Edinburgh-based cyber security software specialist, ZoneFox, has been sold by its shareholders – including Scottish business angel investment syndicates, Archangels and TriCap, Scottish Investment Bank and Napier University – to US-based Fortinet.
ZoneFox was established in 2010 and focuses on providing security systems that effectively combat the growing issue of insider threats to organisations across the globe. Its customers include healthcare firm, Craneware, Zenith Bank, Rockstar Games, Bede Gaming, Pinsent Masons and Virgin Care. The company employs 25 people at its offices in Edinburgh. ZoneFox was a spin-out company from Edinburgh Napier University.
Niki McKenzie, Investment Director at Archangels, said:
“ZoneFox is a Scottish technology success story around the world and Archangels is proud to have supported the business and the management team from an early stage. The threat from cyber security has never been more acute and today’s announcement signals the next chapter in the ZoneFox story, enabling the team to provide protection and support to an even wider range of organisations. We are confident that the business, and its staff, will flourish as part of Fortinet.”
Kerry Sharp, Head of the Scottish Investment Bank said:
“ZoneFox is an excellent example of an innovative Scottish technology business that’s had a clear vision from the outset on how to develop, deliver and commercialise first class cybersecurity products for businesses globally. Scottish Enterprise, through the Scottish Investment Bank, is delighted to have supported the Company and management from an early stage.
Dr. Jamie Graves, chief executive officer and founder, ZoneFox said:
“We’re pleased to join the Fortinet team and bring together our shared vision of alleviating CISO concerns about insider threats. Integrating our solution with the Fortinet Security Fabric will allow us to extend our reach to a broad spectrum of Fortinet and third-party solutions to solve customers’ most difficult challenges in network security.”