Ropes & Gray Reps Belden in $710M Tripwire Buy
Networking and cable products maker Belden Inc. said Tuesday that it will drop $710 million in cash to buy private equity-backed Internet security company Tripwire Inc., in a deal guided by Ropes & Gray LLP, as Belden looks to add a data security component to its growing portfolio.
With its proposed acquisition of Tripwire, which has been owned by private equity firm Thoma Bravo LLC since 2011, the St. Louis-based Belden will be picking up a highly profitable cybersecurity solutions provider that generates approximately $165 million in annual revenue, has more than 400 employees, serves more than 9,000 customers, including half of the Fortune 500 companies, and comes in No. 2 in terms of market share in the so-called vulnerability management sector, Belden said.
"As a leading supplier of signal transmission solutions for mission-critical networking applications, this acquisition is an important and natural extension of Belden's capabilities," Belden President and CEO John Stroup said in a statement.
Portland, Oregon-based Tripwire provides software and services designed to prevent, detect and respond to data security threats, as well as applications that secure networks in data centers and control rooms.
The companies have already been collaborating on joint initiatives.
In September, Belden and Tripwire announced a joint initiative to improve critical infrastructure cybersecurity in manufacturing organizations. The partnership provided cybersecurity solutions tailored to specific customer requirements, Belden said.
“We look forward to incorporating Tripwire technology into selected Belden products and providing Tripwire with access to existing Belden customers that are anxious to improve the robustness and security of their networks,” Stroup said. “This positions Belden as a leader in helping customers deploy and secure the ‘Internet of Things.’”
Belden specializes in signal transmission solutions and its products are designed to meet the network infrastructure needs of industrial, enterprise and broadcast markets.
Belden is represented by a Ropes & Gray LLP team that includes Howard Glazer, Harry Rubin, Othon Prounis, Allie Alperovich, James Dowden, Thomas Burke, and Richard Conklin.
Counsel information for Tripwire was not immediately available.
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