Clearswift, a leading global provider of intelligent security solutions, today reports its fifth consecutive year of profit improvement supported by growth in overall business performance in FY12 (year ending 31/3/12). This is underpinned by the growth of core Gateway product bookings in excess of 24% and represents growth in excess of the market overall.
Chief Executive Richard Turner says: "Investment in our core content inspection technologies and focus on medium and large enterprise accounts continues to pay dividends. We have more than tripled EBITDA this year, generating a 24% growth in Gateway product bookings, while 85% of our revenue is recurring.
As a UK business with global reach, a growing market ($1.5bn), supportive investors and a commitment to product and service quality, our financials demonstrate that Clearswift has created a compelling platform for growth. Our strong financial position and shareholder backing means we can now grow through both an organic strategy and targeted M&A activity."
Chairman Martin Leuw adds: "Clearswift's recent growth and excellent product reputation have been achieved through the development of its integrated Web and Email Gateway suite, designed to address new and evolving technology challenges to the level of sophistication required by some of the world's most security conscious organisations.
This year's strong performance has been strengthened further by the backing of Lyceum Capital, and we anticipate another year of strong organic revenue and profit growth. With the support of Lyceum Capital, who have an impressive track record of growing businesses, we are well equipped to execute an accelerated growth strategy. I believe our continued focus on enabling businesses to embrace digital communications - efficiently, confidently and with minimal risk - will be rewarded further in the next financial year."
The completion of the sale of Clearswift in December 2011 to Lyceum Capital and management has added further strength to the underlying finances of the group. Lyceum Capital, an independent mid-market private equity investor, specialises in buying and building companies that operate in the UK mid-market. Lyceum works to create value by driving operational improvements, supporting organic growth and sourcing and funding complementary acquisitions.
Clearswift's content-aware, policy based solutions (Clearswift SECURE Web Gateway, Clearswift SECURE Email Gateway, MIMEsweeper for SMTP) enable over 17,000 organisations in 50 countries to manage and maintain no-compromise data, email and web security across all gateways and in all directions.
Clearswift developed many features the security industry now considers standard, such as image scanning, policy-based encryption and user-level message tracking. Clearswift's content-aware solutions enable safe and effective communication without compromising on security.
Headquartered in Reading, UK, Clearswift operates out of offices based in regional hubs in Sydney, Australia; Munich, Germany; Tokyo, Japan; Madrid, Spain; and New Jersey, United States.
For additional information please contact
T: +44 (0) 118 903 8141
T: +44 (0) 207 300 6251
About Lyceum Capital:
Lyceum Capital is an independent investment firm that invests in innovative and growing mid-sized UK-headquartered businesses. Having acquired over 80 companies in the UK and internationally over the last ten years, Lyceum plans to invest a further £300 million in the UK over the next two to three years.
Lyceum Capital makes highly targeted investments in mid-sized businesses with the potential to become larger participants in fragmented and growing sectors; it has a strong track record across a number of industries.
Lyceum Capital works alongside management teams to increase scale by driving growth through investing in infrastructure and improved operations as well as sourcing and funding complementary acquisitions in the UK and internationally. Through a combination of investment, operational and strategic input, Lyceum Capital helps management build robust and successful businesses with good long-term growth prospects.
For more information on Lyceum, contact Emily Hargreaves on 0161 235 0320 or James Lloyd-Davies on 0161 235 0308.