Crossword Cybersecurity Completes Strategic Asset Divestitures
Deal News | Mar 20, 2025 | Knight Corporate Finance
In a high-stakes maneuver, Crossword Cybersecurity appointed Knight Corporate Finance to oversee the divestment of its business units after identifying a funding gap. The transaction aimed to enhance value through an asset-by-asset divestment strategy targeted at attracting sector-specific buyers. By executing four transactions within an eight-week timeframe, the process minimized buyer risk exposure and ensured continuity for customers and employees. Knight Corporate Finance, working under K3 Capital Group and alongside Quantuma, showcased exceptional expertise in the tech and cyber sectors. The divestment included the sale of Crossword's threat intelligence tools to Boxphish and its SOC and Managed Service capabilities to CyberEye Caribbean. Leaders at involved firms emphasized the professionalism and strategic planning critical to achieving successful deal outcomes under time-sensitive conditions.
Sectors
- Cybersecurity
- Corporate Finance
- IT Managed Services
Geography
- United Kingdom – Crossword Cybersecurity and Knight Corporate Finance are based in the UK, indicating the geographical focus of the deal.
- Caribbean – CyberEye Caribbean purchased Crossword's SOC and Managed Service capabilities, highlighting regional involvement.
Industry
- Cybersecurity – The article focuses on Crossword Cybersecurity's divestment of key cybersecurity services and products.
- Corporate Finance – Knight Corporate Finance plays a crucial role in structuring and executing the divestment strategy.
- IT Managed Services – Part of the divested assets include SOC and Managed Service capabilities, aligning with IT Managed Services.
Financials
- Not Disclosed – The financial terms of the transactions involving Crossword Cybersecurity's asset sales were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Crossword Cybersecurity | Target Company | Company | The company that engaged Knight Corporate Finance for asset divestment. |
| Knight Corporate Finance | Corporate Finance Advisor | Company | Advisors responsible for executing the divestment strategy for Crossword Cybersecurity. |
| Quantuma | Restructuring Advisor | Company | Sister company to Knight Corporate Finance, provided restructuring support for the transaction. |
| Boxphish | Buyer | Company | Acquired Crossword's threat intelligence tools. |
| CyberEye Caribbean | Buyer | Company | Acquired Crossword's SOC and Managed Service capabilities. |
| Adam Zoldan | Director | Person | Led the transaction at Knight Corporate Finance. |
| Katie Horsfield | Senior Manager | Person | Senior Manager at Knight Corporate Finance instrumental in the divestment process. |
| Stuart Jubb | CEO | Person | CEO of Crossword Cybersecurity, provided insights on the transaction's effectiveness. |