Security Awareness Platform KnowBe4 Receives Offer to Go Private

Security awareness training and simulated phishing platform KnowBe4 has announced that it has received a non-binding proposal from investment firm Vista Equity Partners to acquire all its outstanding shares for $24 per share — 39% higher than its closing price Friday (Sept. 16).

KnowBe4 said Monday (Sept. 19) in a press release that its board of directors has formed a special committee that will review this proposal and other potential opportunities and that there’s no certainty that the proposal will be accepted.

“The [board] regularly considers opportunities to enhance value for its stockholders,” the company said in the release. “In response to an inquiry from Vista, the board formed a special committee of the board, comprised solely of independent directors … to engage with Vista and take other actions that it deems appropriate, with the assistance of independent financial and legal advisors.”

KnowBe4 is used by 52,000 organizations around the world to provide awareness training around security issues such as ransomware, CEO fraud and other social engineering tactics.

When the company added a tool to counter CEO fraud — also known as business email compromise (BEC) — in 2016, it explained that KnowBe4’s tool tests if users will interact with hackers on the other end of a phishing email.

Read more: KnowBe4 Phishing Tool Looks to Take Down CEO Fraud

“Email is the No. 1 attack vector avenue of entry into the enterprise,” KnowBe4 CEO Stu Sjouwerman said at the time. “Once inside, cybercriminals can monitor the financial connections and interactions within the company.”

As PYMNTS reported in April, a survey found that 80% of cybersecurity leaders around the world consider ransomware and similar attacks to be among the most critical threats to public safety.

See more: Report Says 73% of Consumers Want Control Over How to Prove Their Identity

Phishing, account takeover (ATO) attempts and other scams are escalating, according to the latest “Alternative Payments Tracker,” a PYMNTS and Socure collaboration.