Osborne Clarke advised Providence Strategic Growth (“PSG”) on the investment in German security company Hornetsecurity Group, a leading provider of cloud-based email security and data protection. PSG, the growth equity affiliate of premier asset management firm Providence Equity Partners (“Providence”), becomes a new shareholder in the Company, whereas Verdane, the specialist Northern European growth equity investor, re-invests in Hornetsecurity.
The Osborne Clarke team was led by Philip Meichssner and Dr. Nanni Spitzer (both Corporate / M&A) and consisted of Konstantin Ewald, Adrian Schneider, Felix Hilgert, Vera Eickhoff and Leonie Schneider (all IT), Dr. Sebastian Hack, Jacqueline Unkelbach, Marco Aatz and Ghazale Mandegarian-Fricke (all Antitrust); Dr. Christoph Torwegge, Theresa Gutsche (both Regulatory), Lorenz Chwaszcza, Alexandra Nautsch, Enno Dreier (all Corporate / M&A), Carsten Dau and Sarah Grigo (all Commercial), Thomas Leister and André Braig (both Employment), Dr. Tim Reinhard, Anika Quak and Larissa Mößmer (all IP), and Philipp-Gerald Hammes (Real Estate).
“Despite the ongoing Coronavirus crises the level of M&A activities in the market for digital business models remains on a robust level”, says Philip Meichssner, Head of Corporate and M&A at Osborne Clarke.
Hornetsecurity is a leading German email cloud security provider in Europe, which protects the IT infrastructure, digital communication, and data of companies and organisations of all sizes. The security specialist from Hanover provides its services worldwide via 9 secure datacentres. With around 200 employees, Hornetsecurity is represented globally at 11 locations and operates in more than 30 countries through its international distribution network.
Daniel Hofmann, Founder and CEO of Hornetsecurity, said, “Today’s transaction represents a strong vote of confidence in our team, product offering, and business model. We have built a solid technological platform since launching in 2007, expanding our geographic footprint and winning significant customers along the way. With the support of PSG and Verdane, we are now well-positioned to accelerate our growth and enhance our technology. We look forward to working together to deliver even greater value to our customers, partners, employees, and the communities in which we do business.”
About Osborne Clarke
Osborne Clarke is an international legal practice with over 1,800 employees at 26 locations worldwide, including 150 lawyers in Berlin, Hamburg, Cologne and Munich. With the claim “Helping you succeed in tomorrow’s world”, extensive industry knowledge through networking and outstanding expertise in the digital transformation of business models, Osborne Clarke advises and represents companies and entrepreneurs in all practical business law issues – excellent, inspiring and appreciative, both externally and internally.
About Providence Strategic Growth
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, with offices in London and Kansas City. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit https://www.provequity.com.
About Hornetsecurity Group
Hornetsecurity is the leading German email cloud security provider in Europe, which protects the IT infrastructure, digital communication, and data of companies and organisations of all sizes. The security specialist from Hanover provides its services worldwide via 9 secure datacentres. The product portfolio covers all important areas of email security, including spam and virus filters, legally compliant archiving, and encryption, as well as defence against advanced threats like CEO fraud and ransomware. With around 200 employees, Hornetsecurity is represented globally at 11 locations and operates in more than 30 countries through its international distribution network. The premium services are used by approximately 40,000 customers including Swisscom, Telefónica, KONICA MINOLTA, LVM Versicherung, DEKRA and Claas.