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Business News/ Companies / Carlyle Group sells majority stake in Cyberoam to Sophos
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Carlyle Group sells majority stake in Cyberoam to Sophos

The sale amount was not disclosed

Photo: AFPPremium
Photo: AFP

Mumbai: Global alternative asset manager Carlyle Group on Monday said its affiliate First Carlyle Ventures Mauritius sold its majority stake in Cyberoam Technologies Pvt. Ltd, an Ahmedabad-based global network security appliances company, to Sophos Ltd, a developer and vendor of security software and hardware​.

It did not disclose the sale amount.

First Carlyle Ventures Mauritius acquired a majority stake in Elitecore Technologies Pvt. Ltd in 2007. The network security business of Elitecore was demerged to form Cyberoam in 2012.

“During Carlyle’s investment, the company’s revenues grew over six times and profits nearly quadrupled," Shankar Narayanan, managing director of Carlyle Group, said in a press statement.

Signal Hill was the financial adviser and J. Sagar Associates the legal adviser to Cyberoam.

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Published: 10 Feb 2014, 01:12 PM IST
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