Private Equity Giants Buy Cybersecurity Firm for $400 Million

Monday, February 26

The trend of private equity firms snapping up cybersecurity businesses continues.

BlackRock and Pamplona Capital Management have jointly acquired PhishMe, a cybersecurity company based in Leesburg, Va., in a deal that valued the firm at $400 million.

Pamplona has purchased a two-thirds stake in the business, while BlackRock has bought the remainder, a person familiar with the terms of the deal told Fortune.

In addition to the change in ownership, PhishMe on Monday rebranded itself as “Cofense.” The new name derives from a combination of “collaborative” (or “collective”) and “defense."