KnowBe4 has completed its acquisition by Vista Equity Partners.
“Today’s acquisition is a significant milestone for the entire KnowBe4 team. It’s representative of our achievements to date, as well as our potential for continued long-term growth,” said Stu Sjouwerman, founder, Chairman and Chief Executive Officer of KnowBe4. “Vista provides the resources and operational expertise to enhance customer value. We’re thrilled to embark on this next chapter and realize our goals for addressing cybersecurity’s weakest link.”
“The human element remains one of the most important yet neglected aspects of cybersecurity,” said Michael Fosnaugh, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “The opportunity to scale a business that is truly mission-critical to enterprises around the world is core to Vista’s investment approach and value creation efforts. This, combined with Stu’s track record as a visionary founder and KnowBe4’s demonstrated product leadership, makes partnering with the Company very exciting.”
With the completion of the transaction, KnowBe4 shares have ceased trading and are no longer listed on the Nasdaq Global Select Market.
Morgan Stanley & Co. LLC served as financial advisor and Potter Anderson & Corroon served as legal counsel to KnowBe4’s Special Committee. Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor to KnowBe4.
Guggenheim Securities, LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel for Vista.