CloudShield Technologies, a Sunnyvale, California-based market leader in cybersecurity and Paladin Capital Group portfolio company, has signed a definitive agreement to be acquired by SAIC (NYSE: SAI), a global technology company.
In addition to Paladin, the company’s backers include leading Silicon Valley venture capital firms Foundation Capital, TPG Ventures, and Fuse Capital.
Commenting on the transaction, Dr. Alf Andreassen, chairman of CloudShield’s Board of Directors and managing director at Paladin Capital, was reported to say: “Matt Jones and Peder Jungck and the team at CloudShield have built a very exciting company that I am honored to have been a part of for the last six years. “The acquisition by SAIC will give them a powerful platform from which to expand the business even more broadly in the coming years”, he added.
CloudShield is a market leader in deep packet inspection (DPI), which enables a broad set of applications that secure critical communications networks, prevent data loss, enable advanced billing and user management, and reduce the cost of traditional switching in the datacenter.
According to a press release, since Paladin’s first investment in 2004, the company has increased annual revenue tenfold.
On this point, Matt Jones, CloudShield’s chief executive officer, stated: “Paladin has been instrumental in helping us reach federal customers, and our success in that sector has been one of the important drivers of our growth”.