Investcorp, a global provider and manager of alternative investment products, Tuesday announced it has agreed the sale of CSIdentity (CSID) to Experian, a global information services company, for an enterprise value of $360 million. The transaction is subject to standard regulatory approvals.

Founded in 2006 and headquartered in Austin, Texas, CSID is a market leading provider of enterprise level identity theft protection technology solutions to businesses and government agencies.

The company’s solutions, provided on the basis of a recurring software-as-a-service (SaaS) business model, proactively detect credit and noncredit related identity theft, notify affected parties and help restore compromised identities.

Through its technology fund, Investcorp Technology Partners III, Investcorp initially invested in CSID in December 2009 and the fund is today the majority owner of the company. Since Investcorp partnered with CSID, the company has experienced rapid growth and has become a global leader in the identity protection market.

Yasser Bajsair, MD at Investcorp in Saudi Arabia, said: “Throughout Investcorp’s ownership of CSIdentity, we used our expertise in the technology sector to help the management team implement a number of strategic initiatives, which played a key role in the company’s growth. After a successful partnership of more than six years, we wish CSIdentity the best under new ownership.”

This transaction marks the fifth exit for Investcorp Technology Partners III, following the sale of TDX Group to Equifax Inc., the partial exit of Fishnet through a merger with Accuvant, the ultimate full sale of Skrill Group to Optimal Payments, and the flotation of Sophos Group plc on the London Stock Exchange (LSE).

Jefferies LLC is serving as exclusive financial adviser to CSID and Winstead PC is serving as its legal adviser.