KnowBe4, a provider of security awareness training and simulated phishing platforms, has acquired Egress, which specializes in adaptive and integrated cloud email security. Financial terms were not disclosed.
This is technology M&A deal number 105 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
KnowBe4, which hosts a popular integrated security awareness training and simulated phishing platform, was founded in 2010, and is based in Clearwater, Florida. The company has 1,844 employees listed on LinkedIn. KnowBe4’s areas of expertise include internet security awareness training, network security, cybercrime prevention, and more.
Egress, founded in 2007, is based in London, England. The company has 329 employees listed on LinkedIn. Egress’ areas of expertise include anti-phishing, email data loss prevention, DLP, email encryption, email security, machine learning, secure file sharing, and secure collaboration.
About The Deal
The integration is expected to enhance KnowBe4’s email security measures by incorporating Egress' Intelligent Email Security suite into its offerings, according to the company.
Both companies have recently announced developments related to their technology offerings. KnowBe4 introduced its AI-native platform, Artificial Intelligence Defense Agents (AIDA). Egress also launched its AI-powered Automated Abuse Mailbox earlier in the year.
KnowBe4 Acquires Egress: Executive Insights
Stu Sjouwerman, CEO, KnowBe4, commented:
"The future of security is personalized AI-driven controls and real-time coaching. By providing a single platform from KnowBe4 and Egress, our customers will benefit from differentiated aggregate threat detection to stay ahead of evolving cyber threats and foster a strong security culture."
Tony Pepper, CEO, Egress, said:
"KnowBe4 and Egress have a shared vision of delivering tailored and relevant security to each employee. One of the biggest challenges organizations face is accurately identifying who the next source of compromise is – and why. By combining intelligence and analytics from integrated applications, companies can gain valuable insights across their entire cyber ecosystem, allowing them to focus on the risks that matter most."
KnowBe4’s Background
KnowBe4 is known for its cybersecurity awareness training platform. The company went public in April 2021, before being taken private again when it was acquired by Vista Equity Partners in October 2022 for $4.6 billion.
This latest transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals. Egress is backed by FTV Capital and AlbionVC, with Citi serving as the exclusive financial advisor and Orrick, Herrington & Sutcliffe LLP as legal counsel.
