As of May 6th, all outstanding shares of BeeWare have been purchased by DenyAll with the support of its investors, Truffle Capital and Omnes Capital. Following the purchase of VulnIT in July 2012, the merger with BeeWare is an important step in the build-up strategy DenyAll has been pursuing. “This is a game changing deal, which enables DenyAll to consolidate its European leadership, double its size, improve profitability and expand globally”, says Bernard-Louis Roques, co-founder and General Partner of Truffle Capital.
Both BeeWare and DenyAll have grown responsibly in recent years, investing in the business while achieving positive operational earnings. BeeWare investors, Sofinnova Partners and Amundi Private Equity Funds, have been very supportive of the two companies coming together. “Consolidation is a natural step in a maturing market”, says Alexandre Flageul, Amundi Private Equity Funds. “We believe BeeWare and DenyAll will be able to grow faster as one company, guaranteeing the long term viability of the investment customers have made in BeeWare"