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Blackstone-backed Patria creates Latam cybersecurity platform, eyes IPO

SAO PAULO : Brazilian asset manager Patria Investments Ltd has acquired cybersecurity companies Neosecure and Proteus to create the largest information security platform in Latin America, it said on Tuesday.

Patria, backed by Blackstone Group Inc, also said it plans to list shares in the new venture in the near future.

The firm did not disclose how much it has paid for the companies, but said that it will invest US$250 million in the sector.

It also aims to accelerate its growth in the information security market via new acquisitions.

The company added that its new cybersecurity venture operates in Brazil, Chile, Argentina, Peru and Colombia, with an annual revenue estimated at 500 million reais (US$91.66 million).

"Our goal is to accelerate the market consolidation through the acquisition of strategic players, and soon raise more capital via an initial public offering," said Marcelo Romcy, cofounder of Proteus and partner in the new platform.

Patria raised US$588 million in its own IPO on the Nasdaq earlier this year.

(US$1 = 5.4548 reais)

(Reporting by Gabriel Araujo, editing by Louise Heavens)

Source: Reuters


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