Specops Software was acquired by Monterro
Specops Software, a Stockholm, Sweden-based software company, announced getting into an investment agreement for selling the major shareholding package in the company.
The deal, which has the financial details undisclosed, was made with the Swedish investment company Monterro.
Specops Software, founded in 2001 and led by CEO Marcus Kaber, has deep expertise within password security and authentication, providing a complete portfolio of solutions natively integrated with Active Directory.
The company, which recorded about $600k in losses with the Swedish authorities in 2018, has more than 2,000 customers in 50 countries, generating in 2018 revenue of SEK 28M ($2.9M).