May 23, 2023

Frisco Cybersecurity Firm Netwrix Gets Strategic Investment from Centerbridge Partners Netwrix, a cybersecurity vendor, said that TA Associates, a leading global private equity firm, remains the majority shareholder, with members of Netwrix's senior management team and Updata Partners retaining minority positions in the business. Illustration: greenbutterfly/iStock Frisco-based Netwrix announced it has received a strategic investment from Centerbridge Partners LP, a global multi-strategy private equity firm. Netwrix, a cybersecurity vendor, said that TA Associates, a leading global private equity firm, remains the majority shareholder, with members of Netwrix’s senior management team and Updata Partners retaining minority positions in the business. “Netwrix solutions help organizations of any size strengthen their security posture across all the primary attack surfaces: data, identity, and infrastructure, as well as ensure regulatory compliance,” Steve Dickson, CEO of Netwrix, said in a statement. “With Centerbridge and TA’s backing and technology acumen, we’re well positioned to address our customers’ mission-critical needs.” Innovative software for complex data security challenges Netwrix said its solutions help more than 13,000 organizations around the world identify and protect sensitive data to reduce the chance of a breach, and detect, respond to, and recover from security threats while ensuring regulatory compliance. Its offerings include data access governance (DAG), identity and access management (IAM), privileged access management (PAM) as well as active directory security and ransomware protection. “Netwrix has continually demonstrated its ability to innovate and identify software that best addresses the complex data security challenges facing enterprises today,” Jared Hendricks, senior managing director at Centerbridge, and Chris Litchford, managing director at Centerbridge, said in a statement. “We look forward to partnering with the Netwrix team and TA to promote innovation and further scale the company.” Growing revenue, customer and employee satisfaction TA Managing Directors Mike Libert and Harry Taylor said that since the firm’s initial investment in 2020, Netwrix has increased annual recurring revenue fivefold, driven by Netwrix’s transition to a fully subscription business model, investment in new offerings, and several strategic acquisitions. “Given Netwrix’s established industry leadership, we believe there is a clear runway for further organic and inorganic growth in partnership with the Centerbridge team,” Libert and Taylor said in a statement. “Netwrix has a history of delivering cutting-edge capabilities and excellent employee and customer satisfaction,” Dan Mayleben, executive chairman of Netwrix said in a statement. “We are grateful for the confidence Centerbridge and TA continue to have in the business.” The company said that the transaction is expected to close in the third quarter of 2023. No financial terms were disclosed. Jefferies LLC served as financial adviser to Netwrix and TA. DLA Piper and Goodwin Procter LLP provided legal counsel to TA. Moelis & Company served as financial adviser to Centerbridge and Kirkland & Ellis LLP provided legal counsel. Get on the list. Dallas Innovates, every day. Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day. One quick signup, and you’re done. Requiring virtually zero data training and achieving a 90% correct answer rate, Inbenta's solutions are fully configurable, deployable within seconds, interoperable across multiple platforms, and perpetually advancing through billions of customer interactions across 35 languages, the company said. "Inbenta's conversational AI is a game changer for any business that has to handle customer inquiries, whether simple questions or more complicated tasks," says CEO Melissa Solis. The app was developed by Dallas-based Zimperium, a leader in mobile security, and is designed to secure devices against even the most advanced threats. Available as a free download on Apple iOS and Android Play, Dallas Secure arrives just in time for the busy holiday mobile-commerce season. "Public safety comes first in Dallas—and cybersecurity is a form of public safety,” Mayor Eric Johnson said. In this week’s North Texas deal flow, you’ll also find news about Biotech Renibus Therapeutics raising $8.48M to fight cardio-renal disease; Deposits raising $5M for its plug-and-play financial services platform; Lion Real Estate Group targeting multifamily properties in the Sun Belt with a $200M fund, and more. TAGS: