Steven Mnuchin’s Liberty Strategic Capital acquires bulk stake in Dallas, Texas-based Zimperium Mobile security company Zimperium announced on Tuesday that it will be acquired for roughly $525 million by Liberty Strategic Capital, the personal equity firm established by Steven T. Mnuchin, a successful business person and financier who served as Treasury Secretary under President Donald Trump.
Zimperium’s solution offers on-device security for mobile devices and apps to safeguard versus both recognized and unidentified risks, consisting of device, network, phishing and application attacks.
“Mobile phone and applications are an important part of life for people around the globe. They include or function as an entrance to the most sensitive personal and organizational information, making them an incredibly valuable target for attackers,” said Secretary Mnuchin.
With the investment, Liberty Strategic Capital will obtain a controlling interest in Zimperium and place Mnuchin as chair of the business’s Board of Directors.
SoftBank, which has actually been an investor in Zimperium given that 2017, will continue as a minority financier.
During his stint as the 77th Treasury Secretary of the United States, Mnuchin was also member of the National Security Council and helped form the U.S. government’s method to cyber dangers, consisting of monitoring the design of financial sanctions targeting Iranian, Russian and North Korea.
For more than 10 years, Mike Lennon has actually been carefully keeping an eye on the hazard landscape and evaluating trends in the National Security and enterprise cybersecurity area. In his role at SecurityWeek, he manages the editorial instructions of the publication and is the Director of a number of leading security industry conferences around the world.Previous Columns by Mike Lennon: