Warburg Pincus to invest in Ontario-based eSentire
Global private equity firm Warburg Pincus has revealed that it is set to make a multimillion dollar investment into Ontario-based cybersecurity company, eSentire Inc.
eSentire is regarded as a key player in the cybersecurity industry, specialising in containing advanced threats that have bypassed security controls. The company operates in the legal, healthcare, insurance, manufacturing, technology and governmental sectors, among others.
“With the ever increasing complexity around cybersecurity and scarcity of security talent, more companies are seeking comprehensive managed services that proactively detect and respond to cyber threats in real time,” said Managing Director of Warburg Pincus, Cary Davis.
“eSentire provides the most complete suite of technologies and services in the MDR market and has experienced industry-leading growth and impressive customer satisfaction. We are excited to partner with management to support the company’s continued expansion and help them serve the complex cybersecurity needs of their customers.”
The exact figure is yet to be disclosed, but eSentire CEO John-Paul Haynes has stated that the figure is “well north” of the existing US$34.5mn that firm has previously raised.
“We could not have found a better partner than Warburg Pincus, whose global reach, access to industry experts and extensive network will serve as a great catalyst for our future growth,” said Haynes.
The cash injection from Warburg Pincus will be used to facilitate eSentire’s growth, with a particular focus towards the development of specialised cybersecurity technology that can be directly integrated into firms existing networks and systems.
Warburg Pincus has over $44bn in private equity assets under management, with a portfolio of over 140 companies to its name. The deal is expected to close in September, with the partnership set to last for between three to six years.