Cybersecurity assets are being snapped up this year as high-profile hacks push the industry into the spotlight. Permira also announced a deal in May for Israeli fraud protection firm BioCatch. CyberArk Software Ltd. agreed to buy Thoma Bravo-backed Venafi that month, and cloud security firm Wiz Inc. hit a $12 billion valuation in its latest funding round.
Exclusive Networks shares rose 8.3% to €23.60 at 9:08 a.m. in Paris trading. The stock had gained about 12% this year through Monday’s close. Permira is the company’s biggest shareholder, controlling more than half of the shares according to data compiled by Bloomberg.
Talks about a deal for Exclusive Networks are taking place in the aftermath of France’s election, which saw a coalition of left-wing parties win the most seats in the country’s National Assembly but fall short of an absolute majority. The outcome may create an additional hurdle to getting transactions done in France, with some investors possibly becoming nervous about striking deals in an uncertain political environment.