KKR and Blackstone backed Optiv acquires Conexsys

Optiv Security, a portfolio company of KKR and Blackstone, has acquired Conexsys Communications Limited, a Mississauga, Ontario based security and networking solutions provider. Financial terms were not disclosed.

Denver, Colorado based Optiv Security is a market-leading provider of end-to-end cyber security solutions. In February 2017, KKR acquired a majority stake in Optiv from Blackstone, Investcorp and Sverica. Blackstone and Optiv management retained minority interest in the company.

The acquisition increases Optiv’s ability to serve Canadian, U.S. and global clients with expanded skills, knowledge and presence. Additionally, Optiv enhances its vertical presence in government markets, with the strong business relationships Conexsys brings with the Canadian government. The transaction allows Optiv to serve private and public entities in Canada with more local resources and immediate access to Optiv’s comprehensive service offerings that help remove complexity, align the right technology and process to business needs, and optimize security investments to minimize cost and maximize protection.

“Many Canadian organizations have magnified their investment and focus on cyber security but are finding it increasingly challenging to protect against the sophisticated threat landscape,” said Cheryl McGrath, Optiv’s country general manager for Canada. “Canadian companies need the right expertise from a partner that can bring clarity to the cyber security landscape, which can sometimes feel chaotic and complex. Together, Optiv and Conexsys provide expansive local coverage in Canada to help organizations navigate a myriad of products and technologies, and evaluate their infrastructures and operations to develop safer, saner and more strategic paths forward.”

“Conexsys has been committed to serving the Canadian government and large Canadian companies with exceptional technical expertise and high-quality services for more than 30 years,” said Michael Yassin, President of Conexsys. “By joining Optiv, we are gaining access to a number of holistic service offerings that enable us to perform comprehensive security optimization—from strategy and planning straight through to implementation and management. We are very excited about this transaction and what it allows us to bring to the Canadian market.”

WeirFoulds LLP and Holland & Hart LLP served as legal advisors to Optiv on the transaction.

photo credit: Conexsys

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.