Arnold Bloch Leibler has advised Votiro Cybersec Global, a leading data and file security platform, on its acquisition by Menlo Security, an industry leader in Secure Enterprise Browsers.
The transaction involves the sale of Votiro’s operational subsidiaries, including its wholly-owned Israeli incorporated operating subsidiary, Votiro Cybersec Limited.
The transaction consideration for 100% of the shares in Votiro Cybersec Limited includes a base consideration of US$37.5 million (approx. A$60 million) plus potential earn-outs, with the proceeds in the form of 40% cash and 60% as shares in Menlo.
Headquartered in California, Menlo is backed by Vista Equity Partners, Neuberger Berman, General Catalyst, American Express Ventures, Ericsson Ventures, HSBC, and JPMorgan Chase.
Working alongside Israeli law firm, Barnea Jaffa Lande, the ABL team was led by Corporate and M&A partner Jeremy Lanzer and senior associate Vidushee Deora, and Tax partner Jonathan Ortner and senior associate George Bassil.
Commenting on the transaction, Jeremy said: “Having worked with Votiro for nearly a decade across a range of matters, we are delighted to have advised on this landmark transaction. This deal represents a significant milestone for Votiro. We congratulate the entire Votiro team as well as major shareholders Senetas Corporation and Harvest Lane Asset Management. We look forward to watching as the combined capabilities of Votiro and Menlo create a powerful force in the cybersecurity market.”
