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Secureworks Acquiring Delve Vulnerability Management Security Platform

Secureworks ($SCWX) is acquiring vulnerability management platform provider Delve, the software-driven MSSP disclosed today. Financial terms of the deal were not disclosed.

This is M&A deal 361 that MSSP Alert and ChannelE2E have covered so far in 2020. See the full M&A deal list here.

Delve, founded in 2014 by former penetration testers, has a multi-tenant platform that MSSPs can leverage. The platform allows MSSPs to discover assets, scan for machine vulnerabilities, test Web application security, priorities vulnerability fixes based on threat risks, and develop a risk-based remediation plan, according to Delve documentation. It’s unclear how many MSSPs actually leverage the platform.

It sounds like Delve’s technology will align with Secureworks Red Cloak platform for threat detection and response (TDR) services. The Delve solution will be available for sale as part of Secureworks’ portfolio this quarter, the buyer said.

Secureworks Acquires Delve: Executive Perspectives

Gabriel Tremblay, CEO, Delve Labs

Secureworks CEO Michael Cote

In a prepared statement about the deal, Secureworks CEO Michael R. Cote said:

“Against the backdrop of today’s digital landscape, our customers demand sophisticated, scalable solutions that respond to threats putting their business and workforce at risk. The acquisition of Delve will enrich Secureworks’ intelligence, further differentiate our end-to-end capabilities, and accelerate our transformation to deliver software with security at its core.”

Added Gabriel Tremblay, CEO of Delve:

“We were the first to deliver a context-based, AI-driven vulnerability scanning and prioritization solution, and we believe this pioneering spirit is the ideal complement to Secureworks’ proven approach to helping customers grow their business securely. Together, we will expand customers’ access to the solutions and applications they need to make decisions that effectively defend their organizations against the most threatening adversaries.”

The acquisition is expected to be completed in Secureworks’ 2021 fiscal third quarter and is subject to customary closing conditions, the buyer said.

Secureworks: MSSP Business Evolution

Secureworks, a Top 200 MSSP, has spent recent quarters transforming from a traditional MSSP into a software-driven MSSP that leverages more and more of its own intellectual property. The company, owned by Dell Technologies, also partners closely with sister company VMware Carbon Black.

Secureworks’ revenue was $138.47 million in its latest quarter, up 1.4 percent from the corresponding quarter last year. Secureworks’ valuation was $964 million as of September 9, 2020, according to Yahoo Finance.

Rumors about Dell potentially seeking to sell Secureworks have popped up from time to time, though such chatter has quieted down in recent months.

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