Osborne Clarke and LK Shields advised Tenzing on the deal.
Tenzing invested in MetaCompliance, a market-leading cybersecurity awareness training and compliance platform.
Founded in 2005, the business’ pioneering cloud-based software enables companies to train their employees around cyber threats and to comply with regulatory requirements, thereby protecting against data breaches and avoiding hefty fines and reputational damage. Its suite of products is unique in spanning both security awareness training, as well as compliance, with management workflow modules for data privacy compliance.
Security breaches represent an increasing risk for businesses, and companies of all sizes are driving the demand for cybersecurity protection and awareness solutions. The significant financial repercussions for data breaches under GDPR, in addition to reputational damage, have driven strong growth in the market, which is both COVID-resilient and growing at c.27% a year. The market is estimated to be worth $750m globally.
The Osborne Clarke team was led by Private Equity Partner Tim Hewens (Picture) with support from Associate Director Pippa Byrne and Associates Charles Sunley and Hannah Rossi. Partner David Nisbet and Associate Director Luolan Dong advised on tax matters, Senior Associate Lara Flynn advised on employment and Partner Max Millington and Associate Jon Dodds on banking matters.
The LK Shields team comprised Richard Curran (Partner, Corporate) and Ciara Doris (Associate, Corporate).
Involved fees earner: Richard Curran – LK Shields Solicitors LLP; Ciara Doris – LK Shields Solicitors LLP; Pippa Byrne – Osborne Clarke; Jon Dodds – Osborne Clarke; Luolan Dong – Osborne Clarke; Lara Flynn – Osborne Clarke; Hannah Rossi – Osborne Clarke; Tim Hewens – Osborne Clarke; Max Millington – Osborne Clarke; David Nisbet – Osborne Clarke; Charles Sunley – Osborne Clarke;
Clients: Tenzing Private Equity;