Mimecast Announces Next Step in Our Journey: Becoming a Private Company Through Transaction with Permira

I co-founded Mimecast 19 years ago with Neil Murray with the goal of creating a company that would radically improve the way email security, data and resilience was managed. We pioneered by building a new type of platform using cloud technology that was designed to serve tens of thousands of organizations to deliver security, continuity and data archiving for email. Today we are proud to serve 40,000 customers, including some of the largest and most security sensitive organizations in the world, across dozens of countries. And we have built an organization that we Mimecasters are all fiercely proud to work for. We have also expanded our platform to deliver a range of additional solutions tackling some of the toughest security problems of our time. Our work and innovation continue apace in this important field of work.

In the early days of Mimecast, Neil would say “success will bring us many options.” While building a business from scratch involves taking risk and bringing resilience from founders and early employees, our growth story has truly taken a village to succeed at scale over almost two decades. More recently as a successful public company over the past 6 years we’ve doubled down further, and the culture and organization we’ve built have indeed created many exciting options. 

Today we announced the next step in our journey. We intend to become a private company through a transaction with funds advised by Permira, a global private equity firm focused on transformational growth at scale. Permira is excited to be part of this next chapter with us. 

Obviously, a deal like this delivers significant, immediate cash value to our shareholders, and I am confident it is the right path forward for our company as well. Permira has a strong track record of supporting companies’ growth ambitions and strategic goals. They know us and we know them – they have been a customer of ours for some time. I know they share our vision and will be a great partner for Mimecast in our next phase of growth.

None of this would be possible without the hard work and dedication of Mimecasters around the world, and the trust of our customers and partners. In this next chapter, we will continue to live the Mimecast Way as one team. We will continue to put our customers first, investing in our platform and team to deliver continued innovations and best-in-class service. We will continue to be grounded in a culture of innovation, integrity, and creativity. 

We are looking ahead with great optimism and excitement. Our dedication to protecting the channels, the data, and the people within digital workplaces around the world has never been more important. Cyber threats and risks impact lives and livelihoods every day. We are proud to be at the forefront of helping customers succeed, especially across the number one attack vector which to this day remains email.

Cheers,

Peter

Safe Harbor for Forward-Looking Statements

Certain statements contained in this communication may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “predicts,” “plans,” “expects,” “anticipates,” “believes,” “goal,” “target,” “estimate,” “potential,” “may,” “might,” “could,” “see,” “seek,” “forecast,” and similar words. Forward-looking statements are based on Mimecast’s current plans and expectations and involve risks and uncertainties which are, in many instances, beyond Mimecast’s control, and which could cause actual results to differ materially from those included in or contemplated or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement; (ii) the failure to obtain approval of the proposed transaction by Mimecast shareholders; (iii) the failure to obtain certain required regulatory approvals to the completion of the proposed transaction or the failure to satisfy any of the other conditions to the completion of the proposed transaction; (iv) the effect of the announcement of the proposed transaction on the ability of Mimecast to retain and hire key personnel and maintain relationships with its key business partners and customers, and others with whom it does business, or on its operating results and businesses generally; (v) the response of competitors to the proposed transaction; (vi) risks associated with the disruption of management’s attention from ongoing business operations due to the proposed transaction; (vii) the ability to meet expectations regarding the timing and completion of the proposed transaction; (viii) significant costs associated with the proposed transaction; (ix) potential litigation relating to the proposed transaction; (x) restrictions during the pendency of the proposed transaction that may impact Mimecast’s ability to pursue certain business opportunities; and (xi) the other risks, uncertainties and factors detailed in Mimecast’s filings with the Securities and Exchange Commission (SEC). As a result of such risks, uncertainties and factors, Mimecast’s actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Mimecast is providing the information in this communication as of this date and assumes no obligations to update the information included in this communication or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It

This communication has been prepared in respect of the proposed transaction involving Mimecast Limited and Permira, and may be deemed to be soliciting material relating to the transaction. In connection with the transaction, Mimecast will file a proxy statement on Schedule 14A relating to a meeting of shareholders with the Securities and Exchange Commission (SEC). Additionally, Mimecast may file other relevant materials in connection with the transaction with the SEC. Investors and securityholders of Mimecast are urged to read carefully and in their entirety the proxy statement and any other relevant materials filed or that will be filed with the SEC when they become available because they contain or will contain important information about the transaction and related matters. The definitive proxy statement will be mailed to Mimecast shareholders. Investors and securityholders will be able to obtain a copy of the proxy statement, as well as other filings containing information about the transaction that are filed by Mimecast with the SEC, free of charge on EDGAR at www.sec.gov or on the investor relations page of Mimecast’s website at www.mimecast.com. 

Participants in the Solicitation

Mimecast and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Mimecast in respect of the transaction. Information about Mimecast’s directors and executive officers is set forth in the proxy statement for Mimecast’s 2021 Annual General Meeting, which was filed with the SEC on July 26, 2021. Other information regarding the participants in the proxy solicitation and a description of their interests will be contained in the proxy statement and other relevant materials to be filed with the SEC in respect of the proposed transaction when they become available.

Results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Mimecast is providing the information in this communication as of this date and assumes no obligations to update the information included in this communication or revise any forward-looking statements, whether as a result of new information, future events or otherwise.