MDR Security Acquisition: Clearwater Compliance Buys Tech Lock
This is technology M&A deal number 677 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Clearwater, founded in 2009, is based in Nashville, Tennessee. The company has 200 employees listed on LinkedIn. Clearwater’s areas of expertise include HIPAA compliance, risk analysis, cyber risk management, information risk management and medical device risk management.
Tech Lock, founded in 2008, is based in Troy, Michigan. The company has 22 employees listed on LinkedIn. Tech Lock’s areas of expertise include cybersecurity, managed threat detection, endpoint security, firewall management and log management.
What the Tech Lock Acquisition Means for Clearwater
Tech Lock will operate as a Clearwater subsidiary and serve customers in healthcare, insurance and manufacturing, the companies said. Meanwhile, Tech Lock CEO Brian McManamon will serve as a Clearwater business unit leader, and Tech Lock CIO Steve Meyer and CSO and CTO Steve Akers will continue to work within the new organization operating under the Clearwater umbrella.
In addition, Tech Lock enables Clearwater to provide MDR services, the companies noted. Tech Lock also will continue to explore ways to deliver solutions to help organizations build and execute cybersecurity, risk management and compliance programs.
Clearwater Acquires IT Auditing Firm CynergisTek
The Tech Lock acquisition comes after Clearwater in May 2022 purchased CynergisTek, a cybersecurity and IT auditing firm, for $17.7 million in cash.
CynergisTek now operates as a privately held subsidiary of Clearwater, the companies said. It delivers healthcare cybersecurity, privacy and audit services.
Clearwater specializes in cybersecurity, risk management and HIPAA compliance software, consulting and managed services to more than 400 healthcare organizations. The company provides the ClearAdvantage program to deliver cyber risk management and HIPAA compliance managed services. It also offers cyber risk management-as-a-service and vendor risk management-as-a-service.