BlueCat Networks (“BlueCat”) has announced its acquisition by Madison Dearborn Partners.

BlueCat is a high growth developer of the industry’s next generation software-based Enterprise DNS Solutions Platform that enables the secure deployment and management of business-critical applications in multi-cloud environments and complex IoT networks.

Trident Capital, a predecessor fund to Trident Capital Cybersecurity, was an early investor in BlueCat.

We would like to congratulate the founders -- Michael Hyatt and Richard Hyatt -- Michael Harris (CEO), Andrew Wertkin (CTO) and the entire BlueCat team on today’s announcement.

Michael Hyatt and I first met in late 2010 and it was evident in that meeting that Michael was exceptional - an ambitious, clear thinking and driven serial entrepreneur. He has worked closely with his brother Richard to create successful software businesses in Canada.

In 2011, Trident Capital led a $16.8m investment in the company and decided to partner with the founders to grow the company into a global leader and recruit a world-class team led by CEO Michael Harris and CTO Andrew Wertkin.

It has been a pleasure to partner with the operating team in helping drive strategy, gain customer traction and refine the product offerings.

We are most excited about the prospects of BlueCat’s DNS Security, a cloud-based solution that leverages the power of DNS data through advanced behavioral models and DNS query analytics to provide customers with internal and external threat detection and prevention. Our initial investment thesis in BlueCat was based on the critical importance of DNS to cybersecurity. The product vision driven by Andrew Wertkin and team provides tremendous visibility of the network activity that is critical to detect and prevent cyberattacks.

Today marks an important milestone for the team. We have been fortunate to partner and work closely with one of the most entrepreneurial teams in Canada.

The best is yet to come….

Michael Hyatt, BlueCat founder & Executive Chairman

"We are fortunate to have selected Trident as our partner. I can say without hesitation that they brought us tremendous value, including making introductions to top talent and bringing a few of our largest and most important clients. I will also always be grateful for the advice and working relationship we have with Alberto Yépez".

Michael Harris, BlueCat Chief Executive Officer

“I want to thank Alberto Yépez and Trident Capital for their support of us since their investment in BlueCat. They were a key part of our strategic direction, and brought great value to us as we executed on our plan.” 

Andrew Wertkin, BlueCat Chief Technology Officer

“Alberto Yépez and the Trident Capital team were key both to my joining BlueCat and, also were constant advisors as we developed product and market strategies to accelerate growth.”