Investcorp, a global provider and manager of alternative investment products, has agreed the sale of CSIdentity (CSID) to Experian, a global information services company, for an enterprise value of $360 million.

The transaction is subject to standard regulatory approvals, a statement said.

Founded in 2006 and headquartered in Austin, Texas, CSID is a market leading provider of enterprise level identity theft protection technology solutions to businesses and government agencies. The company’s solutions, provided on the basis of a recurring software-as-a-service (“SaaS”) business model, proactively detect credit and non-credit related identity theft, notify affected parties and help restore compromised identities.

Through its technology fund, Investcorp Technology Partners III, Investcorp initially invested in CSID in December 2009 and the fund is today the majority owner of the company. Since Investcorp partnered with CSID, the company has experienced rapid growth and has become a global leader in the identity protection market.

Mohammed Al-Shroogi, co-CEO at Investcorp, said: "Cybersecurity is a trend that has long been on Investcorp’s radar and over the last decade we have established a market leading position in the sector, investing in six IT security companies. This successful exit, and the fact that the company has attracted the interest of such a strong trade buyer, is further testament to our ability to create market leaders in the cybersecurity sector.”

Fahad Murad, managing director, Investcorp Bahrain, said: “We are delighted with how CSIdentity has grown in the six years under our ownership. It is an excellent example of how Investcorp can provide operational and financial support to accelerate the development of a company.”

This transaction marks the fifth exit for Investcorp Technology Partners III, following the sale of TDX Group to Equifax; the partial exit of Fishnet through a merger with Accuvant; the ultimate full sale of Skrill Group to Optimal Payments (now renamed Paysafe Group); and the flotation of Sophos Group  on the London Stock Exchange.  – TradeArabia News Service