MSSP VirtualArmour has announced a partnership with investment banking firm Capstone Headwaters. VirtualArmour made the move in response to "unsolicited inquiries," according to a prepared statement.VirtualArmour is expected to explore its strategic and financial options, Capstone Managing Director Tom McConnell said. It also will examine ways to maximize shareholder interests in the event of a sale.Furthermore, VirtualArmour looks poised to capitalize on a global information security market that is projected to grow.Global information security spending is expected to surpass $124 billion this year, technology research firm Gartner indicated. Meanwhile, VirtualArmour provides managed security services to help healthcare, financial and retail organizations address information security issues – something that could help the MSSP accelerate its growth.VirtualArmour also offers the CloudCastr client portal and prevention platform, which provides organizations with real-time reporting on threat levels, breach prevention and overall network security.
Is VirtualArmour a Viable Investment?
Interest in VirtualArmour may be significant following the MSSP's financial performance in 2018.Some of VirtualArmour's 2018 financial results included:- Total revenue of $15.6 million, up 48.9 percent year over year.
- Managed and professional services revenue of $5 million, up 79.4 percent year over year.
- Hardware and software sales revenue of $10.6 million, up 37.8 percent year over year.
- Annual recurring revenue (ARR) of $4.1 million, up 41 percent year over year.
- Total contract value (TCV) of $9.6 million, up 73 percent year over year.
A Closer Look at VirtualArmour
VirtualArmour provides the following managed security services:- Managed Endpoint Protection.
- Managed Firewall Security.
- Managed Threat Intelligence.
