RedLattice gets new private equity backing
Gettyimages.com / Andriy Onufriyenko
By
Ross Wilkers
The 11-year-old cybersecurity company takes the next step in its evolution and strategy by bringing in a new investor.
Cybersecurity technology company RedLattice has sold what it calls a "significant stake" in itself to AE Industrial Partners, a private equity firm specializing in the government market and other highly-regulated verticals.
RedLattice was founded in 2012 as a specialist in areas such as vulnerability research, reverse engineering, tool development and operations for defense and national security communities.
Terms of the transaction announced Thursday were not disclosed, but RedLattice said its founder and CEO John Ayers will remain with the company along with President and Chief Operating Officer Kevin Rummel.
"We are excited for the next step in our evolution as a company. The shared vision we have of disruptive innovation and technology integration into our existing capabilities present a massive opportunity to change the landscape in which we operate," Ayers said in a release.
Chantilly, Virginia-headquartered RedLattice's management team will reinvest in the company alongside AEI and retain what they call a "significant stake in the company."
For AEI, this investment represents the firm's second such move out of its third fund that launched in November.
Kirkland & Ellis worked as legal adviser and Ernst & Young as financial adviser to AEI. Miles & Stockbridge and Integral Business Counsel acted as legal advisers and Baird as financial adviser to RedLattice.