Specops Software acquired by Monterro
Stockholm, August 21, 2019 – Specops Software is excited to announce that the equity investment firm, Monterro has become the majority owner of Specops Software. Specops Software and Monterro jointly see the acquisition as a great opportunity for accelerated expansion within the identity and access management industry.
Specops Software, a leading provider of password and authentication solutions, has been privately held since the company was founded in 2001. Specops Software protects business data by blocking weak passwords and securing user authentication with cloud-based cyber security software. With more than 2000 customers in 50 countries, Specops Software has seen tremendous success delivering cutting-edge password security solutions.
Frequent, high-profile data breaches are driving the need to remove all compromised passwords, often leaked from a previous breach. Credential stuffing makes up more than 90 percent of all login attempts on many of the world’s largest websites. Specops Software prevents data breaches by checking passwords against a list of leaked and weak passwords and blocking these passwords.
“We are excited to have Monterro as a majority investor,” says Marcus Kaber, CEO of Specops Software. “Their operational experience will help further accelerate the strong growth we are experiencing. The demand for our password security software is growing given that 80 percent of data breaches stem from weak or leaked passwords.”
Monterro is the largest investor in the Nordic region focusing exclusively on B2B software companies. Monterro closed its third fund at 2.5 billion SEK in January 2019. In total, the firm manages 4.3 billion SEK and has completed ten investments and eight add-on investments.
Monterro has extensive experience in developing Nordic B2B software companies. Together with the team at Specops Software, Monterro will work to expand the company by further developing the products, strengthening the organization, and accelerating the geographical expansion.
“Specops Software fits well into our corporate portfolio, as a fast-growing cloud company with highly relevant technology,” says Thomas Bill, CEO at Monterro. “Specops Software has deep expertise within password security and authentication, and the company has a large customer base in Europe and the United States. We are excited to work with Specops Software to support them in their efforts to continue to build and expand the company.”
About Specops Software
Specops Software is the leading provider of password management and authentication solutions. Specops protects your business data by blocking weak passwords and securing user authentication. With a complete portfolio of solutions natively integrated with Active Directory, Specops ensures sensitive data is stored on-premises and in your control. Every day thousands of organizations use Specops Software to protect business data.
Aimée Ravacon, +46846501241
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies such as Pointsec, Episerver, and Orc Software, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 30 percent, comes from Monterro’s founders and employees. Since it was founded in 2012, Monterro has completed ten investments and eight add-on investments.