Private Equity Acquires Vulnerability Management Security Company
Private equity firm Vitruvian Partners has acquired Outpost24, a cybersecurity company focused on vulnerability management, user password security, application security testing and cyber threat intelligence. The seller was Monterro. Financial terms were not disclosed.
This is technology M&A deal number 633 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Outpost24: Global Reach, MSSP Partner Program
Outpost24, founded in 2001, is based in Kariskrona, Blekinge County, Sweden. The company has 164 employees listed on LinkedIn, and claims 2,500 customers in more than 65 countries. Outpost24 has grown organically and through acquisitions — including a November 2021 deal to buy password management firm Specops Software.
Outpost24 has an MSSP partner program that includes threat intelligence capabilities. The company’s own managed services allow customers to “continuously identify and reduce your attack surface without the overheads of increasing headcounts,” according to the company’s website.
Vitruvian’s majority ownership will induce “investment in people, processes, and industry-leading technology to further strengthen its leadership position in a large and growing market,” Outpost said.
Outpost24 Poised for Growth
With offices across Europe and the US, Outpost24 plans more international expansion during the coming years. Outpost24 CEO Karl Thedéen describes the advantage behind the acquisition:
“Our vision has always been to make businesses resilient to cybersecurity risk. Through our partnership with Vitruvian we will have increased opportunities to empower security and business leaders to identify cyber threats and secure their organizations with speed and confidence. The new investment will bolster our ambition to become a global cybersecurity champion by accelerating our product roadmap and increasing our sales and marketing efforts.”
Vitruvian has backed more 70 companies and has approximately €10 billion (US$10.71 billion) in assets, the private equity firm indicates. Earlier investments include Bitdefender (2017), FinTech firm CFC (2021) and Darktrace (2018).
Jussi Wuoristo, partner at Vitruvian Partners, explains the fit with Outpost24:
“As the frequency and cost of cyberattacks is quickly increasing, Outpost24 has developed an unrivaled full stack cyber risk management platform that creates tremendous value for businesses around the world. Vitruvian has backed several exceptional global leaders in cybersecurity and we are excited to partner with the team at Outpost24 to help accelerate the company’s international expansion and product innovation.”