MSSP in Play? VirtualArmour Hires Investment Banking Firm
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.
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.
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.
A Closer Look at VirtualArmour
VirtualArmour provides the following managed security services:
- Managed Endpoint Protection.
- Managed Firewall Security.
- Managed Threat Intelligence.
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.