Veritas Capital, the New-York-based private-equity, firm has agreed to buy BeyondTrust Software Inc., a provider of privileged account management and vulnerability management solutions, a statement by the security vendor said.

Bloomberg reported that Veritas, which has been an investor in BeyondTrust since 2006, would pay $310 million.

A Phoenix-based company, BeyondTrust said it has experienced revenue CAGR of over 20 percent and serves more than 4,000 organizations globally across industries.

BeyondTrust’s website states that customers include eight of the world’s 10 largest banks, eight of the10 largest aerospace and defense firms, seven of the 10 largest US pharmaceutical companies, and all five branches of the US military.

According the deal, Veritas will acquire the company from private equity and venture capital firm, Insight Venture partners.

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