acquired by Bain Capital and Crosspoint Capital. The deal is strategically valued at $900 million. 

Bain Capital is a technology investor and one of the multi-asset alternative investment firms in the world. Crosspoint Capital is a private equity firm specializing in cybersecurity, privacy, and infrastructure software.    

According to the company’s press release, Arif Kareem, CEO of ExtraHop, and co-founders Jesse Rothstein, chief technology officer, and Raja Mukerji, chief customer officer, will remain in their positions. Rothstein and Mukerji will continue to be significant shareholders in the company.

Mr. Kareem said, “By combining our exceptional team, market needs, and technology with the deep domain expertise and resources of Bain Capital and Crosspoint Capital, ExtraHop has the opportunity to grow faster and accelerate our innovation to help our customers defend their operations from even the most advanced threats.”

He added that today’s businesses are subjected to a wide range of highly sophisticated cyber-assaults with a wide range of goals, ranging from the theft of sensitive personal and commercial data to illegal profit. And ExtraHop is on a mission to alter that. 

As the events of the last few weeks make crystal clear, cybersecurity is now a mission-critical requirement in the strategy and operations of every organization on the planet, with enormous implications for financial and reputational well-being. We believe that network detection and response is the next major cybersecurity segment and that ExtraHop has the best enterprise technology in the space.”

David Humphrey, managing director at Bain Capital

ExtraHop brings a unique level of visibility into networks and delivers sophisticated real-time detection, investigation, and response capabilities to organizations around the world. We are excited to partner with the ExtraHop team and Bain Capital to support the company in the next chapter of its growth. 

Ian Loring, a managing partner at Crosspoint Capital

The deal is scheduled to conclude in the summer of 2021, subject to typical closing conditions such as regulatory clearances.

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