Blackstone-backed Patria creates Latam cybersecurity platform, eyes IPO

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SAO PAULO, Oct 5 (Reuters) – Brazilian asset supervisor Patria Investments Ltd (PAX.O) has acquired cybersecurity corporations Neosecure and Proteus to create the biggest info safety platform in Latin America, it stated on Tuesday.

Patria, backed by Blackstone Group Inc (BX.N), additionally stated it plans to checklist shares within the new enterprise within the close to future.

The agency didn’t disclose how a lot it has paid for the businesses, however stated that it’s going to make investments $250 million within the sector.

It additionally goals to speed up its development within the info safety market by way of new acquisitions.

The firm added that its new cybersecurity enterprise operates in Brazil, Chile, Argentina, Peru and Colombia, with an annual income estimated at 500 million reais ($91.66 million).

“Our goal is to accelerate the market consolidation through the acquisition of strategic players, and soon raise more capital via an initial public offering,” stated Marcelo Romcy, cofounder of Proteus and associate within the new platform.

Patria raised $588 million in its personal IPO on the Nasdaq earlier this 12 months.

($1 = 5.4548 reais)

Reporting by Gabriel Araujo, modifying by Louise Heavens