Timus Networks Acquired by US-Based CyberFOX

Timus Networks, a cloud-based network security solutions provider founded by Tuğrul Tekbulut and Ahmet Polat, has been acquired by CyberFOX, a US-based cybersecurity company and a portfolio company of Level Equity. The financial details of the deal have not been disclosed yet. This acquisition marks a significant milestone for Timus Networks, which has established itself as a key player in the midmarket cybersecurity space. The company is known for its innovative approach to securing cloud environments for small and medium-sized businesses.

Tuğrul Tekbulut is also the founder of Logo Software, one of Turkey's leading software companies. In 2022, Tekbulut had announced his ambition to expand Timus Networks' footprint in the cybersecurity sector. The acquisition is seen as a testament to the success of Turkish entrepreneurship and engineering on a global scale. Timus Networks' investor base includes prominent venture capital firms such as Logo Ventures and Techone Ventures.

During the acquisition process, Creston Partners served as the exclusive sell-side financial advisor to Timus Networks' shareholders. Igniters Tech provided legal counsel, while McKay offered financial and tax advisory services to the sellers. These professional teams played a crucial role in ensuring a smooth transaction. The deal represents a high-profile exit for Timus Networks' investors.

In his statement regarding the acquisition, Tuğrul Tekbulut emphasized that Timus is one of the few Turkish companies that have successfully entered the US midmarket. He highlighted the challenges of penetrating this market, noting the need to convince Managed Service Providers (MSPs) both technically and commercially, especially as a foreign company. Tekbulut expressed pride in adding a new chapter to the global success story of Turkish engineering and entrepreneurship.

Timus Networks will continue its operations under the Timus brand within the CyberFOX portfolio. Existing partners and customers will experience no disruption in service, support, or contracts. CyberFOX plans to integrate Timus into its partner program and product roadmap in the coming period. This integration is expected to create synergies and drive further growth for both companies.