Kingswood Capital Management announced the acquisition of IDX
Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has acquired Identity Theft Guard Solutions, Inc. (“IDX” or the “Company”) from ZeroFox. IDX is a leading cybersecurity breach response platform, providing end-to-end notification, remediation, and digital protection for customers and employees affected by cyber breaches. As... The post Kingswood Capital Management announced the acquisition of IDX first appeared on AI-Tech Park.
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Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has acquired Identity Theft Guard Solutions, Inc. (“IDX” or the “Company”) from ZeroFox. IDX is a leading cybersecurity breach response platform, providing end-to-end notification, remediation, and digital protection for customers and employees affected by cyber breaches. As part of the transaction, Kingswood has partnered with the Company’s existing management team.
Ian Kelly, who will continue to lead the Company as President of IDX, commented, “We look forward to the partnership with Kingswood and believe that with their support we can further accelerate the robust growth we have experienced over the last few years. Our strength in customer service and our ability to quickly scale to manage large breaches already differentiates us from our competition. Through our Partnership with Kingswood, the focus we will gain as an independent company will help us add the incremental services and product features that will most benefit our customers. I am excited for our customers and employees as we embark on this next phase as a company.”
Headquartered in Portland, Oregon, IDX was founded in 2003 to help create a safer digital world. Since then, IDX has helped countless organizations – including key government agencies and leading Fortune 500 companies – respond to data breaches. The Company is also trusted by millions of consumers to protect their valuable data and prevent identity theft. IDX’s core breach response business provides response services for data breaches, including notifications to impacted individuals, security call center support, informational webpages, and monitoring and digital protection. The Company’s growing Incident Response business provides consulting and execution services to contain, respond to, and recover from cyberattacks and proactively assess risks.
“From its founding, IDX was a pioneer in the rapidly growing breach response market and we are excited to partner with Ian Kelly and the rest of the IDX team to make further investments in the business and continue to grow the company,” said Michael Niegsch, Partner at Kingswood. “This transaction represents Kingswood’s fourth corporate carve-out in the last ten months, demonstrating the faith corporate sellers have in Kingswood as a trusted partner in effectively transitioning divested business units to standalone entities.”
PJT Partners served as exclusive financial and capital markets advisor to Kingswood in connection with the transaction. McDermott Will & Emery LLP acted as legal advisor to Kingswood. Evercore and Ropes & Gray LLP advised ZeroFox on the transaction.
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