At a glance.
- McAfee Enterprise and FireEye Products to merge.
- FireEye rebrands as Mandiant.
- Akamai will acquire Guardicore.
Mergers and acquisitions.
McAfee Enterprise and FireEye Products will merge to create a single entity after the completion of Symphony Technology Group's (STG's) acquisition of FireEye's product business. CRN reports. The new company will have nearly $2 billion in annual revenue. CRN notes that "The combined company will be led by former Blackberry President and Cisco SVP Bryan Palma." STG stated, "The combination of McAfee Enterprise and FireEye Products will immediately create a pure play, cybersecurity market leader with more than 40,000 customers, 5,000 employees, and nearly $2B of revenue. The new company’s integrated security portfolio protects customers across endpoints, infrastructure, applications, and in the cloud. STG anticipates combining the two companies during the fourth quarter of 2021."
FireEye has officially rebranded as "Mandiant," and its new Nasdaq ticker symbol is "MNDT." The company stated, "The decision to change the corporate name and stock ticker symbol reflects the company’s strategy to focus on Mandiant’s security controls-agnostic solutions delivered through the Mandiant Advantage cloud-based platform. Pursuant to this strategy, on June 2, 2021 the company announced it had entered into a definitive agreement to sell the FireEye Products business, including the FireEye name, to a consortium led by Symphony Technology Group (STG)."
Massachusetts-based content delivery network and security company Akamai has agreed to acquire Israeli network segmentation company Guardicore for approximately $600 million. Akamai's CEO and co-founder Tom Leighton stated, "By adding Guardicore’s leading micro-segmentation products to Akamai’s comprehensive portfolio of Zero Trust solutions, we believe Akamai will be able to provide the most effective way to combat ransomware on the market today."
Tel Aviv-based programmable cybersecurity platform provider HUB Security has acquired Israeli security firm Comsec Global for NIS 70 million (US$21.6 million). HUB stated, "The main goal of the acquisition is to dramatically increase HUB Security's global sales and distribution infrastructure by over 40 countries, which will enable the Company to more than double its revenues and significantly accelerate penetration of HUB's unique cyber-security solutions in global enterprises."
Aliso Viejo, California-based identity and access management company One Identity has acquired San Francisco-based OneLogin. Brad Brooks, CEO of OneLogin, stated, "Joining One Identity provides us with the ability to further accelerate our growth and provide additional value for both of our customers. With OneLogin’s robust unified platform for both workforce and CIAM, combining forces with One Identity’s suite of products including their PAM solution, will allow new and existing customers, on a global scale, to tap into the market’s only unified identity security platform."
San Francisco-based cyber insurance provider Coalition has acquired New York-based Attune Insurance. The company stated, "The acquisition of Attune creates the world’s largest commercial insurtech and positions the combined entity to capture a $100 billion+ market opportunity in the P&C insurance market."
Minnesota-based security operations company Arctic Wolf has acquired Torrance, California-headquartered security awareness training company Habitu8. Nick Schneider, Arctic Wolf's president and CEO, stated, "With the addition of Habitu8 to the Arctic Wolf Platform, we will deliver modern, high-quality security awareness and training programs as a managed service, which combined with our expert concierge guidance will significantly strengthen customers’ overall security operations."
New York-headquartered managed detection and response firm BlueVoyant has acquired Florida-based big data solutions consultancy Concanon. The company stated, "Concanon will coordinate services through BlueVoyant's Modern SOC for Splunk® Cloud Platform, featuring 24/7 managed detection and response (MDR), and powered by BlueVoyant's 24/7 cloud-based managed security operations center (SOC). The acquisition will enable Concanon to expand their services to Splunk customers to optimize their investment and accelerate migration to the Splunk Cloud Platform by leveraging BlueVoyant's technology and expertise. Customers will benefit from a turnkey offering that delivers security at scale and customized for them which can be monitored 24/7 by BlueVoyant's fully remote Security Operations Center-as-a-Service (SOCaaS). Supporting this acquisition, BlueVoyant will receive $30 million in incremental funding from existing investors, helping to stimulate further growth in its global portfolio of managed Splunk security capabilities."
Maryland-based government IT security contractor MasterPeace Solutions has acquired Virginia-headquartered Full Suite Solutions (FSS), a company that provides "software and services to Northern Virginia intelligence community clients." The company stated, "MasterPeace’s expansion into Northern Virginia will address critical workforce skills gap with an innovative platform that focuses on providing engineers unmatched opportunities to develop their skills and remain on the cutting edge of the technology curve."
Investments and exits.
Israeli cloud security firm Orca Security has extended its Series C round to $550 million. The new funding was led by Temasek. The company says the Series C round "boosted its valuation 50 percent in just seven months to $1.8 Billion."
New York-based Alloy, a company that provides an identity decisioning platform for banks and financial companies, has raised $100 million in a Series C round led by Lightspeed Venture Partners' Justin Overdorff, participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures, and Felicis Ventures. The company says the funding "will be used primarily to further expand Alloy's product offerings to help fintech companies and banks combat fraud by building out a continuously evolving identity profile throughout a customer's lifecycle."
Israeli SaaS Security Posture Management company Adaptive Shield has raised $30 million in a Series A round led by Insight Partners, with participation from Okta Ventures and existing investor Vertex Ventures Israel.
New Jersey-based privacy-preserving data collaboration solution provider Duality Technologies has raised $30 million in a Series B round led by LG Technology Ventures, with participation from Euclidean Capital, the National Bank of Canada's corporate venture capital arm NAventures, and existing investors Intel Capital, Hearst Ventures, and Team8. The company says it "will use the funds to expand its go-to-market operations, advance its partnerships with leading technology vendors, and further cement its product and technology leadership in the fields of privacy-preserving machine learning and Privacy Enhancing Technologies (PETs)."
Massachusetts-based third-party identity risk solutions provider SecZetta has raised $20.5 million in a Series B led by SYN Ventures and MassMutual Ventures, with participation from existing investors ClearSky and Rally Ventures. The company says the "funding will be used to further SecZetta’s mission to strengthen organizations’ third-party identity risk initiatives, broadly expanding the platform’s capabilities and supporting the company’s growth in new and existing markets."
Philadelphia-based behavioral analytics company ForMotiv has raised $6 million in a Seed+ funding round led by Vestigo Ventures, with participation from Plug & Play Ventures, Dreamit Ventures, and others. The company says the funding "will be utilized to hire senior roles across tech, product, and sales in anticipation of ForMotiv's projected 700 percent growth by end of year."
North Carolina-based confidential computing company Profian has raised $5 million in a seed funding round led by Project A Ventures and Illuminate Financial, with participation from angel investors. The company says the funding "will enable Profian to develop a suite of open source products and services around Confidential Computing, a set of hardware and software technologies improving application security."
Ivanti has appointed Jeff Abbott as its new CEO. Abbott previously served as the company's President. The company's former CEO, Jim Schaper, stated, "This transition was always part of our plan when we both came to Ivanti, and I am confident in Jeff’s ability to continue to deliver on the course we have set as an organization to make the Everywhere Workplace possible and secure."
Goodwin has added Omer Tene and Lore Leitner to its Data, Privacy & Cybersecurity practice as partners.