ZMC acquires IAM solution provider Simeio from WCAS for data security

Affiliates of ZMC, a leading private equity firm, have recently announced the acquisition of Simeio Solutions from WCAS or Welsh, Carson, Anderson, & Stowe. Simeio, which was founded in 2007, offers Identity and Access Management (IAM) solutions with its unique cloud-based IDaaS (Identity-as-a-Service) solution. These solutions are delivered through its platform of proprietary IO (Identity Orchestrator) technology and Identity Intelligence Center, a global, multi-site operations center.
Financial advisors of Simeio for this transaction agreement were Guggenheim Securities LLC and William Blair & Company, with Ropes & Gray LLP acting as legal advisor. On the other hand, ZMC's legal advisor was Sidley Austin LLP.
Simeio is known for being the leading provider of IAM solutions among industry analysts. Its IDaaS solution to manage IAM software allows enterprise clients to gain access to a comprehensive suite of services that are highly secure, technology agnostic, and scalable solutions.
The company has been forming strategic partnerships with various IAM vendors to promote business development and accelerate organic growth. Through these partnerships, various cloud, on-premise, and hybrid technology platforms are equipped with privileged service management, risk intelligence, and identity governance and administration services.
ZMC's Co-chief Investment Officer and Managing Partner, Andrew Vogel, commented on ZMC's excitement regarding the partnership deal with Simeio's management team, a leading IAM solutions provider for enterprises clients. The company plans to leverage Simeio's excellence in the field of multi-vendor IAM infrastructure with constant investment on innovating products and technologies to up-scale the delivery platform.
According to ZMC's Principal, Ripan Kadakia, the company's prime focus on service providers in the rising data security industry rightly suits its recent investment in Simeio. The company believes that, several vendors will identify Simeio as a specialist partner to safeguard mission critical information assets and obtain operational value creation.
Simeio's CEO and Founder, Hemen Vimadalal also stated that the recent partnership with ZMC will help accelerate company's growth in the IAM space to better serve existing enterprise customers.
Detailed terms of the transaction are yet to be disclosed.
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https://www.manchestertimes.com/news/business/zmc-partners-with-simeio/article_a61f67ec-a59a-59d0-981a-1ff54986dc2a.html