Permira plans to sell $ 5.8 billion in cash to email security company Mimecast …


Nine months after the competitor Proofpoint was bought by Thoma Bravo for 12.3 billion dollars, Mimecast is also taking the private equity route. Today, the security firm announced that Permira will be privatizing Mimecast in a cash transaction for over $ 5.8 billion. Mimecast has been public since 2015 and this deal will close at a price of $ 80 per share, the parties said.

The news follows a report released today that Thoma Bravo raised $ 35 billion to focus on tech company acquisitions, and comes in a year that has been very active for PE companies in the industry.

With the Covid-19 pandemic and people working more remotely and moving everything online, it’s also been a very, very big year for cybersecurity, so there’s a particular focus on the email’s specialty in London based Mimecast Security.

The Nasdaq-listed company has more than 39,000 business customers, around 20,000 of whom use its products to secure Microsoft 365 deployments …


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