Clearswift, the global digital security software company, has been sold to RUAG, a Swiss technology company active in defence and security across Europe, USA and Asia.
Lyceum first invested in Clearswift in November 2011 with a clear remit to halt the decline of revenues, and bring the business to profitability.
Since Lyceum’s investment, Clearswift has significantly grown its revenues and EBITDA margin – in the current year it is expected to generate revenues over £23m.
Headquartered in Theale, Berkshire, Clearswift has approximately 140 employees and global sales and distribution capabilities with a significant presence in Europe, the Americas and Asia-Pacific.
Jeremy Hand, Lyceum Managing Partner, commented, “The Clearswift team has worked hard to develop new products and extend innovative capabilities. The successful realisation of our investment confirms Lyceum’s impressive track record in software and technology. We continue to see great opportunity in the cyber security market, and are looking to partner with more UK based businesses across the space.”
Heath Davies, Clearswift CEO, said, “Over the past five years, in partnership with Lyceum, Clearswift has entirely transformed its business, building new innovative solutions and incorporating two technology add-ons. I am delighted that our high calibre executive team, staff, products, partners and customers have been recognised by an outstanding global technology partner.” Davies continued “Going forward, it is very exciting to be at the heart of the new RUAG Cyber Defence business unit. This acquisition allows Clearswift to continue on its current path, with the additional critical mass to support ambitious growth plans.”