A global investment firm has purchased data-wiping company Blancco Technology Group for about $221 million.
Francisco Partners on Dec. 5 announced it had completed the acquisition of Blancco, which is headquartered in London and Austin, Texas, for about 175 million British pounds sterling, or about $221 million. As a result of the transaction, Blancco shares have ceased trading on the London stock market.
A provider of data wiping and diagnostic equipment and software services, Blancco now has over 2,500 customers in 70 countries.
“Sustainability and e-waste reduction are increasing strategic priorities for customers of all sizes globally, and we see tremendous organic and inorganic growth opportunities for Blancco worldwide,” Ravi Bhatt, vice president at Francisco Partners, stated in a press release.
With offices in London, New York and San Francisco, Francisco Partners specializes in investing in technology-focused companies, although Blancco would appear to be its only holding in the electronics reuse or recycling space. In June 2022, Blancco paid up to $10 million to acquire WipeDrive, expanding Blancco’s U.S. customer base.