Investment firm Turn/River Capital has purchased Tufin, a network security policy and firewall management software provider, for approximately $570 million in cash. The acquisition includes a 30-day "go-shop" period that expires May 5, 2022; during this time, Tufin's board of directors and advisors can solicit alternative acquisition proposals from third parties.
This is technology M&A deal number 340 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Tufin will become a private company as part of the acquisition, the company indicated. It will partner with Turn/River to help the investment firm's customers use policy-driven automation to address security threats.
A Closer Look at Tufin
Tufin provides network security policy management solutions to help organizations deploy a zero trust architecture, the company said. These solutions are designed for network and cloud security teams and include:
- Cloud Security: Helps organizations automate cloud security checks and manage data center and private workloads.
- Compliance: Enables organizations to comply with security regulations and prepare for audits.
- Network Automation: Allows organizations to optimize their firewalls and automatically provision network security policy configurations.
- Risk Management: Ensures organizations can manage segmentation across their networks and analyze security risks.
Tufin offers a partner program that allows MSSPs to offer Tufin-as-a-service, the company said. MSSPs can use Tufin-as-a-service to deliver white-labeled managed security services.
What Does the Tufin Acquisition Mean for Turn/River Capital?
Tufin will expand into new markets and explore opportunities to reach new customer segments, said Tom Schodorf, the lead director of the company's board. In doing so, Tufin could help Turn/River capitalize on rising demand for network security policy management solutions globally.
The global network security market is projected to expand at a compound annual growth rate of 16.7 percent from 2020 to 2027, according to industry analyst Allied Market Research. This market also could be worth more than $63 billion by 2027.