Investment firm acquires Clearswift

Lyceum Capital has completed the purchase of Clearswift with £100m invested in security software firms.

The independent investment firm, which invests in mid-sized UK-based businesses, has taken an important majority stake within the company, with Lyceum partners Jeremy Hand and David Harland joining the company's board. Former CEO of IRIS Software, Martin Leuw, should be chairman.

Hand said: “In Clearswift, we're backing a thrilling company which deploys world-class technical expertise and software solutions across a very impressive and dependable customer base. With an already strong management team bolstered by the appearance of Martin and our strategic, operational and monetary input, we're expecting Clearswift to continue with its strong organic growth supplemented with targeted acquisitions.”

Richard Turner, CEO of Clearswift, said: “Threats and risks are increasingly becoming specific to individual customers and wish a tailored, more flexible approach. The 'one size fits all' anti-spam and anti-virus technologies many companies depend on is outdated. We're delighted to have the backing of Lyceum Capital to support the subsequent phase of our ambitious growth plans.”

Leuw said: “Clearswift is a subscription revenue business, operating in a high-growth global market, delivering mission-critical regulatory and compliance products. With the backing of Lyceum Capital we can be well equipped to execute an accelerated growth strategy.”

This transaction follows Lyceum's recent investments within the technology sector including its £30m acquisition of managed IT services provider Adapt in September, and £50m investment in Access, a software as a merchant, which completed in March. Lyceum said it plans to speculate one more £300m inside the UK over a higher two to 3 years.