Hines Associates (“Hines”) is delighted to announce that it acted as advisors to the Board of Exonar Ltd in its sale to NowVertical Group Inc.& Co (“NOW”).
NowVertical Group Inc.(TSXV: NOW), has entered into an agreement to acquire information security software company Exonar.
Founded in the UK in 2007, Exonar is one of only a handful of software solutions available today with the ability to find and reveal billions of structured and unstructured data records in detail, enabling businesses to use data to reduce risk, uncover business value and deliver digital transformation. Exonar’s core software offers enterprise-scale, big data architecture and machine learning technology that handles diverse data sources and types to locate sensitive and vital information, enabling users to manage compliance issues quickly and securely.
Daren Trousdell, Chairman & CEO of NOW commented:
“We believe that NOW Origin has the potential to provide the necessary support for groups across the world. As part of our efforts to bolster that offering, we are moving to bring Exonar’s cutting-edge data software into the NOW product suite. Recognized in 2021 by Tech Nation as one of the UK’s fastest-growing scaleups, Exonar provides a natural fit with our NOW Origin software stack. With data breaches and cyber security threats on the rise, NOW is committed to investing in and deploying technology that empowers our customers to make data-informed decisions around risk mitigation to protect their organizations and stakeholders.”
Danny Reeves, CEO of Exonar said:
“Today, every enterprise on the planet requires the ability to access, utilize, and protect all of their data, regardless of source and type. As a part of NOW, we can enhance our ability to provide that. We are excited by the prospect of joining the NOW team to enable our customers to take advantage of a truly remarkable stack of software and solutions at their disposal.”
Hines acted as exclusive Corporate Financial Advisors to the board of Exonar and advised on a sale process designed to optimise value for the shareholders, while finding a new owner with the right cultural fit to continue with the development of the business and its employees.