Investcorp announces sale of CSID for $360m

Manama: Investcorp, a global provider and manager of alternative investment products, yesterday announced it has agreed the sale of CSIdentity (“CSID”) to Experian, a global information services company, for an enterprise value of $360 million. The transaction is subject to standard regulatory approvals.

Founded in 2006 and headquartered in Austin, Texas, CSID is a market-leading provider of enterprise level identity theft protection technology solutions to businesses and government agencies.

The company’s solutions, provided on the basis of a recurring software-as-a-service (“SaaS”) business model, proactively detect credit and non-credit related identity theft, notify affected parties and help restore compromised identities.

Through its technology fund, Investcorp Technology Partners III, Investcorp initially invested in CSID in December 2009 and the fund is today the majority owner of the Company.

Since Investcorp partnered with CSID, the company has experienced rapid growth and has become a global leader in the identity protection market.

Mohammed Al-Shroogi, Co-CEO at Investcorp, said, “This successful exit, and the fact that the Company has attracted the interest of such a strong trade buyer, is further testament to our ability to create market leaders in the cybersecurity sector.”

Fahad Murad, Managing Director at Investcorp for Bahrain, said, “This is an excellent example of how Investcorp can provide operational and financial support to accelerate the development of a company.”

This transaction marks the fifth exit for Investcorp Technology Partners III.

Jefferies LLC is serving as exclusive financial advisor to CSID and Winstead PC is serving as its legal advisor.