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Cybersecurity standards firm EC-Council weighing stake sale: sources
[HONG KONG] EC-Council, the cybersecurity certification company owned by Malaysian entrepreneur Jay Bavisi, is exploring options including a sale of significant minority stake to help boost growth, people familiar with the matter said.
Mr Bavisi is working with advisers to review options for his company, which could be valued at about US$600 million to US$800 million in any transaction, the people said. Advisers plan to send preliminary marketing documents to potential investors as early as Monday, the people said, asking not to be identified because the matter is private.
EC-Council is the world's largest cybersecurity technical certification body, according to its website. It offers accreditations including "Certified Ethical Hacker" and "Computer Hacking Forensic Investigator". The company, also known as the International Council of E-Commerce Consultants, has trained more than 200,000 information security professionals, its website shows.
While the priority of the review is to find a minority investor, Mr Bavisi could also consider a majority stake sale depending on the valuation and profile of the potential partner, the people said. Deliberations are at an early stage, and there's no certainty they will lead to a transaction, the people said. An official at EC-Council declined to comment.
EC-Council's headquarters are located in Albuquerque, New Mexico. It also has offices in India, Malaysia, Singapore, Indonesia and the UK, according to its website.