Bahrain-based Investcorp has agreed the sale of CSIdentity (CSID) to Experian, a global information services company, for $360 million.
Founded in 2006 and headquartered in Austin, Texas, CSID is a provider of enterprise level identity theft protection technology solutions to businesses and government agencies.
Through its technology fund, Investcorp initially invested in CSID in December 2009 and the fund is today the majority owner of the company.
Investcorp said in a statement that since it partnered with CSID, the company has experienced rapid growth and has become a global leader in the identity protection market.
Mohammed Al-Shroogi, co-CEO at Investcorp , said: "Cybersecurity is a trend that has long been on Investcorp's radar and over the last decade we have established a market leading position in the sector, investing in six IT security companies.
"This successful exit, and the fact that the company has attracted the interest of such a strong trade buyer, is further testament to our ability to create market leaders in the cybersecurity sector."
The transaction marks the fifth exit for Investcorp Technology Partners III, following the sale of TDX Group to Equifax Inc, the partial exit of Fishnet through a merger with Accuvant, the sale of Skrill Group to Optimal Payments, and the flotation of Sophos Group plc on the London Stock Exchange.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.