Audax Group Seeks Over $1.5B Sale of Cybersecurity Firm BlueCat Networks

Private equity firm Audax Group is exploring a sale of portfolio company BlueCat Networks that could value the cybersecurity provider at $1.5-$2 billion, according to sources familiar with the matter. The potential sale comes just four years after Audax acquired the Toronto-based network software company. BlueCat generates over $100 million in annual revenue and provides network control and security software. JPMorgan has been engaged to manage the sale process, reflecting continued private equity interest in cash-generative cybersecurity businesses with recurring revenue models. The sector remains attractive for M&A due to persistent cyber threats driving long-term growth.