Private equity deal
Quorum Cyber acquired by Livingbridge
Quorum Cyber, the Edinburgh-based cyber security business, has been acquired by UK private equity firm Livingbridge.
The deal saw Maven VCTs realise an overall return of 6.5x for shareholders after investing in the firm in the summer of 2020. It will retain a minority holding in the business.
It represents the 16th profitable private company exit for the Maven VCTs since January 2017.
Over the past 18 months Quorum has increased both annual recurring revenues and headcount fourfold and entered the US market.
It has also made several key hires including the appointment of a chairman and finance director. Critically, Quorum has strengthened its partnership with Microsoft and been recognised by industry commentators as a leading player in its sector.
Federico Charosky, CEO at Quorum Cyber, said: “This event represents a significant milestone in the story of Quorum Cyber.
“Our successful partnership with Maven has enabled us to accelerate growth and scale our business and has demonstrated what we can achieve with the right team and direction.
“I’m incredibly proud of what we have achieved during our time with Maven. The business is ideally positioned for continued rapid growth, and I look forward to working as closely with our new private-equity partner, Livingbridge.”