Cybersecurity services providers Fishtech Group and Herjavec Group have announced their plans to merge. The merge is backed by funds advised by Apax Partners LLC.

Following the deal, the two firms will operate as a single entity under a new brand. Apax Funds will hold a majority stake in the new firm while Robert Herjavec and Gary Fish, CEO of Herjavec Group and Fishtech group respectively, will each maintain significant equity holdings.

The deal will combine the complementary strengths of both firms in order to deliver a powerhouse with broad and holistic managed detection and response capabilities, professional services, and identity offerings. Herjavec brings knowledge within cloud and tech-enabled co-managed SIEM while Fishtech brings its experience in enterprise MDR in order to provide customers with security and cloud expertise.

“We could not be more thrilled to join forces with industry pioneer Gary Fish, whom I have known for decades,” said Robert Herjavec, CEO of Herjavec Group. “We are very impressed by Fishtech’s MDR offerings and its proprietary platform built on Google Chronicle, which we consider highly differentiated. Jointly, we want to double down on the investment behind this market-leading solution and strengthen what are already deep partnerships.

Polsinelli serves Fishtech Group as legal counsel and Kirkland & Ellis LLP is serving as legal counsel to Herjavec Group and Apax Funds. Momentum Cyber is serving as financial advisor to Fishtech Group and BKD, LLP as tax advisor in connection with the transaction.