A private equity firm led by former US Secretary of the Treasury Steven Mnuchin plans to purchase a controlling interest in mobile security vendor Zimperium for $525 million.
This isn't the first cybersecurity play for Liberty Strategic Capital, founded by Mnuchin. The PE firm also holds investments in Cybereason, Contrast Security, and BlueVoyant. Mnuchin will serve as chair of Zimperium's Board of Directors as part of the Zimperium deal, which is scheduled to close in the second quarter of 2022.
Zimperium sells a security platform for enterprise mobile devices and their apps.
"As the use of mobile devices and the cyber threats against them proliferate, we believe Zimperium has positioned itself as the leader in securing mobile endpoints and applications," Mnuchin said in a statement.