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TA Associates, a leading global growth private equity firm, announced it has completed a majority investment in DigiCert, Inc., a leading provider of enterprise security solutions. Terms of the investment were not disclosed.
Founded in 2003, DigiCert provides online authentication and encryption services primarily through Secure Socket Layer (SSL) certificates to companies, government agencies, financial institutions, and educational and medical institutions worldwide, including some of the most recognized brands and organizations in the world. SSL protocol enables applications to transmit information securely.
Organizations must install SSL certificates, usually indicated by an “https://” designation or a padlock icon in the browser address bar, on their web servers in order to initiate secure sessions with web browsers. DigiCert is the world’s third largest issuer of high-assurance certificates, serving more than 60,000 clients in 176 countries.
“DigiCert offers a compelling value proposition to its customers,” said Jason P. Werlin, a principal at TA Associates. “The company’s differentiators include excellent customer service, best in class security and user-friendly tools, all offered at an affordable price. As a result, DigiCert has seen very strong growth over the past several years. We look forward to working closely with the company’s talented management team to continue that growth.”
“We have known the professionals at TA Associates for many years and are pleased to welcome the firm as an investor in DigiCert,” said Nicholas Hales, CEO, DigiCert, Inc. “DigiCert has grown through strategic product development, key partnerships, an unrelenting focus on customer success and attracting strong talent to strengthen DigiCert’s corporate infrastructure. A partnership with a deeply experienced firm like TA fits squarely within that focus and we are confident this will prove to be a highly beneficial and productive relationship for DigiCert.”
“We chose to partner with TA Associates because of their demonstrated experience in adding value to profitable, growing businesses such as DigiCert,” said Ryan Woodley, DigiCert’s CFO and COO. “Over the past several years, we have substantially grown revenues and increased market share primarily through earned trust and client referrals. With TA’s added support and strategic guidance we will strive to accelerate that growth.”
“Growth in the SSL certificate market is the result of several trends, including the need for web pages handling sensitive information to have secure lines for data transfer, as well as new security challenges posed by cloud computing,” said A. Bruce Johnston, a managing director at TA Associates. “In addition, the continued growth in e-commerce and the attendant need to establish secure vendor websites will foster ongoing demand for SSL certificates. DigiCert is well positioned to capitalize on these trends.”
O'Melveny & Myers provided legal counsel to TA Associates. Goodwin Procter LLP served as legal counsel and William Blair served as a financial advisor to DigiCert.