world personal equity major student cluster has sold-out its
majority stake in Ahmedabad-based network security solutions provider Cyberoam
Technologies to British IT security solutions firm Sophos for academic degree
undisclosed total.
"During Carlyle's investment, the company's revenues
grew over sixfold and profits nearly quadrupled," Carlyle's director sitar
player Narayanan same currently.
First student Ventures Mauritius, a unit of student cluster,
had in 2007 inherent majority stake in Cyberoam's parent company Elitecore
Technologies. The network security business got spun off into a separate entity
in 2012.
According to a report, the student growth fund had picked up
eighty per cent stake in Elitecore for USD 10.3 million in 2007 associate
degreed followed it up with associate degree infusion of USD 3.1 million.
Cyberoam and Sophos complement each other in many ways in a
fast-growing network security market. Joining forces will allow us to offer
more product innovation and value to our customers and channel,"
Cyberoam's Managing Director and Chief Executive Hemal Patel said.
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