SecurityBrief Asia logo
Asia's leading source of cybersecurity and cyber-attack news
Story image

Vector Capital to be majority shareholder of WatchGuard

By Zach Thompson
Wed 4 May 2022

WatchGuard Technologies has announced it has entered into a definitive agreement with Vector Capital to make a large new equity investment in the business.

In addition, WatchGuard Technologies will acquire interests previously owned by Francisco Partners and other co-investors, making it the company’s majority shareholder.

WatchGuard provides network security and intelligence, advanced endpoint protection, multi-factor authentication, and secure Wi-Fi, which it says has made enterprise-grade security accessible to a range of organisations since its inception in 1996.

Furthermore, WatchGuard says its focus on providing first-class security offerings and affording Managed Service Providers (MSPs) the means to easily establish and administer these offerings has helped grow the mainstream adoption of advanced cybersecurity.

Vector Capital and Francisco Partners have had joint ownership of WatchGuard for over 10 years, during which time the company has transformed from a trusted network security vendor into a full-scale cybersecurity platform provider.

“WatchGuard has established itself as a leading cybersecurity company under our joint ownership, with a relevant product portfolio, strong partner ecosystem, and talented team of employees,” Francisco Partners partner Ben Ball says.

“We are proud of our role in supporting WatchGuard’s transformation, and we look forward to following the company’s ongoing success as they continue to pave the way for simplified security when the industry needs it most.”

WatchGuard notes that its Unified Security Platform currently facilitates the protection of environments, users, and networks for more than 17,000 MSPs in over 250,000 businesses globally.

“MSPs represent the future of security delivery, but to be successful, they need a bespoke platform built for their needs,” Vector Capital managing director Sandy Gill says.

“WatchGuard is uniquely positioned to lead the market in enabling those MSPs with its Unified Security Platform. We are excited to further invest both organically and via acquisitions in the company’s mission to deliver security-focused MSPs one vendor, one platform, and one vision to build their business upon.”

The previous ownership experience of WatchGuard has positioned Vector Capital as a strong partner for the company’s management team to fast-track its growth.

Under the agreement, WatchGuard will continue to invest in crucial areas such as cloud transformation, secure access service edge, extended detection and response, managed detection and response, and other areas of security automation and simplification for MSPs.

“Vector firmly believes in WatchGuard’s portfolio, partners, employees, and vision. This transaction is a testament to WatchGuard’s current success and the opportunity ahead,” WatchGuard Technologies CEO Prakash Panjwani says.

“We believe Vector is well positioned to further accelerate WatchGuard’s growth strategy while preserving our company culture and commitment to security delivery through the MSP community.”

“We are thrilled to continue the journey we started with WatchGuard’s employees, partners, and customers over a decade ago,” Vector Capital founder, managing director and chief investment officer Alex Slusky says.

“We are proud of the foundation of success we’ve built with WatchGuard’s management team and look forward to fueling the next phase of growth and transformation for the company.”

The companies add that the transaction is expected to close by the end of Q3 2022, subject to customary conditions.

Related stories
Top stories
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Cybersecurity
Managed service providers: effective scoping to avoid costly vendor pitfalls
Managed security services are outsourced services focusing on the security and resilience of business networks.
Story image
Remote Working
How zero trust and SD-WANs can support productive remote working
The way people connect with applications and data has changed, users are remotely accessing resources that could be stored anywhere from a corporate data center to the cloud.
Story image
Cybersecurity
The 'A-B-C' of effective application security
Software applications have been a key tool for businesses for decades, but the way they are designed and operated has changed during the past few years.
Story image
Microsoft
Microsoft unveils three new security managed services
Security Experts includes three new managed services, Defender Experts for Hunting, Defender Experts for XDR, Security Services for Enterprise.
Story image
Malware
Sharp increase in phishing as cybercriminals leverage SEO to lure victims
"Malware lurking everywhere, from cloud apps to search engines, leaving organisations at greater risk than ever before."
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Secure access service edge / SASE
Versa Networks recognised as SASE leader in Govie Awards
Versa Networks has announced its SASE offering has been recognised in The Govies Government Security Awards competition by Security Today magazine.
Story image
Public Cloud
Radware announced launch of CNP spinoff SkyHawk Security
“We recognise the growing opportunities in the public cloud security market and are planning to capitalise on them."
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
SonicWall
Find out how you and your business can prevent being caught out by everything from ransomware to cryptojacking.
Link image
Story image
Cybersecurity
World (un)Password day? Yubico releases MFA guide encouraging new ideas
In a slight departure from traditional World Password Day lore, Yubico has today announced a multi-factor authentication (MFA) guide.
Story image
Cybersecurity
CyberArk launches $30M investment fund to advance security
CyberArk has announced the launch of CyberArk Ventures, a $30 million global investment fund dedicated to advancing the next generation of security disruptors.
Story image
BeyondTrust
BeyondTrust integrates Password Safe solution with SailPoint
BeyondTrust has announced the integration of BeyondTrust Password Safe with SailPoint identity security offerings.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Ransomware
Zerto unveils updates to ransomware recovery capabilities
"Organisations face increased risks from the volume and sophistication of ransomware attacks prevalent today."
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
Cybersecurity
Companies rushing to secure print infrastructure
As the pandemic prioritised communication channels and the shift to remote work, IT departments fell behind in updating the security of print and IT infrastructure.
Story image
Forensics
Exterro adds advanced capabilities to digital forensic tool
The launch is in-line with Exterro’s investment in the FTK product line, and underscores the company's commitment to the digital forensics.
Story image
Training
Fortinet training edges toward closing cybersecurity gap
The Fortinet Training Institute has made significant progress in closing the cybersecurity skills gap, on track to train one million people by 2026.
Story image
Fortinet
Fortinet sees 34% revenue increase in latest financial results
Fortinet has released its financial results for the first quarter ended March 31, 2022, seeing a total revenue increase of 34.4% compared to the same quarter last year.
Story image
Appian
Appian awarded billions in damages against Pegasystems Inc.
Appian has been awarded USD$2.036 billion in damages against Pegasystems Inc as the result of a jury verdict in the Circuit Court for Fairfax County, Virginia.
Story image
Hyperscale
SpaceDC partners with Aofei for data center sales in Asia
SpaceDC has partnered with Aofei Data International to sell Aofei's data centers, CDN and SDN in China.
Story image
Ivanti
Ivanti and Lookout bring zero trust security to hybrid work
Ivanti and Lookout have joined forces to help organisations accelerate cloud adoption and mature their zero trust security posture in the everywhere workplace.
Story image
Artificial Intelligence
IBM study reveals changing sentiments around AI ethics
80% of respondents pointed to a non-technical executive, such as a CEO, as the primary 'champion' for AI ethics, a sharp uptick from 15% in 2018.
Story image
Surveillance
Genetec launches new enclosure management system for data centers
Genetec has released a new enclosure management solution that will give data centers the ability to secure, monitor and manage access to racks and cabinets remotely.
Story image
Malware
Use of malware, botnets and exploits expands in Q1 2022
"As zero-day attacks and other vulnerabilities among companies like Google and Microsoft come to light, threat actors are quickly adjusting their tactics."
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Digital Transformation
Physical security systems guide the hybrid workplace to new heights
Organisations are reviewing how data gathered from their physical security systems can optimise, protect and enhance their business operations in unique ways.
Story image
Tech job moves
Tech job moves - Cisco, Hitachi Vantara, Tricentis & Zscaler
We round up all job appointments from April 28 - May 5, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Firewall
Sophos named Gartner Peer Insights Customers Choice for network firewalls
The company earned the highest overall customer rating among vendors with at least 150 verified customer reviews.
Story image
Blue Prism
Blue Prism Desktop uses IA to defend against vulnerabilities
SS&C Blue Prism Desktop aims to help protect businesses against vulnerabilities, using a combination of security measures and intelligent automation tech.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Cybersecurity
New report reveals evolving techniques targeting cloud-native environments
Companies are adopting cloud-native technologies faster than ever before. Unfortunately, with new technology comes new threats and challenges.
Story image
VPN
Palo Alto Networks says ZTNA 1.0 not secure enough
Palo Alto Networks is urging the industry to move to Zero Trust Network Access 2.0 because previous versions have major gaps in security protection.
Story image
Application Security
Data Theorem launches "industry first" attack surface management solution
"No solution uses full-stack application runtime analysis and dynamic inventory discovery to support the challenges around vendor management."
Story image
SaaS
Absolute Software expands Secure Access product offering
Absolute Software is enhancing its Secure Access product portfolio, enabling minimised risk exposure and optimised user experiences in the hybrid working environment.
Story image
Data Protection
Managed Service Providers key to customer data protection
Frequent cyberattacks in the ASEAN region drive the demand for MSPs that can deliver purpose-built security solutions for SME customers.
Story image
Microsoft
Apple, Google and Microsoft expands plans to get rid of passwords
FIDO Alliance says the world is closer to not relying on passwords after Apple, Google and Microsoft expands their support for a passwordless sign-in standard.
Story image
Phishing
Developments in phishing and how to protect your business
Phishing, the practice of sending malicious emails to encourage users to perform actions that benefit an attacker, is a key security concern for modern businesses due to its prevalence and impact.
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
APAC
Odaseva expands in APAC and UK with more security features
Odaseva, a data platform for Salesforce, is establishing new headquarters in London as well as a new data center in India.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.