Good morning, Nina Lindholm here with the Europe Wire from the London newsroom. Evolving cyber threats are rapidly increasing the demand for better security in Europe. This morning, we delve into a sale in the segment, as Christian Stein, managing director at PSG Equity, and Emanuel Johnsson, partner at Verdane, tell PE Hub why certain cybersecurity companies are commanding premium valuations. We then explore how the post-Brexit reset might impact the attractiveness of the UK for private capital firms, with comments from Rajaa Mekouar, CEO at Calista Direct Investors. To finish, we have an update on Triton’s exit from a Danish taxi company. Read further to find out the MOIC the sale generated. Scale and stability European cybersecurity companies that scale across borders are not only catching the eye of global acquirers but are also commanding premium valuations, Christian Stein, managing director at PSG Equity, and Emanuel Johnsson, partner at Verdane, told PE Hub’s Irien Joseph. PSG, Verdane and TA Associates agreed to sell Hornetsecurity, a global provider of AI-powered M365 security, data protection, compliance and security awareness services to Thoma Bravo-backed Proofpoint in May. To learn the valuation, and why European cybersecurity is a hot ticket right now, take a look at the premium Wire. I recommend checking out Irien’s full story. It covers how Hornetsecurity capitalized on the broader cybersecurity demand in Europe and more on its value creation journey. First stop Not all cross-border activity is smooth sailing, however. But the UK and EU having reached an agreement on areas including some trade and defense last week could provide welcome clarity for private equity investors, Rajaa Mekouar, CEO at Calista Direct Investors, told PE Hub. To read Mekouar's full commentary, which includes how her firm has found the post-Brexit environment, check out the full Wire coverage. Wire readers will know London was a topic in yesterday's newsletter, as Craig McGlashan covered several deals involving London-listed businesses. Extra detail Before I sign off, we have an update on a deal we covered yesterday. To learn the MOIC the sale of Dantaxi generated for Triton, check out the premium Wire coverage. That’s all from me. Keep an eye out for the US Wire later today by Michael Schoeck. Irien Joseph is on Europe duty tomorrow.
Cheers,
Nina
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