Accuvant Acquires Ciphent
Combined Company to Offer Industry's Most Robust Portfolio of Information Security Solutions for Enterprise Accounts, Federal Organizations and Mid-Market Companies
DENVER - September 20, 2010 - Accuvant, the only research-driven information security partner delivering alignment, clarity and confidence to enterprise clients, announced today that it has acquired Ciphent, a provider of world-class cyber security solutions headquartered near Baltimore, Maryland. The terms of the transaction are undisclosed.
With the acquisition, Accuvant gains several strategic, complementary service offerings that significantly enhance its ability to meet the information security needs of its enterprise customers while increasing exposure to federal clients and mid-market accounts. Added to Accuvant's three current practice areas of information security research and assessment, risk and compliance management, and technology solutions, are Ciphent's offerings in secure software development, managed services, training and support. The addition of Ciphent expands Accuvant's presence to the mid-Atlantic United States, as well as to Europe and the Asia Pacific region. The combined company employs more than 300 personnel worldwide and is on target to exceed $250 million in revenue for 2010.
"We are delighted about this acquisition because of the wide range of innovative solutions Ciphent brings to the table," said Scott Walker, co-founder and vice president of strategic planning for Accuvant. "Since our inception we've been on the lookout for acquisition opportunities. Ciphent is the first that really excited us because no other company has been as good a fit both strategically and culturally. Our clients and partners will benefit from the combined Accuvant and Ciphent teams' expanded offerings and steadfast focus on information security. This transaction results in the largest security organization of its kind, a team of passionate experts who are committed to providing solutions tailored to their clients' security needs."
Both Accuvant and Ciphent were named among the fastest growing companies in the United States by Inc. magazine, with Ciphent ranking No. 16 on the 2010 Inc. 500/5000 list. The combined company's client roster comprises 60 of the Fortune 100, more than 20 federal agencies and hundreds of growing businesses in the mid-market.
"Independently, Accuvant and Ciphent have been two of the fastest growing cyber security companies for years. Effective today, we will offer the industry's most robust portfolio of cyber security solutions for both government and commercial clients while retaining our mission to protect the United States, her allies, corporations, and citizens," said James C. Foster, chief executive officer for Ciphent. "We are thrilled to become a part of the Accuvant family and believe the combined company will continue to challenge and reward our employees, enable our partners, benefit our clients, and further distance us from the competition."
In addition to Foster, Andrew Eye, chief operating officer for Ciphent, will join Accuvant's executive team. Initially, Ciphent will operate as an Accuvant wholly owned subsidiary.
Accuvant is the only research-driven information security partner delivering alignment between IT security and business objectives, clarity to complex security challenges and confidence in enterprise security decisions.
Accuvant delivers these solutions through three practice areas: Risk and Compliance Management, Accuvant LABS and Technology Solutions. Based on our clients' unique requirements, Accuvant assesses, architects and implements the policies, procedures and technologies that most efficiently and effectively protect valuable data assets.
Since 2002, more than 3,900 organizations, including 60 of the Fortune 100, have trusted Accuvant with their data security challenges. Headquartered in Denver, Accuvant has offices in 35 cities across the United States as well as in Europe and Asia. For more information, please visit http://www.accuvant.com/, follow us on Twitter: @accuvant, or keep in touch via Facebook: http://tiny.cc/facebook553.