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Sophos Group To Buyout Carlyle In Cyberoam Technologies [DealCurry (India)](DealCurry (India) Via Acquire Media NewsEdge) After making a 3x return from Tirumala Milk, Carlyle is now about to pocket over 5x returns by exiting its seven year old investment in Ahmedabad based Cyberoam Technologies. The PE fund is selling its 80% stake in the company to UK's Sophos Group, known for anti-virus products, for R500Cr.Carlyle had invested a total of $13.4 Mn in the parent Elitecore in two tranches - $10.3 Mn in 2007 and 3.1 in subsequent years. The residual 20% stake is held by the promoter Hemal Patel.Cyberoam Technologies was spun-of from Elitecore following a court order of Gujarat sanctioning Scheme of Arrangement (Demerger) between Elitecore Technologies Private Limited (ETPL) and Cyberoam Technologies Private Limited (CTPL).Cyberoam has 450+ employees with offices in USA, Middle East & India and its R&D and Global Support Management Centre in India.The company offers security solutions for the networks including solutions to secure small, medium and large enterprises. Besides network security appliances, Cyberoam offers solutions for Centralized Security Management, intelligent logging and reporting as well as Internet security appliances for homes and small offices.It is known dor detecting a bug in Facebooks OAuth process (authorizing third party access to user credentials and their servers), with a potential to cause trouble at the click of a malicious link.The buy would add Cyberoam to the likes of network security solutions and mobile management firms like Astaro and Dialogs which were acquired by Sophos. Owned Apax Partners Sophos provides threat management solutions to companies like Pixar, Under Armour, Northrop Grumman, Xerox, Ford, Avis, and Toshiba.As PE industry face bleak exit routes Carlyle seems to be making successful exits.With over $156 billion of equity capital under its management Carlyle had invested $1 billion from its Asian Growth fund in more than a dozen companies in India. In October 2012 Carlyle had exited its investment in HDFC through the open market for a consideration of $841 Mn.Carlyle's Indian portfolio consists of Allsec Technologies, Edelweiss Financial Services, IIFL, Repco Home Finance. (c) 2014 EagleEye Research & Media Pvt. Ltd. All rights reserved. Provided by Syndigate.info, an Albawaba.com company |