Less than six months after going public, Clearwater cybersecurity training company KnowBe4 made a major acquisition.
The company has entered into an agreement to purchase Sunnyvale, Calif., Tech security company SecurityAdvisor, for $ 80 million in cash and stock, including $ 22.5 million in cash and $ 27.5 million in common stock of KnowBe4 and $ 30 million in incentives based on the combined company’s future performance.
The takeover “will give customers the opportunity to address human-level (security) risks in real time,” according to a merger agreement filed with the US Securities and Exchange Commission.
“We believe we are creating a new category of security called Human Detection and Response, or HDR,” said Stu Sjouwerman, Founder and CEO of KnowBe4, in a statement. “We see this combination as a great addition to the existing capabilities of our platform as we believe it will enable real behavior change and help build a more effective and mature safety culture.