ExtraHop announced the completion of its acquisition by Bain Capital
Private Equity and Crosspoint Capital Partners. The transaction, first
announced on June 8, 2021, valued ExtraHop at $900 million. ExtraHop is poised
to accelerate momentum under new ownership and further advance its mission to
help organizations detect and respond to advanced threats.
“Software supply chain attacks and the rise of
double-extortion ransomware have brought security to the forefront of both
business and consumer awareness, and organizations are actively looking for new
ways to reclaim the upper hand against these advanced threats,” said Arif
Kareem, CEO, ExtraHop. “ExtraHop is uniquely positioned to help customers
defend against these new and emerging attack vectors. Adding the resources,
expertise, and financial support of Bain Capital Private Equity and Crosspoint
Capital Partners will allow ExtraHop to extend our leadership in the network
detection and response market and continue to innovate to help our customers
stay ahead of the game.”
“We are excited to invest behind ExtraHop as a true leader in
the next big segment in cybersecurity-network detection and response-which
organizations increasingly require to respond to today’s escalating threats
proactively,” said David Humphrey, a Managing Director at Bain Capital
“We are honored to partner with ExtraHop and look forward to
working with the team as they continue to build an innovative, best-in-class
offering that helps customers defend and overcome advanced threats,” added Max
de Groen, a Managing Director at Bain Capital Private Equity.
“The cybersecurity market is seeing an incredible amount of
innovation, and for good reason. With advanced threats like supply chain
attacks and ransomware on the rise, the time to invest in accelerating this
innovation is now,” said Greg Clark, Managing Partner at Crosspoint Capital
Partners. “ExtraHop is poised to be one of the revolutionary great companies in
this next era of cyber.”
Qatalyst Partners served as the exclusive financial advisor to
ExtraHop, and Wilson Sonsini served as legal counsel. Morgan Stanley & CO.
LLC served as the financial advisor to Bain Capital Private Equity and
Crosspoint Capital Partners, and Ropes & Gray LLP served as legal counsel.
PwC served as accounting advisor to Bain Capital Private Equity.