“This is our first investment as a firm, and we are excited to welcome these four businesses to Dry Line and are ready to get to work,” said Michael Girdley, Partner at Dry Line.
SAN ANTONIO (PRWEB) September 21, 2021
Dry Line Partners LLC (“Dry Line”) and Porthcawl Holdings LLC (“Porthcawl”) today announced it supported Jungle Disk, the leading cybersecurity suite for main street, in its acquisition of the KeepItSafe, LiveVault and OffsiteDataSync assets from J2 Global, Inc (“J2”).
KeepItSafe, LiveVault and OffsiteDataSync, which comprised J2’s B2B Cloud Backup businesses, serve thousands of enterprise and SMB clients across four continents. With today’s announcement, Jungle Disk adds these three scaled offerings to its notable portfolio of cybersecurity software solutions.
“The addition of KeepItSafe, LiveVault and OffsiteDataSync to our suite of offerings enables Jungle Disk to better serve our existing customers, expands our geographic and product footprints and drastically enhances our scale,” said Bret Piatt, CEO of Jungle Disk and Partner at Dry Line. “We are thrilled to welcome the customers, employees and partners of these excellent businesses to the Jungle Disk family, and we firmly believe that adding these businesses to Jungle Disk will greatly enhance the customer experience and provide employees and investors with critical mass and greater resources for future growth.”
KeepItSafe, LiveVault and OffsiteDataSync boost and complement Jungle Disk’s robust software suite by providing a broader offering of trusted data backup and disaster recovery offerings for midmarket and enterprise customers. Customers from heavily regulated industries like healthcare, information technology and financial services have trusted KeepItSafe, LiveVault and OffsiteDataSync as a key data protection provider for many years.
In addition, the acquisition provides Jungle Disk with additional proprietary software, while also expanding third party software offerings for customers with diverse needs.
“This is our first investment as a firm, and we are excited to welcome these four businesses to Dry Line and are ready to get to work,” said Michael Girdley, Partner at Dry Line. “This is a quintessential Dry Line investment, and we are looking forward to welcoming these businesses to San Antonio.” Dry Line, a private equity firm based in San Antonio and Austin, plans to acquire additional recurring revenue technology businesses in the future.
"Under Porthcawl ownership Jungle Disk has laid a foundation that has created value for its customers, employees and investors. We are thrilled to take Jungle Disk to the next level with the addition of these three complementary businesses," said Huw Edwards, Partner and Co-Founder of Porthcawl. Porthcawl acquired Jungle Disk from Rackspace in 2016 and moved it to the emerging tech district in downtown San Antonio. The combined business will be headquartered in San Antonio.
DH Capital, LLC served as exclusive financial advisor to J2 on the transaction and K&L Gates LLP served as primary legal counsel.
Queen Saenz + Schutz served as legal counsel to Porthcawl Holdings and Jungle Disk on the reorganization and debt financing for the transaction.
About Jungle Disk
Jungle Disk, the cybersecurity suite for main street, provides data backup, cloud storage, password management, email archiving and security awareness training to protect critical data from system failure, human error and cyberattacks. Headquartered in San Antonio, TX, the Jungle Disk team serves customers across the globe with data centers in North America and Europe. For more information, visit http://www.jungledisk.com.
About KeepItSafe, LiveVault and OffsiteDataSync
KeepItSafe® is a premium, white-glove service for online backup, disaster recovery and business continuity — and one of the only global recovery providers awarded IS0 27001 certification for information security management.
LiveVault® founded in 1996, delivers fully automated, turnkey, backup over the Internet or a private network connection for uninterrupted remote data protection. LiveVault provides automated and continuous backup, with protection intervals as low as every fifteen minutes, to ensure data is protected as it is created.
OffSiteDataSync® is a global provider of highly available and secure cloud data protection solutions, including Infrastructure (IaaS), Disaster Recovery (DRaaS) and Backup (BaaS). We deliver best in class data protection and availability solutions built on market leading technology from Veeam, Zerto, VMware, and Cisco. Its global footprint spans across North America, Europe, Australia and New Zealand meeting its diverse customer compliance needs, including SOC 2, ISO 27001, PCI-DSS and HIPAA.
About Dry Line Partners LLC
Dry Line Partners, founded and advised by industry executives and investors, is a private equity firm based in San Antonio and Austin focused on acquiring B2B recurring revenue technology businesses.
About Porthcawl Holdings LLC
Porthcawl Holdings, founded on the belief in a technology-powered future of the world, is a private equity firm based in San Antonio with investments in cybersecurity, IT services. and insurance. For more information, visit https://www.porthcawlholdings.com.