Mergers and acquisitions.
Science Applications International Corporation (SAIC) is acquiring Virginia-based IT company Unisys Federal for $1.2 billion, according to Inside Defense. The Washington Post says the company hopes the Unisys acquisition, along with SAIC's recent $2.5 billion purchase of Engility, will help position the company as "a leading provider of cloud migration services for the federal government."
McLean, Virginia-based Trowbridge & Trowbridge has acquired Fredericksburg, Virginia-based cybersecurity and IT contractor IntelliWare Systems, Homeland Security Today reports. Trowbridge's CEO Cass Panciocco said in a statement that "IntelliWare adds complementary capabilities, a highly-skilled team of employees, and a new customer base that will help us further enable Federal agencies to integrate emerging technologies with complex systems, and conduct data and intelligence analysis for better informed, more efficient decision making."
Hannover, Germany-based insurance company HDI Group has purchased Berlin-based cybersecurity startup Perseus Technologies, for an undisclosed amount, Insurance Journal notes. HDI Group will use the company to provide cyber insurance policies and cybersecurity services. Perseus will keep all of its employees, along with its independent brand and existing customers.
Accenture has purchased London-based data consultancy Mudano for an undisclosed amount. Accenture's press release says that "Mudano’s data advisory expertise and technology solutions will complement Accenture’s existing capabilities and strengthen its commitment to helping clients generate measurable value and return on investment from large-scale transformation projects."
Private equity firm Advent International, based in Massachusetts, is purchasing all outstanding shares of San Jose, California-based device visibility company Forescout for $1.9 billion. The deal will make Forescout a private company. Crosspoint Capital Partners joins Advent as a co-investor and adviser in the deal. Theresia Gouw, the chair of Forescout's board, stated that "[i]n making its determination, the Board of Directors considered the likely volatility associated with the business model transition to ratable revenue recognition, changes to our go-to-market initiatives, particularly in EMEA, and timing of significant eight-figure deals, while managing to quarterly street estimates as a publicly traded company."
Private equity firm Consecutive, Inc. acquired Texas-based cybersecurity product testing company NSS Labs in October and seems to have merged it with an unnamed Consecutive subsidiary, according to SearchSecurity. Neither company announced the acquisition at the time, although they both somewhat cryptically acknowledged the deal after SearchSecurity reported on it. NSS Labs CEO Jason Brvenik told SearchSecurity that "[t]his is a simple transaction and restructure. We restructured the business to better position for changes we see coming in the cybersecurity market and ensure we have the right partners and structure to deliver on our core mission."
Investments and exits.
Santa Clara, California-based cloud security company Netskope has received $340 million in a funding round led by new investor Sequoia Capital Global Equities, with participation from new investors Canada Pension Plan Investment Board and PSP Investments. Netskope says the new investment brings the company's valuation to nearly $3 billion.
FireEye's president Travis Reese is leaving the company after fourteen years, CRN reports. FireEye has hired former Vertical Communications CEO Peter Bailey as executive vice president and chief operating officer, as well as promoting its executive vice president of worldwide sales, Bill Robbins, to chief revenue officer and general manager of products.
SearchSecurity reports that at least two McAfee executives have departed the company after former CEO Chris Young was replaced by Peter Leav in January. Allison Cerra, McAfee's senior vice president and chief marketing officer, has apparently joined Hewlett Packard Enterprise as vice president of geo-marketing. John Giamatteo, president and chief revenue officer for McAfee's corporate business group, also appears to have left the company. A McAfee spokesperson told SearchSecurity that the company doesn't comment on employee departures.
Jacobs has appointed Caesar Nieves as senior vice president of its cybersecurity unit within the company's Critical Mission Solutions business. Nieves previously worked as vice president of corporate growth and strategy at CALIBRE Systems.
Axonius has hired Bobby McLernon as vice president of Federal sales as the company begins selling its Cybersecurity Asset Management Platform to Federal agencies. The company also appointed Mark Daggett as vice president of Channels and Alliances.
Okta has added Craig Weissman as Chief Architect of its engineering team, where he'll work with fellow Chief Architects Jon Todd and Karl McGuiness, Help Net Security says. Weissman most recently worked at Duetto, which he co-founded.
PerimeterX has added Kim DeCarlis as chief marketing officer and David Brown as chief revenue officer. DeCarlis most recently served as CMO of Gigamon, while Brown previously worked as senior vice president of sales at Firemon.
Security companies in the news.
Norwegian aluminum manufacturer Norsk Hydro stated in its fourth-quarter results that it received NOK 187 million (approximately US$20.2 million) in insurance compensation for the ransomware attack it sustained in March 2019, Insurance Business notes. The total financial impact of the attack for the year is estimated to be between NOK 650 and 750 million (around US$70 to 81 million). The company added that "Further compensation will be recognized when deemed virtually certain."
Xerox is offering an additional billion dollars to acquire HP, CRN reports, bringing its total offering price to about $34.9 billion. Xerox says it will ask HP's shareholders to sell their stock in early March. CRN adds that HP won't respond to Xerox's offer until after it's reported its first-quarter results on February 24th.
Computing reports that the Coronavirus outbreak in China is beginning to impact the global tech supply chain.