85 Advisors acts as exclusive financial advisor to Foxpass on its sale to Splashtop
NEW YORK, NY – March 23, 2023 – 85 Advisors is pleased to announce the sale of Foxpass – a provider of cloud-based, identity-centric network and server access solutions for IT and DevOps systems – to Splashtop, a portfolio company of Sapphire Ventures and NEA.
Foxpass delivers a secure server and network access management solution that integrates seamlessly with popular identity providers, including Microsoft O365, Google Workspace, and Okta, while its cloud RADIUS Server platform integrates with major Wi-Fi access point and virtual private network (VPN) providers, including Meraki, Ruckus, Apple, Aruba, Fortinet, Ubiquiti and others. Its industry-leading platform supports modern, password-less mechanisms to ensure that employees do not share passwords and can access only the servers and networks they need, and only when needed.
Splashtop is a leader in solutions that simplify the work-anywhere world. Its solutions for hybrid work and IT / MSP remote support. The strategic acquisition of Foxpass marks an important step for Splashtop as it builds out the industry’s most robust remote access and security offering, and enables the company to address the needs of a key segment of the market interested in elevating their security postures with powerful, enterprise-class Wi-Fi and server access management solutions..
85 Advisors acted as exclusive financial advisor to Foxpass in connection with the transaction. Financial terms were not disclosed.
A link to the Splashtop press release announcing the transaction is available here.
About 85 Advisors
85 Advisors is a strategic and financial advisory firm that helps technology companies plan, analyze and execute successful growth, financing, and M&A strategies. We work closely with our clients' senior management and board of directors to evaluate, plan and execute myriad strategic alternatives, including mergers, acquisitions, financings, joint ventures, and divestitures. Our focus and expertise extend beyond traditional investment banking services and, accordingly, we serve as a trusted and objective advisor to growth-stage and middle market technology companies on a variety of investment, growth, and operational matters. Our recommendations are informed by our extensive domain expertise paired with rigorous analysis of relevant macro, industry, company- and situation-specific factors. To this end, we have a strong track record of anticipating disruptive trends and changes in the competitive dynamics within the IT sector and advising our clients on how to exploit these shifts proactively.