Cambridge, MA and Hollywood, FL – 02 December 2013 Akamai Technologies, Inc. (NASDAQ: AKAM) and Prolexic Technologies, Inc. announced today that the two companies have signed a definitive agreement for Akamai to acquire Prolexic, a provider of cloud-based security solutions for protecting data centers and enterprise IP applications from distributed denial of service (DDoS) attacks.
Faced with an ever-changing threat landscape, organizations require comprehensive security solutions that address many different protection scenarios. These include securing mission critical Web properties and applications from attack, as well as protecting the full suite of enterprise IP applications – including email, file transfers, and VPN – across a data center.
Akamai provides leading solutions for defending Web sites and Web applications by leveraging the scale and intelligence of its global platform to protect against even the largest and most sophisticated DDoS and application-layer attacks. Prolexic combines DDoS mitigation solutions with security operations expertise for protecting data centers and enterprise IP applications.
By acquiring Prolexic, Akamai intends to provide customers with a comprehensive portfolio of security solutions designed to defend an enterprise’s Web and IP infrastructure against application-layer, network-layer and data center attacks delivered via the Internet.
"Any company doing business on the Internet faces an evolving threat landscape of attacks aimed at disrupting operations, defacing the brand, or attempting to steal sensitive data and information," said Tom Leighton, CEO of Akamai. "By joining forces with Prolexic, we intend to combine Akamai’s leading security and performance platform with Prolexic’s highly-regarded DDoS mitigation solutions for data center and enterprise applications protection. We believe that Prolexic’s solutions and team will help us achieve our goal of making the Internet fast, reliable, and secure."
"Today, business is defined by the availability, security and latency of Internet-facing applications, data and infrastructure," said Scott Hammack, CEO at Prolexic. "Being able to rely on one provider for Internet performance and security greatly simplifies resolution of network availability issues and offers clients clear lines of accountability. We believe that, together, we will be able to deliver an unprecedented level of network visibility and protection."
Under terms of the agreement, Akamai will acquire all of the outstanding equity of Prolexic in exchange for a net cash payment of approximately $370 million, after expected purchase price adjustments, plus the assumption of outstanding unvested options to purchase Prolexic stock. The closing of the transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to occur in the first half of 2014. Therefore, Akamai’s Q4 2013 existing guidance remains unchanged. The Prolexic acquisition is expected to be slightly dilutive to Akamai’s Non-GAAP net income per share in the first full year post closure in the range of $0.06 to $0.08. Once the acquisition closes, the Company will include Prolexic in its guidance going forward.
Conference call scheduled today, Monday, December 2 at 8:45 a.m. ET
Akamai will host a conference call to discuss the acquisition of Prolexic today, December 2, 2013, at 8:45 a.m. Eastern time. The call may include forward-looking financial guidance from management. The call can be accessed through 1-800-706-7749 (or 1-617-614-3474 for international calls) using conference ID No. 19279933. A live Webcast of the call may be accessed at www.akamai.com in the Investor section. In addition, a replay of the call will be available for two weeks following the conference through the Akamai Website or by calling 1-888-286-8010 (or 1-617-801-6888 for international calls) and using conference ID No. 55460617.
Use of Non-GAAP Financial Measures
In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), Akamai provides additional financial metrics that are not prepared in accordance with GAAP (non-GAAP). Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate Akamai's financial performance. The non-GAAP financial measures included in this press release are Adjusted EBITDA margin and non-GAAP net income per share.
Management believes that the use of non-GAAP financial measures allows for meaningful comparisons and analysis of trends in the business, as they exclude expenses and gains that may be infrequent, unusual in nature and not reflective of Akamai's ongoing operating results. Management also believes that non-GAAP financial measures provide useful information to investors in understanding and evaluating Akamai's operating results and future prospects in the same manner as used by management and in comparing financial results across accounting periods and to those of peer companies.
The non-GAAP financial measures do not replace the presentation of Akamai's GAAP financial results and should only be used as a supplement to, not as a substitute for, Akamai's financial results presented in accordance with GAAP. Akamai has not provided a reconciliation of each non-GAAP financial measure used in this press release to the most directly comparable GAAP financial measure because it is not practicable to do so at this time.
Akamai's definitions of the non-GAAP financial measures used in this press release are outlined below:
Non-GAAP net income – GAAP net income adjusted for the following tax-effected items: amortization of acquired intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; restructuring charges; acquisition related costs; certain gains and losses on investments; gains and other activity related to divestiture of a business; loss on early extinguishment of debt; gains and losses on legal settlements and other non-recurring or unusual items that may arise from time to time.
Non-GAAP net income per share – Non-GAAP net income divided by the basic weighted average or diluted common shares outstanding used in GAAP net income per share calculations.
Adjusted EBITDA – GAAP net income excluding the following items: interest; income taxes; depreciation and amortization of tangible and intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; restructuring charges; acquisition related costs; certain gains and losses on investments; gains, losses and other activity related to divestiture of a business; foreign exchange gains and losses; loss on early extinguishment of debt; gains and losses on legal settlements and other non-recurring or unusual items that may arise from time to time.
Adjusted EBITDA margin – Adjusted EBITDA stated as a percentage of revenue.
The non-GAAP adjustments, and Akamai's basis for excluding them from non-GAAP financial measures, are outlined below:
Amortization of acquired intangible assets – Akamai has incurred amortization of intangible assets, included in its GAAP financial statements, related to various acquisitions the Company has made. The amount of an acquisition's purchase price allocated to intangible assets and term of its related amortization can vary significantly and are unique to each acquisition. Therefore, Akamai excludes amortization of acquired intangible assets to provide investors with a consistent basis for comparing pre- and post-acquisition operating results.
Stock-based compensation and amortization of capitalized stock-based compensation – Although stock-based compensation is an important aspect of the compensation to Akamai’s employees and executives, the expense varies with changes in the stock price and market conditions at the time of grant, varying valuation methodologies, subjective assumptions and the variety of award types. This makes the comparison of Akamai’s current financial results to previous and future periods difficult to interpret. Therefore, Akamai believes it is useful to exclude stock-based compensation and amortization of capitalized stock-based compensation in order to better understand the performance of Akamai’s core business performance and to be consistent with the way the investors evaluate its performance and comparison of its operating results to peer companies.
Restructuring charges – Akamai has incurred restructuring charges, included in its GAAP financial statements, primarily due to workforce reductions and estimated costs of exiting facility lease commitments. Akamai excludes these items when evaluating its continuing business performance as such items are not consistently recurring, do not reflect expected future operating expense, nor provide meaningful insight into the current and past operations of its business.
Acquisition related costs – Acquisition related costs include transaction fees, due diligence costs and other one-time direct costs associated with strategic activities. In addition, subsequent adjustments to the Company's initial estimated amount of contingent consideration associated with specific acquisitions are included within acquisition related costs. These amounts are impacted by the timing and size of the acquisitions. Akamai excludes acquisition related costs and benefits to provide a useful comparison of the Company's operating results to prior periods and to its peer companies because such amounts vary significantly based on magnitude of its acquisition transactions.
Gain and other activity related to divestiture of a business – Akamai recognized a gain and other activity associated with the divestiture of its Advertising Decision Solutions business. Akamai excludes gains and other activity related to divestiture of a business because sales of this nature occur infrequently and are not considered part of the Company's core business operations.
Income tax-effect of non-GAAP adjustments – The non-GAAP adjustments described above are reported on a pre-tax basis. The income tax effect of non-GAAP adjustments is the difference between GAAP and non-GAAP income tax expense. Non-GAAP income tax expense is computed on non-GAAP pre-tax income (GAAP pre-tax income adjusted for non-GAAP adjustments) and excludes certain discrete tax items (such as recording or release of valuation allowances), if any. Akamai believes that applying the non-GAAP adjustments and their related income tax effect allows the Company to more properly reflect the income attributable to its core operations.
About Prolexic
Prolexic is one of the largest, most trusted Distributed Denial of Service (DDoS) mitigation providers in the world. Designed to absorb large and complex attacks, Prolexic aims to restore mission-critical Internet-facing infrastructures for global enterprises and government agencies within minutes. Some of the world’s largest banks and the leading companies in e-Commerce, SaaS, payment processing, travel/hospitality, gaming, energy and other at-risk industries rely on Prolexic to protect their businesses. Founded in 2003 as a leading cloud DDoS mitigation platform, Prolexic is headquartered in Hollywood, Florida, and has scrubbing centers located in the Americas, Europe and Asia. To learn more about Prolexic, please visit www.prolexic.com and @Prolexic on Twitter.
About Akamai
Akamai® is the leading provider of cloud services for delivering, optimizing and securing online content and business applications. At the core of the Company’s solutions is the Akamai Intelligent Platform™ providing extensive reach, coupled with unmatched reliability, security, visibility and expertise. Akamai removes the complexities of connecting the increasingly mobile world, supporting 24/7 consumer demand, and enabling enterprises to securely leverage the cloud. To learn more about how Akamai is accelerating the pace of innovation in a hyperconnected world, please visit www.akamai.com or blogs.akamai.com, and follow @Akamai on Twitter.
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements about expected benefits to Akamai from the acquisition. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, inability to successfully integrate the technology and personnel of Prolexic, failure to achieve expected post-closing margins or revenue contributions, inability to develop products based on the technology, failure of the parties to secure regulatory approvals of the transaction, and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
h3. Leading environmental, health and safety software vendor to accelerate global expansion and target broader reputational risk market
London, UK – 20 June 2013 Kennet Partners, the technology growth investor, and Fidelity Growth Partners Europe (FGPE), the pan-European growth investor today announced the acquisition of Rivo Software, a fast- growing software company based in Warwick, UK.
Rivo Software is a global provider of environmental, health and safety, quality and loss prevention management software. Founded eight years ago, the company helps businesses manage compliance and business risk through its cloud-based software. It gives senior executives clear, accurate and timely information to identify and highlight trends, which in turn enables the protection of people, revenue and ultimately a company’s reputation across the globe. The company’s products are used in 82 countries, in 32 languages by over 140,000 people. Clients include ABB, BP, Chevron, Crossrail, Siemens, Thames Water, Veolia, and many others.
Simultaneous with the acquisition, Kennet Partners and Fidelity Growth Partners Europe are making a significant capital investment into the business, aimed at supporting the company’s global growth and driving awareness of broader business issues around reputation risk. As part of the deal, co-investor Steve Husk will join the business as Executive Chairman. Husk, who was previously CEO of FRSGlobal, a business backed by Kennet Partners and acquired by Wolters Kluwer, brings a wealth of experience in the governance, risk and compliance (GRC) category.
Hillel Zidel, Director at Kennet Partners said, “Rivo is a great example of our growth buyout investment strategy where we pair successful businesses with world class executives. Rivo has built an impressive business addressing a large global market, in a capital efficient manner. Together with management, Steve Husk and FGPE we are excited about building Rivo into a leader in the area of reputational risk management”.
Davor Hebel, Partner at Fidelity Growth Partners Europe said, “Rivo has a world-class product that gives insight into the heart of every business’s two biggest assets – their people and their reputation. The ability to understand reputational and people risk is becoming a top priority for senior executives and boards around the globe, and Rivo is well-placed to address their needs. We look forward to being part of the Rivo success story.”
Ken Baxter, MD at Rivo said, “We are really excited about the acquisition by Kennet and FGPE. They have seen the amazing potential for our business to be a dominant global player and in addition to the capital investment, they also bring a wealth of expertise and a wide network. Their support will help us to extend our high levels of service to new clients around the world. It’s a great opportunity for the business and for our clients.”
h2. About Rivo Software
Rivo Software serves a global client base from offices in the UK and USA. With clients in 82 countries, Rivo helps clients manage business risk and compliance. The company provides an enterprise level software solution, Safeguard, to manage business risk and compliance. Since being named on the Deloitte Technology Fast 500 EMEA – highlighting the company as one of the fastest-growing companies in Europe, The Middle East and Africa – Rivo has continued its global growth across numerous markets.
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Conduct Authority.
h2. Fidelity Growth Partners Europe
Fidelity Growth Partners Europe is a venture and growth capital investor that backs technology entrepreneurs with aspiration to greatness. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Curam (IBM), Newbay (RIM), Seatwave, InnoGames, Wahanda and Notonthehighstreet. FGPE is investing a £100 million fund dedicated to backing fast-growing European technology companies. www.fidelitygrowthpartners.eu
For further information please contact:
Rivo Software:
Ken Baxter
+44 (0)1926 622 320
ken.baxter@rivosoftware.com
Kennet Partners:
Deepa Patel
+44 (0)20 3004 3259
dpatel@kennet.com
Fidelity Growth Partners Europe:
Neil Thomas/ Jennifer Janson
+44 (0)118 900 0860
Jennifer.janson@sixdegreespr.com
h3. Former NexTag President Brings Customer-Centric Internet Expertise to the AVA Artificial Intelligence Lead Management Platform
SAN FRANCISCO, CA; May 1, 2013 - Kennet Partners, a leading international growth equity firm that invests in companies across North America and Europe, today announced it has made a $16 Million investment in AVA.ai LLC, the fast-growing Internet Technology company behind AVA, the Artificial Intelligence lead management platform. As part of the investment, Kennet has appointed Internet industry veteran Mark A. Bradley as CEO of AVA.ai.
"Kennet reviewed many bootstrapped, founder-led companies over the past year and were very impressed with what AVA's Founder, Ben Brigham, and his team have accomplished," said Eric Filipek, Managing Director of Kennet, Silicon Valley. “Our significant investment demonstrates our confidence in how machine learning is changing lead management. Further, the addition of Mark A. Bradley, a seasoned executive with whom we’ve had a long association, as CEO adds significant strength and depth to this management team."
Bradley brings extensive executive leadership and high-growth, customer-focused Internet business expertise to AVA.ai. He sits on the Executive Advisory Board at Kennet Partners and, prior to joining AVA.ai, was part of the founding team at NexTag – the world’s largest comparison shopping engine. During his tenure Bradley was responsible for launching the US Business and expanding it worldwide; entering new verticals; and the overall strategic direction of the company. He developed a strong technological, analytical and entrepreneurial focus on capital efficiency. Bradley played several key roles in the company’s development including President and led several acquisitions. Prior to NexTag, Bradley worked within the Technology sector for more than 10 years, where he held executive positions at public companies in Marketing, Product Management and Business Development. Bradley currently holds board positions with NextPerformance and AcademixDirect, and an executive advisory role with Trademob – all Kennet Portfolio companies; and is an executive advisor to Insidevault.
“Kennet Partners is a dynamic and fastpaced environment. After analyzing many leading edge companies for possible investment, AVA.ai and the team that Ben has built are clearly years ahead of the competition,” stated Bradley. “AVA.ai has the right components for significant expansion and market leadership – by leveraging its cutting-edge AVA Artificial Intelligence technology. I look forward to guiding the company to achieve its potential.”
The AVA (Automated Virtual Assistant) platform engages, nurtures and connects customer leads consistently and persistently, cultivating relationships at each step of the life cycle. Unlike auto-response programs, AVA uses artificial intelligence to interpret responses and take action based upon customer replies, giving each contact context, thereby increasing engagement and results. AVA is like having hundreds of sales people working around the clock, doing the leg work before turning readied and reignited leads over to the sales team.
Having launched in the Automotive industry, AVA.ai is now rapidly expanding into other high-growth customer-centric sectors worldwide. There are currently more than 4,000 sales professionals using AVA to manage and maximize leads within a number of industry-leading companies across multiple verticals.
h2. About AVA.ai
AVA.ai is a fast-growing Internet Technology company, founded in 2007 with offices in Bellingham, WA and San Francisco, CA. With an international presence and more than 4,000 sales professionals in several industries using AVA, the company’s growth has been tremendous and success well-documented. AVA partners with leading industry companies across many verticals who value better lead management. For more information, please visit www.AVA.ai. To schedule a demonstration of AVA, please call 888.633.7738, sign up on the website or email Sales@AVA.ai. For additional press information, email PR@AVA.ai.
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. For more information, please visit www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Conduct Authority.
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Media Contact:
US media inquiries: Javier Rojas, Kennet Partners - Tel: +1 650 573 8700
European media inquiries: Janina Jablonski, Kennet Partners - Tel: +44 20 7839 8020
h3. Neil brings significant private equity experience, having worked in multiple areas of the industry
London - 14 November 2012 Kennet Partners, the technology growth equity investor, has announced that it has appointed Neil Cooper as Finance Director.
Neil joined Kennet from Robert W. Baird Group, where he was Financial Controller, a role he previously held at Advent Venture Partners. Neil began his career at KPMG, where he qualified as a Chartered Accountant. He holds a BSc in Biochemistry from the University of Warwick.
Michael Elias, Managing Director, said “We are delighted that Neil has joined the Kennet team. Neil brings significant private equity experience, having worked in multiple areas of the industry in his career to date.”
Neil is responsible for finance, administration, and investor relations.
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Services Authority.
h3. Leading mobile app marketing platform will use the funds to expand globally.
Berlin – 07 November 2012 Trademob, the leading data-driven mobile app marketing platform, announced today a Series B investment of $15 million led by technology growth equity investor Kennet Partners. Kennet will invest $12.5 million, with additional funds coming from existing investors Tengelmann Ventures and High-Tech Gründerfonds. The financing will be used to fund Trademob’s continued global expansion and for further investment in its proprietary technology platform. Michael Elias, managing director at Kennet, and Hillel Zidel, director at Kennet, will join Trademob’s board of directors.
“Trademob has rapidly developed a leadership position in the large and fast-growing market for app marketing,” said Hillel Zidel. “What Ravi and the team have developed over the last two years is hugely impressive, and we're excited to be working together to create a global market leader. Trademob is a great example of the type of founder-led, capital-efficient business that we like to invest in.”
“With a presence in London and Silicon Valley, Kennet is an ideal partner as we continue to scale our business globally,” said Ravi Kamran, CEO of Trademob. “We’re excited to have a partner on board that provides us not only capital, but also vast strategic experience in our market.”
Founded in 2010 in Berlin, Trademob optimizes mobile app campaigns, helping app marketers increase user retention, in-app engagement and App Store ranking. Using its innovative tracking technology and real-time campaign optimization technology, Trademob delivers exceptional performance to mobile marketers. Trademob provides advertisers with access to more than 100 mobile ad networks and has a reach of more than 500 million mobile users in 190 countries. Clients include eBay Classifieds, Booking.com, Universal Music, Axel Springer AG, and many others. The company has offices in Berlin, London, Madrid, Paris and New York.
Since officially launching its app marketing offering in November 2011, Trademob has experienced double-digit monthly revenue growth and is now one of the leading app marketing platforms in Europe.
h2. About Trademob
Berlin-based Trademob is a data-driven mobile app marketing platform led by technology entrepreneurs and math experts. Founded in August 2010, Trademob offers its clients an easy and efficient opportunity to promote their mobile apps globally while optimizing mobile marketing goals and budgets. Trademob’s optimization engine and data-driven approach maximize active app users, in-app engagement and mobile revenue. The company’s independent platform aggregates all relevant ad networks and reaches more than 500 million mobile users worldwide. For more information, visit http://www.trademob.com.
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in North America and Europe. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Services Authority.
h2. About Tengelmann Ventures
Following the motto “Funding your ideas,” Tengelmann Ventures GmbH, a fully-owned subsidiary of the Tengelmann Group, has been investing in fresh and rapidly growing startups for several years and has now become one of the most significant startup investors in Germany. The operative retail subsidiaries OBI, KiK, Kaiser’s Tengelmann and Plus.de, as well as the real estate company TREI Real Estate, also belong to the Tengelmann Group. This family-owned enterprise was established in 1867 in Mülheim an der Ruhr and is currently managed by the fifth generation of the family. Operating in 15 different countries and employing a staff of approximately 80,000 people who work in 4,000 stores, the company most recently turned over annual sales of EUR 10 billion.
h2. About High-Tech Gründerfonds
High-Tech Gruenderfonds invests in young, high-potential high-tech startups. The seed financing provided is designed to enable startups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as fourteen industrial groups of ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 565.5 million under management in two funds (EUR 272 million HTGF I, EUR 293.5 million HTGF II).
h3. Cloud Security company continues rapid growth as Federal Governments & Global 2000 customers increasingly battle cyber attacks and demand DDoS protection systems.
HOLLYWOOD, FL — (March 28, 2011) Prolexic Technologies has announced the completion of a $13.9 million financing led by Kennet Partners, a leading technology growth equity investor. Javier Rojas, Managing Director at Kennet, and Gustavo Alberelli, Director at Kennet, will join the board.
Founded in 2003, Prolexic was the first company to establish global scrubbing centers to stop DDoS (distributed denial-of-service) attacks in the Cloud. Leveraging unique filtering techniques, high-speed bandwidth and peering, advanced routing and other patent-pending devices, Prolexic provides the most advanced and powerful DDoS detection and network protection systems available.
Prolexic’s DDoS mitigation service utilizes the company’s proprietary mitigation & control software and its experienced global security operations team together with the necessary bandwidth and hardware to fend off DDoS cyber attacks. Regardless of an attack’s size or complexity, Prolexic ensures its customers are protected.
Both the Federal government and private sector have experienced a surge in cyber attacks. According to the U.S. Department of Homeland Security, Federal agencies suffered 41,776 cyber attacks in 2010, an increase of almost 40% over 2009. In the private sector, several Global 2000 companies experienced cyber attacks following the recent Wikileaks ordeal, which highlighted the disruptive power of larger DDoS attacks.
“DDoS attacks have become costly forms of cyber-crime, and they are increasingly being proactively addressed by businesses to avoid the devastating costs of DDoS-related downtime,” said Kennet’s Javier Rojas.
Roger Stone, Prolexic’s board representative from previous investor, IPVG Corp. (PSE: IP), said, "Since Prolexic offers customers the best cyber defense available against DDoS attacks, we have seen demand for our product offerings increase exponentially. Kennet’s expertise in helping technology companies expand throughout the United States & Europe will be a great complement to IPVG’s strong network in Asia-Pacific.”
Kennet’s Gustavo Alberelli added, “As organizations of all sizes increasingly adopt Cloud computing solutions, DDoS and cyber attacks have soared in both frequency and sophistication. Prolexic has quickly emerged as the leader in Cloud Security and demand for its differentiated products has intensified. Kennet looks forward to building Prolexic into an industry leader.”
h2. About Prolexic Technologies
Founded in 2003, Prolexic is an IT security provider of Cloud-based cyber defense solutions, such as distributed denial-of-service (DDoS) detection and mitigation, for the Federal Government and Global 2000 customers. For more information please visit www.prolexic.com
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in North America and Europe. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. www.kennet.com