Friday, March 31, 2023


KnowBe4, Inc., provider of the world’s largest phishing simulation and security awareness platform, (“KnowBe4”) today announced that it has completed the acquisition by Vista Equity Partners (“Vista”), a leading global firm focused exclusively on enterprise software, data and technology-enabled organization, for $24.90 per share in cash.

“Today’s acquisition is an important milestone for the entire KnowBe4 team. It underscores our achievements to date as well as our potential for long-term growth,” said Stu Sjouwerman, Founder, President and CEO of KnowBe4 . “Vista brings the resources and operational expertise to increase customer value. We are excited to begin this next chapter and achieve our goals to remove the weakest link in cyber security.”

“While the human element is one of the most important aspects of cyber security, it is also one of the most neglected,” said Michael Fosnau, co-head and senior managing director of Vista’s flagship fund. “The opportunity to grow a business that is truly mission-critical for companies around the world is central to Vista’s investment approach and value creation efforts. This is demonstrated by Stu’s track record as a visionary founder and KnowBe4 This partnership with product leadership makes the company very exciting.”

With the completion of the transaction, KnowBe4’s shares have been delisted and are therefore no longer listed on the Nasdaq Global Select Market.

Morgan Stanley & Company LLC acted as financial advisor and Potter Anderson & Koroon acted as legal advisor to the Nobi4 Special Committee. Wilson Sonsini Goodrich & Rosati, Professional Corporation, served as legal counsel to KnowBe4.

Guggenheim Securities, LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vista.

About KnowBe4

Provider of the world’s largest phishing simulation and security awareness platform, KnowBe4 is used by over 56,000 organizations globally. Founded by IT and data security expert Stu Sjouverman, KnowBe4 helps organizations address the human element of security through awareness of ransomware, CEO fraud, and other social engineering tactics. , with a new school method in terms of training to raise awareness of the importance of safety . Kevin Mitnick, internationally recognized information security expert and KnowBe4’s Head of Hacking, helped design KnowBe4’s training courses using his well-documented social engineering tactics. Thousands of organizations trust KnowBe4 to mobilize their end users as the last line of defense.

About Vista Equity Partners

Vista is a leading global investment firm with over $95 billion in assets under management as of September 30, 2022. The firm invests exclusively in enterprise software, data and technology-enabled organizations across private equity strategies, fixed capital, credit and public. Capital, with an approach that prioritizes the creation of sustainable market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are supported by a significant long-term capital base, experience in structuring technology-driven transactions, and proven, flexible management techniques that drive sustainable growth. Vista believes that the transformative power of technology is the key to an even better future: a healthier planet, a smarter economy, a diverse and inclusive community, and a broader path to prosperity. More information can be found at Follow Vista on LinkedIn @Vista Equity Partners and on Twitter @Vista_Equity.

The original text in the source language of this release is the authorized official version. Translations are provided for adaptation only and should be checked against the text of the source language, which is the only version of the text that will have legal effect.

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