At a glance.
- Cohesity to acquire Vertias's data protection business.
- Bugcrowd raises $102 million.
- Seal Security emerges from stealth with $7.4 million.
Mergers and acquisitions.
Data security and management company Cohesity has agreed to acquire the data protection business unit of enterprise data management firm Veritas. The value of the combined company will be approximately $7 billion. Both companies are headquartered in Silicon Valley. The companies said in a press release, "Customers will benefit from the accelerated innovations unlocked by the joint company’s scaled R&D investment, its unwavering support for customer success, and one of the industry’s most extensive partner ecosystems. Sanjay Poonen will lead the combined organization as CEO and President. Greg Hughes, CEO of Veritas, will serve as a Board member and strategic advisor to Sanjay Poonen after the close of the transaction."
Baltimore-based cybersecurity firm ZeroFox has agreed to be acquired and taken private by private equity firm Haveli Investments for approximately $350 million. ZeroFox's founder, chairman, and CEO James C. Foster stated, "With Haveli Investments, ZeroFox has identified a strong partner with the right combination of high growth software experience, strategic and operational resources, and a shared passion and commitment to external cybersecurity. We believe that this transaction represents a compelling outcome for ZeroFox stockholders, particularly given the volatility in the market, and best positions ZeroFox for our next phase of growth."
Investments and exits.
Crowdsourced cybersecurity platform provider Bugcrowd has raised $102 million in a strategic growth financing round led by General Catalyst, with participation Rally Ventures and Costanoa Ventures. Bugcrowd CEO Dave Gerry said in a blog post, "The infusion of new funds will drive continued innovation on the Bugcrowd Platform and accelerate our growth across EMEA, APAC, and the U.S., both organically and through strategic M&A opportunities."
Israeli open-source vulnerability remediation company Seal Security has emerged from stealth with $7.4 million in a seed funding round led by Vertex Ventures Israel, with participation from Crew Capital, PayPal Alumni Fund, and Cyber Club London, TechCrunch reports.
Executive moves.
DigiCert has appointed Jugnu Bhatia as Chief Financial Officer and Dave Packer as Chief Revenue Officer.
Utimaco has hired Tina Stewart as Chief Marketing Officer.
Kaspersky has named Toufic Derbass as its new Managing Director for the Middle East, Turkey, and Africa (META) region.
CyberArk has hired Alana Sahakian as its partner manager for Australia and New Zealand, ARN reports.
Halcyon has added Nicholas Warner to its board of directors.