Private equity firm Liberty Strategic Capital is set to acquire mobile security startup Zimperium for $525 million.
Malicious applications targeted nearly one in four mobile endpoints in 2021, according to Zimperium’s global mobile threat report.
“As the number of mobile devices worldwide expands, so does the cyber security threat to people, organizations and governments across the globe,” explained Zimperium.
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Designed to counter unknown threats, Zimperium’s machine learning-based z9 engine guards mobile devices against device, network, phishing, and application intrusions.
Zimperium’s acquistion marks Liberty Strategic Capital’s first buyout transaction and fourth investment in cyber security.
The firm has also acquired a controlling interest in Zimperium with the former US Secretary of the Treasury, Steven T. Mnuchin, joining the company’s board of directors.
Subject to regulatory approvals and customary closing conditions, the Liberty Strategic Capital-Zimperium deal is anticipated to close by Q2 2022. Investor SoftBank will continue to support Zimperium as a minority shareholder.
“Mobile devices and applications are an integral part of daily life for people around the world. They contain or serve as a gateway to the most sensitive personal and organizational data, making them an extremely valuable target for attackers,” commented Secretary Mnuchin.
“It’s clear that mobile is the new front line for cyber security. We all need to increase our focus on the protection of mobile devices and applications. Liberty Strategic Capital is investing in Zimperium because they’ve shown that they can lead the way in this multibillion-dollar market.
“Employees are using their own devices, driving enterprises to increasingly recognize the need for top-of-the-line cyber security designed for the mobile environment. As the use of mobile devices and the cyber threats against them proliferate, we believe Zimperium has positioned itself as the leader in securing mobile endpoints and applications. We’re excited to work with Zimperium as they lead in this critical and fast-growing market to strengthen mobile security worldwide.”
