Rapid7, a provider of data and analytics-based security solutions, announced Monday, July 19, 2021 the acquisition of IntSights, a developer of external threat intelligence platforms. The transaction will be completed for an amount of $ 335 million in cash and shares. With the purchase of IntSights, Rapid7 plans to combine the technologies of the two companies into a single cybersecurity offering.
Many customers from both sides
Rapid7 is a major publisher of analytical data security solutions that allow companies to improve their security actions. The company claims more than 8,900 customers.
For its part, IntSights, headquartered in New York and with offices in Amsterdam, Boston, Dallas, Singapore, Tel Aviv and Tokyo, offers technologies capable of identifying cyberattacks that may have an impact on businesses. employees or customers. Prior to its acquisition by Rapid7, IntSights had raised $ 71.3 million from Qumra Capital, Blumberg Capital and others. The start-up has many clients including Blackstone, American Eagle Outfitters, Caesars Entertainment, Gett and Wipro.
The rise in cyber attacks
Cyber attacks are on the rise, and the global cybersecurity market is expected to grow from $ 152 billion in 2018 to $ 250 billion in 2023, according to VenturBeat. “Cyber security today is an unbalanced battle and the odds of success are always in favor of the attackers”, said Corey Thomas, President and CEO of Rapid7. IntSights and Rapid7 share the belief that companies will only be successful when they have a unified view of internal and external threats “.
Together, the two companies hope to deliver a solution that ensures greater visibility of threats and enables organizations to gain insightful information and prevent or mitigate attacks. With this investment, Rapid7 expects recurring annual revenue to reach approximately $ 489 million, up 29% from the previous year. IntSights thus adds to previous Rapid7 acquisitions, such as cybersurveillance start-up Velociraptor and container security company Alcide.