Software firm HelpSystems continues on its cybersecurity buying spree, announcing on Wednesday that it has agreed to acquire Alert Logic, a provider of managed detection and response (MDR) services.
Terms of the agreement were not disclosed
The company’s MDR solution augments customers’ existing cybersecurity resources to protect on-premise, cloud, SaaS, and hybrid environments, and meet regulatory requirements, including PCI DSS, HIPAA HITECH, GDPR, Sarbanes-Oxley (SOX), SOC 2, NIST 800-171 and 800-53, ISO 27001, COBIT, and more.
Houston, Texas-based Alert Logic, which claims more than 4,000 customers around the world, will “become a cornerstone” of HelpSystems’ cybersecurity portfolio, the companies say.
“The speed of change in the cybersecurity environment requires HelpSystems to stay abreast of rapidly evolving macro trends and the tools and services our customers need to succeed,” said Kate Bolseth, CEO, HelpSystems. “The lack of skilled cybersecurity professionals means enterprises everywhere are increasingly looking to outsource this function to a reliable partner. Alert Logic is a respected leader in this capacity, and we’re so pleased to welcome this team of experts to the HelpSystems family.”
Founded in 2002, Alert Logic was previously acquired by private equity firm Welsh, Carson, Anderson & Stowe in 2013.
Minneapolis, Minnesota-based HelpSystems has acquired several security companies in the past year, including the $350 million acquisition of Tripwire announced late last month. Other acquisitions by the company include data loss prevention specialists Digital Guardian, data protection firm Vera, content protection firm Clearswift, threat intelligence company PhishLabs, email security company Agari, vulnerability assessment and compliance solutions firm Beyond Security, and vulnerability management company Digital Defense.
The cybersecurity industry has seen record activity in terms of funding and merger and acquisitions (M&A) recently. According to a study conducted by SecurityWeek, more than 430 cybersecurity-related mergers and acquisitions were announced in 2021.
On Tuesday, Google said it would shell out $5.4 billion to acquire threat intelligence and incident response powerhouse Mandiant.