Friday, 28 February 2014

Carlyle cluster exits Cyberoam Technologies


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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