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Private Equity Acquires MDR: Skyview Capital Buys Fidelis Cybersecurity

Private equity firm Skyview Capital has acquired Fidelis Cybersecurity, a managed detection and response (MDR) service provider that has threat detection, hunting and incident response capabilities. Financial terms were not disclosed.

This is M&A and Investment Deal Number 58 that MSSP Alert and ChannelE2E have covered in 2020. See the complete M&A deal list here.

Skyview says Fidelis will pursue organic growth along with acquisitions that further boost the cybersecurity business.

Fidelis launched its MDR platform in August 2018, and raised $25 million in September 2018.  Fidelis Cybersecurity offers Network Traffic Analysis and Digital Forensics and Incident Response solutions. The offerings are delivered as standalone network, endpoints and deception products, an integrated platform, or as a 24×7 MDR service that augments existing security operations, threat hunting and incident response capabilities, the firm says. The company, based in Bethesda, Maryland, now has roughly 250 employees.

Skyview Capital is a global private equity firm in Los Angeles, California. The company’s investment focus includes the technology, telecommunications, business services, and manufacturing sectors.

Skyview Capital Acquires Fidelis Cybersecurity: Executive Perspectives

Skyview Capital President Darryl Smith

Fidelis Cybersecurity CEO Nick Lantuh

Skyview Capital CEO Alex Soltani

In a prepared statement about the deal, Skyview CEO Alex Soltani said:

“This is another exciting addition to our portfolio, and we are excited to be partnering with the Fidelis team in further fueling its trajectory. With the ever-increasing complexity of digital environments and the pace of cyber threats across the world, we see an opportunity to build upon Fidelis’ impressive technology and solidify its position within the IT security industry. This transaction aligns well with our investment philosophy of targeting and investing in mission critical technology businesses across a wide spectrum of verticals, from telecommunications to cybersecurity.”

Added Nick Lantuh, president and CEO of Fidelis Cybersecurity:

“We are excited to partner with Skyview Capital and benefit from their ability to help us take the Fidelis platform, which provides unmatched visibility and empowers security teams to rapidly respond to threats, into other markets. We see a great opportunity to continue evolving our solution that will further differentiate us by providing a holistic approach to keeping organizations safe in an increasingly threatening environment.”

Concluded Darryl Smith, Skyview Capital’s president of global portfolio operations:

“The Skyview Portfolio Operations team is working closely with the Fidelis team to ensure a smooth transition into Skyview’s portfolio. We are committed to offering any and all strategic and operational support to Fidelis’ management team. We have established and look forward to building upon a strong relationship with key Fidelis customers.”

Roll those quotes together, and it’s clear that Skyview and Fidelis are seeking to acquire and tuck additional cybersecurity businesses into Fidelis.

MSSP and MDR Mergers, Acquisitions and Investments

M&A activity and private equity deals within the MSSP and MDR markets remain strong. Recent deals include:

Here’s a list of all MSSP and MDR mergers and acquisitions.

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