Audax Private Equity takes controlling interest in Acuant
Audax Private Equity has acquired a controlling interest in identity verification solutions provider Acuant from Insight Venture Partners, Lightview Capital and Egis Capital Partners. Audax is an alternative asset management firm specializing in investments in middle market companies.
“By bringing on Audax as an investment partner, we now have what we believe are the strategic resources to dramatically accelerate Acuant’s growth,” said Yossi Zekri, president and CEO of Acuant “With Audax on board, we plan to accelerate expansion into new product lines while continuing to innovate within our current product portfolio.”
2018 has been good for the company. Acuant exceeded its own record for profitability and sales growth and has expanded its presence with an EU office. The company also added several premier global partners, including a top credit reporting agency, as well as a top-tier global payments company and a major healthcare diagnostics company.
“Acuant offers a best-in-class product suite that addresses rising transactional fraud in the digital economy,” commented Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group. “We believe the company is strongly positioned for continued growth as organizations seek solutions to reduce risk, increase revenue and meet compliance objectives. We look forward to supporting Yossi and the entire Acuant team to continue growing the business organically and through acquisitions.”
Terms of the transaction were not disclosed.