Private equity firm, Francisco Partners has completed the all-cash acquisition of Blancco for representing an equity valuation of £175 million and taken the company off the share market.
For those not in the know, Blancco provides products for organisations to protect end-of-life data against unauthorised access, safely redeploy data storage assets, and comply with increased data protection and privacy requirements.
Blancco CEO Matt Jones said that since its founding 26 years ago, it has created and delivered innovative solutions, focusing on building a world-class data eraser and diagnostic software platform.
“We are pleased to partner with Francisco Partners, who are committed to continuing to build upon the company’s strong foundation and achieve its full potential. I want to thank each employee for their dedication to Blancco and contributing to our continued success,” he said.
In June 2023, Blancco made the news as it updated its global partner programme to strengthen its channel commitment.
The group explained that, as the market continues to deal with security, compliance and sustainability issues related to the growth in data in their environment, Blancco sees an opportunity to take its leadership position within the asset lifecycle market to deliver tangible security and compliance value within the data lifecycle.
Through its channel partners, Blannco grew enterprise deals from 50 per cent to more than 70 per cent to fuel a doubling of its enterprise business in the next 2-3 years.
The group committed to a 200 per cent increase in channel investment in headcount, platform investments, programme funding and joint marketing.
