Private equity firms BC Partners and Medina Capital have announced the acquisition of Cryptzone, a US cybersecurity firm. The announcement is a part of a $2.8 billion deal which will see the creation of a new cybersecurity and cloud data company. The new, still nameless company, is in fact a team effort between BC Partners and Medina Capital.
Medina Capital is bringing four of its portfolio companies, including Cryptzone, as well as a bunch of data centres acquired from CenturyLink.
CenturyLink said it will spend the $2.15 billion it earned to fund the recent acquisition of Level 3 Communications Inc. “After conducting a thorough review process, we are pleased to have reached an agreement with BC Partners,” said Glen F. Post III, chief executive officer and president of CenturyLink.
“We believe this transaction will benefit customers, employees and investors. Both CenturyLink and BC Partners have a strong customer focus and are committed to ensuring a seamless transition of the customers and their colocation environments.”
“As organizations increasingly adopt hybrid infrastructure models, securing enterprise content and applications has never been more challenging, or more important,” said Barry Field, CEO of Cryptzone.
“This new venture combines our leadership in dynamic network security and the software-defined perimeter, combined with the security and analytics capabilities of our portfolio colleagues and a global footprint of world-class data centers will allow us to meet these challenges for enterprises, government agencies and service providers with an enhanced portfolio and global reach.”