Tag: Acquisition

11:11 Systems completely acquires Iland

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A company that manages infrastructure solutions, 11:11 Systems, has acquired a cloud service provider in Texas, Ireland.

The finalization of the procurement was announced on Thursday. The terms of the agreement were not disclosed.

Headquartered in Houston with regional offices in London and Sydney, Ireland delivers cloud services including Disaster-Recovery-as-a-Service (DRaaS), Infrastructure-as-a-Service (IaaS), and Backup-as-a-Service (BaaS) from its cloudy regions throughout North America, Europe, Australia, and Asia.

11:11 Systems said it aims to expand the award-winning Irish Secure Cloud Console, which integrates in-depth security with detailed layers, predictable analytics, and compliance to bring about easy visibility and management of Irish cloud services.

The agreement follows the recent acquisition of 11:11 Systems by Green Cloud Defense, the only channel provider, for cloud Infrastructure-as-a-Service (IaaS).

“By increasing Iland’s 25% YOY momentum at 11:11 Systems’ expanding the national network of MSPs, VARs and IT coordinators, a mechanism has been developed to boost growth,” the 11:11 Systems statement said…

Brett Diamond, CEO of 11:11 Systems, said his company’s recent acquisition was inspired by making internet security more accessible to its customers.

“CIOs and IT leaders are being pushed to address increasing numbers of security threats, application vulnerabilities, and network weaknesses that can leave organizations exposed to data breaches; at the same time, they are tasked with laying the right foundation within their infrastructure to embrace hybrid cloud, navigate sophisticated application requirements, artificial intelligence and more while data and devices continue to multiply exponentially,” said Diamond.

SilverSky Acquired Cygilant, Expanding its UK Presence and Adding Renowned Data Research Talent

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SilverSky, a cybersecurity service provider that offers professional managed detection and response (MDR) services, announced that it has completed the acquisition process of Cygilant, based in Burlington, Massachusetts.

ITOCHU International, Inc., the North American flagship company of Tokyo-based ITOCHU Corporation, made a strategic investment of $31.5 million in SilverSky in October 2021, according to SilverSky. In August 2021, SilverSky announced the completion of its acquisition process of New Jersey-based Advanced Computer Solutions Group, LLC (ACSG), which provided the firm a major client base in the US education sector and was the first in a series of planned acquisitions.

Cygilant, a major cybersecurity-as-a-service company, has a security operation centre (SOC) in Belfast, Northern Ireland, and employs some of the world’s top Ph.D.-level cybersecurity, advanced networks, and data science expertise. The acquisition of Cygilant’s UK-based delivery centre expands SilverSky’s access to European marketplaces while complementing the company’s current footprint in Asia and North America.

“Alongside our recent growth-related announcements, this acquisition of Cygilant, a cybersecurity-as-a-service and threat-intelligence powerhouse, helps to further galvanize our efforts to globally expand the SilverSky presence as well as retain and nurture some of the industry’s best cybersecurity and data science talent. Cygilant shares our commitment to rich-service offerings that are unmatched in the industry. We’re pleased to welcome the Cygilant team and their customers,” said Richard Dobrow, CEO at SilverSky.

“We are excited to join SilverSky. This represents a significant next-chapter of the Cygilant journey, as our innovative SOC capabilities and deep bench of cybersecurity expertise are combined with one of the industry’s most comprehensive MDR offerings. The outcome for our customers will be access to the collective set of broader managed services that will continue to enrich their cyber protections and strengthen their security posture,” said Rob Scott, CEO and President at Cygilant who will be joining SilverSky as its Chief Strategy Officer.

Claroty Completed The Acquisition Of Medigate, A Leader In Healthcare IoT Security

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Claroty, a cyber-physical systems (CPS) security firm for industrial, healthcare, and enterprise sectors, announced that it has finished the acquisition of Medigate, a leading healthcare IoT security firm. Claroty is now in a unique position to secure the Extended Internet of Things (XIoT) by providing unrivalled visibility, protection, and threat detection for all linked enterprises through a single solution.

“Highly interconnected CPS have become pervasive in industrial and healthcare environments in recent years in order to drive innovation, resilience, sustainability, and better health outcomes. However, greater connectivity begets greater exposure to risks, with serious consequences for patient safety, public safety, and the environment. Together, Claroty and Medigate will combine our deep domain expertise and specialized technologies into a comprehensive platform that will extend across all types of CPS and connected devices to secure the XIoT. We envision a future where cyber and physical worlds safely connect to support our lives, and with Medigate’s talented team and powerful capabilities, we have what it takes to make this vision a reality,” said Yaniv Vardi, CEO of Claroty.

Across 2021, ransomware attacks targeting CPS in all industries hit new highs, with 82 percent of healthcare systems reporting IoT cyber intrusions in the last 18 months. As a result, a slew of new security legislation have emerged, pushing corporations to take action.

“By joining forces between Medigate and Claroty, we are forming the only cybersecurity company that can deliver a best-of-breed solution for all the critical assets across healthcare, industrial, and enterprise environments that comprise the XIoT. Our combined talent, technology, and IP empowers us to truly change the way organizations identify, secure, and manage these connected assets on a massive scale, thereby delivering even greater value for our customers,” said Jonathan Langer, co-founder and CEO of Medigate.

Claroty’s $400 million Series E round, announced in December 2021, was used to fund the transaction. SoftBank Vision Fund 2, Bessemer Venture Partners, Schneider Electric, Rockwell Automation, Standard Investments, Team8, and ISTARI were among the investors in the round (a global cybersecurity platform established by Temasek). 

Schwarz Group Acquired Hybrid Cloud Cybersecurity Company XM Cyber

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Schwarz Group acquired stake in XM Cyber. The Schwarz Group is world’s fourth-largest retailer and a growing player in cloud computing. The firm is preparing for future IT security issues with this acquisition. This gives a plethora of chances for XM Cyber to continue to expand and innovate at a faster pace.

XM Cyber will continue to run independently, providing its full suite of products under its existing brand and support structure, and will remain committed to providing great service to its global clientele.

With the rise of digitization, protecting emerging ecosystems has never been more important. Cyber-attacks, such as the entry of ransomware into a company’s IT infrastructure, can be devastating. XM Cyber offers a new technique to proactively preventing cyber-attacks by looking at things from the attacker’s point of view. It assists enterprises in cost-effectively closing security gaps before systems are compromised by detecting important attack pathways across on-premises and multi-cloud networks. The Schwarz Group’s deep understanding of protecting complicated hybrid cloud networks is also an important part of this strategic acquisition.

“XM Cyber brings deep technical understanding and innovation that perfectly complements our portfolio for advanced cybersecurity services. Finding and closing security gaps from an attacker’s perspective is a disruptive approach to the way organizations can proactively protect their networks. XM Cyber’s solution builds on our strong IT security to further protect our customers, partners, and ourselves as a company. “The cooperation with XM Cyber additionally complements the security components of the digital business models of the Schwarz Group. “We permanently extend our range of digital products for our customers, like for example our online shops, our marketplace, or our loyalty programs,” says Rolf Schumann, Chief Digital Officer at Schwarz Group. “With the solutions of XM Cyber, we offer our customers even more services and evolve the shopping and customer experience in a more holistic way,” says Christian Müller, Chief Information Officer of Schwarz Group.

For XM Cyber, this strategic partnership offers immense potential to further expand and develop its business model. “We are thrilled to become part of the Schwarz Group. With the backing and international footprint of the largest European retailer, we can accelerate innovation and growth and further strengthen our position in the global cybersecurity market. I would like to take this opportunity to thank our investors who have supported us along the journey, including Swarth Group, Macquarie Capital, Nasdaq Ventures, and Jerry Schwartz, amongst others. A special thanks to Shaul Shani, our co-founder, who was the first to believe in our vision and ability to execute and invested the initial seed funding which allowed us to build this unique company,” says Noam Erez, XM Cyber co-founder, and CEO.

Immersive Labs Acquires Snap Labs To Improve Cyber Simulations With New Depth And Realism

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Immersive Labs, the firm empowering enterprises to constantly monitor and optimise their whole workforce’s cyber capabilities, announced the acquisition of Snap Labs. The deal gives enterprises seeking to enhance their cyber knowledge, skills, and decisions, allowing them to create multi-player simulations tailored to certain situations and roles.

The acquisition emphasizes the importance of developing human capabilities that represent the unique characteristics of each firm, from executive to technical teams. Cyber risk is effectively mitigated by gaining cyber knowledge, skills, and judgement customized to individual elements such as technical environments and regulatory requirements.

Clients will be able to run labs and cyber crisis practices in a cloud-based replica of their own business with specific vendors using the newly integrated platform. This also gives technical teams the chance to collaborate in a large virtual environment as part of larger exercises including executive decision-makers.

When combined with the rest of the Immersive Labs platform, enterprises will be able to build a continuous cycle of human cyber capacity improvement. The cyber knowledge, skills, and judgement of the entire staff can keep pace with risk, empowering them to be employed strategically for the first time, with frequent exercising and evidencing against internal and anonymised peer benchmark data.

“From day one we have believed in the power of immersive experiences. Whether you are a CEO wrestling with the wicked problems of a cyber crisis exercise or a malware analyst decompiling the latest APT, nothing is better for building and evidencing cyber knowledge, skills and judgement,” said James Hadley, CEO of Immersive Labs.   

“The acquisition of Snap Labs doubles down on this, allowing customers to build better cyber workforces with richly detailed realistic experiences pinpointed to the risk they face. We welcome the team to Immersive Labs and look forward to building on our joint vision together.”  

Chris Myers, Co-Founder, said, “Snap Labs has always strived to provide the most realistic environments and training experiences for cybersecurity teams. Immersive Labs’ vision to build cyber knowledge, skills, and judgement across the entire workforce is remarkably aligned with our own, and we’re extremely excited to bring our technology into their platform. The two platforms are a natural fit, and by combining them we hope to help our customers build even more resilience against cyber threats.” 

Valeo Networks Acquires On Time Tech

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Valeo Networks, a leading Managed Security Service Service Provider (MSSP), announced the acquisition of another MSSP company On Time Tech, based in California (MSP). The financial details of the acquisition are kept private.

Valeo Networks has added two more California sites as a result of its current acquisition of another highly recognised MSP. This acquisition furthers Valeo Networks’ mission of developing a national network of IT and cybersecurity specialists to holistically support and secure its client base.

Valeo Networks’ fifth acquisition will continue to function under the name DBA On Time Tech (A Valeo Networks Company).  On Time Tech focuses on providing IT solutions for customers in financial services, healthcare, architectural, and non-profit businesses.

“As we continue to advance our nationwide growth strategy, working with outstanding companies like On Time Tech will help us achieve that goal. This acquisition further strengthens our well-established California presence, and expands our resources in the areas of cybersecurity, managed services, cloud solutions, and compliance. With their customer-centric approach, the On Time Tech team is an excellent fit within our organization,” said Travis Mack, CEO, Valeo Networks.

Lance Stone, President, On Time Tech said, “I am excited for On Time Tech to join forces with Valeo Networks and be part of something bigger. With a nationwide presence, focus on cybersecurity, and breadth of resources to pull from, we will be able to better serve our clients and give our staff additional opportunities for growth. While getting to know Valeo’s leadership team, I found that they are also passionate about providing top-tier services for clients and especially appreciate that the company culture and vision is a solid match to ours. I look forward to the next chapter of our journey!”

CrowdStrike Acquires SecureCircle to Extend Zero Trust Data Protection

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CrowdStrike Holdings, a leading company in cloud-delivered endpoint and workload protection, announced the acquisition of SecureCircle, a SaaS-based cybersecurity service that extends Zero Trust security to endpoint data. CrowdStrike will strengthen its leading Zero Trust endpoint security device and identity capabilities to incorporate data with this takeover. The all-cash deal is expected to complete in the fourth quarter of CrowdStrike’s fiscal year.

By securing the hub of enterprise risk — the endpoint – CrowdStrike has transformed security for the cloud era. CrowdStrike will enhance data protection with SecureCircle’s technology, allowing customers to implement Zero Trust at the device, identity, and data levels. CrowdStrike intends to resolve complex problem that all organisations face, data protection, with a simple solution – enforcing Zero Trust control at multiple levels, all deployed through CrowdStrike’s lightweight Falcon agent on the endpoint – by combining forces and leveraging SecureCircle’s innovative capabilities.

Zero Trust Data Protection Reimagined

In 2021, the market for data loss prevention (DLP) and related technologies is expected to reach $3 billion. Even billions of dollars are invested in legacy DLP technologies, data breaches via inadvertent leaks, ransomware, sophisticated cyberattacks, and other sources continue to occur at an astonishing speed. Clients demand a solution to protect data without compromising the user experience, as DLP has failed. CrowdStrike promises to rethink data security using SecureCircle’s technology, enforcing encryption on data in all three states (in transit, at rest, and in use), allowing clients to secure data on, from, and to endpoints. Clients will be able to govern data access and usage regulations for each user based on their Zero Trust score when integrated with CrowdStrike Zero Trust Assessment, providing dynamic risk mitigation.

“Data loss prevention has suffered from a lack of innovation and legacy tools have completely failed to live up to the promise of preventing breaches. At the same time, the endpoint has become the focal point for how data is accessed, used, shared and stored,” said George Kurtz, co-founder and chief executive officer of CrowdStrike. “CrowdStrike will be setting a new standard for endpoint-based data protection by connecting Zero Trust enforcement to the device, the user identity and, with this acquisition, the data users are accessing and using.”

Jeff Capone, chief executive officer at SecureCircle said, “We are excited to join the CrowdStrike family, and integrate SecureCircle’s revolutionary data protection solutions with the industry leader in cloud-delivered endpoint protection. The endpoint in today’s enterprise is everything, and coupling our cloud-native approach to protecting sensitive data with CrowdStrike’s industry leading Zero Trust endpoint security will enable customers to enforce Zero Trust on the endpoint across all levels.”

Entreda Acquires Privva, an Innovative Provider of Cloud-Based Supply Chain Risk Management Software

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Entreda, the leading cyber security company offering cyber security training to the independent financial advice industry and a wholly owned subsidiary of Smarsh announced the acquisition of Privva. The Cloud-based Platform of Privva enables organisations to carry cyber risk evaluations in order to manage third party vendors and internal risks.

The acquisition strengthens Entreda’s relationship with Privva as strategic partners. The products and services of Entreda help mitigate the risk of breaches of IT systems and networks. In the meantime, Privva’s provides help to companies to assess their vendors and suppliers’ cyber security preparation. Entreda and Privva will create a more streamlined and integrated offering that allows customers to do business with greater trust.

Privva’s game-changing technology enables regulated organizations, including wealth management firms, to identify and mitigate vulnerabilities in the cybersecurity posture of their third-party vendors and suppliers and do so in a streamlined, automated way. Firms can never be too sure about the cyber hygiene of partners, no matter how familiar they believe they are. They owe it to themselves and their clients to offer a greater level of security, and Privva’s solution offers just that,” said Sid Yenamandra, CEO and founder of Entreda.

Going forward, Privva will do business under the Entreda brand, and Founder and CEO Ishan Girdhar will continue to lead the Privva organization, reporting to Mr. Yenamandra.

“It’s a great honor and pleasure to join Entreda, a Smarsh company and cybersecurity leader in the wealth management space, whose track record of protecting client firms’ sensitive data speaks for itself. Privva and Entreda have worked together for nearly two years implementing Privva’s solution into some of the largest wealth management firms’ platforms. The opportunity to fully integrate with Sid and his team was ideal, as the combined entity will enable both of us to serve firms even more effectively,” said Mr. Girdhar.

“The closer integration of the Entreda and Privva platforms will enhance Advisor Group’s ability to perform cyber risk assessments of thousands of advisors and branch offices in our network and protect them – along with their clients,” said Jon DeLaCastro, VP of Security Assurance, Governance, Risk & Compliance, for Advisor Group.

Sid Yenamandra said, “With the advent of remote work and cloud apps, wealth firms and advisors are relying on tools from third-party vendors more than ever before. Combined with and integrated into our Unify platform, Privva’s proprietary risk scoring methodology will ensure that our client firms can do business with their suppliers, knowing that their data is well protected.”

Entreda is the leading provider of cybersecurity in the field of wealth management with over 300 companies. Entreda will expand its presence beyond its conventional markets by adding Privva’s customers to financial services, law, technology and healthcare services.

LogPoint completes acquisition of SecBI and added native SOAR to its core SIEM offering

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LogPoint, a worldwide leader in cybersecurity, announced that the acquisition process of Tel Aviv-based SecBI is completed. LogPoint’s native integration with SecBI’s SOAR and XDR universal SOAR and XDR technology will create a foundational Security Operations platform. In December, SOAR and LogPoint 7.0 will be available together as a bundle.

“With the tidal wave of cyberattacks threatening businesses and societies across the globe, a disruption of the way organizations respond to cybersecurity incidents is required,” said Jesper Zerlang, CEO LogPoint. “Building on LogPoint SIEM and UEBA to effectively detect threats, orchestration and automation of the response to incidents is key to advancing cybersecurity. Consequently, SOAR will be a capability included in LogPoint to advance foundational cybersecurity.”

In addition, all current and future LogPoint clients will be able to use SOAR in their security operations with the release of LogPoint 7.0, automating repetitive tasks and orchestrating threat remediation workflows, as well as facilitating autonomous investigation, prioritisation and execution of playbooks to minimize human involvement and speed up response time. Clients will be able to use SOAR as part of their LogPoint Core SIEM license.

“LogPoint SOAR has been in production with select customers over the past few months and we’re thrilled with the overwhelmingly positive feedback that analysts have more confidence that incidents are dealt with appropriately thanks to the automatic playbooks. Our customers have reported a significant decrease in the time it takes to detect and respond to a phishing email – down from three hours with manual processes to 10 minutes with automated LogPoint SOAR playbooks,” said Christian Have, CTO, LogPoint.

“SOAR is not only about coping with the increasing number of cybersecurity incidents. By including SOAR in the LogPoint SIEM solution, we will enable organizations of all sizes, especially companies that do not have a fully-staffed 24/7 Security Operations Center (SOC), to establish proper and relevant incident-handling processes and dramatically increase quality and speed in their response capabilities. It also helps those organizations assess the efficiency of new cybersecurity tools and measures,” said Have.

“Already a strong SIEM player in Europe, LogPoint’s new SOAR and XDR offerings, combined with its own notable TDIR advancements, position the vendor to compete globally for a growing share of enterprise customers.”

PwC Acquired Avaleris Cybsecurity Consulting Company

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PwC Canada has acquired Avaleris Inc., Canada-based boutique cybsecurity consulting company.  Avaleris, a security, identity, and access management company, was founded in 2006 and specializes in the Microsoft cloud. The company’s services include identity and cybersecurity strategy, IT security policies and procedures, solution design and deployment, security training, and managed services.

With the acquisition of Avaleris by PwC, the firm’s cybersecurity division, which employs about 300 people nationwide, will be strengthened. Rapid digitalization and cloud migrations have expanded cyberthreat surfaces, driving up demand for cybersecurity services.

“PwC is thrilled to welcome the Avaleris team to PwC. Their work has proven to build a strong reputation with clients, as well as a longstanding strategic partnership with Microsoft,” said Saj Nair, partner & national technology & cloud leader, PwC Canada.

This year, the worldwide PwC network announced its “New Equation” strategy, aiming to invest $12 billion over the next five years and to add 100,000 people to its current 284,000 employees to the “New Equation” workforce. ESG and digital capabilities – such as cloud, AI, virtual reality, and other new technologies – are key areas of focus for the organization.

“Our team of talented and innovative cybersecurity professionals are thrilled to join the PwC team and take on new challenges and opportunities for growth. Given the strong alignment of our culture and values, PwC clients will continue to benefit from the innovations and unparalleled capabilities they have come to expect,” said Ron MacDonell, president and CEO, Avaleris Inc.