ActZero has acquired IntelliGO Networks, a provider of managed detection and response (MDR) cybersecurity services. The two companies will promote artificial intelligence (AI) and machine learning to bolster MDR services. Financial terms were not disclosed.
This is M&A deal Number 71 that MSSP Alert and ChannelE2E have covered in 2020. See the complete M&A deal list here. Also, this is the second MDR buyout we've seen this year. The other involved Skyview Capital buying Fidelis Cybersecurity.
Under ActZero's ownership, IntelliGO will operate as an independent entity. The acquired business aligns with ActZero's "vision of revolutionizing the Managed Security Services landscape with a unified, AI-driven security platform," the companies say.
IntelliGO, founded in 2005, originally was a value-added cybersecurity reseller and managed services firm. Since then, it has evolved to serve the growing needs of small to medium enterprises by developing the IntelliGO MDR Platform. IntelliGO has previously announced investments in augmenting its offering with machine learning, and this combination will enable the firm to deploy and scale similar tools and process improvements to gain efficiencies and deliver superior, faster, more predictable service to clients.
Meanwhile, ActZero has a shorter business history. The company was founded in January 2019, according to CrunchBase. Based in Seattle, ActZero is seeking to marry artificial intelligence (AI) with MDR services.
ActZero Acquires IntelliGo: Executive Perspectives
In a prepared statement, Khaled Mansour, founder and President of IntelliGO, said:
"The expertise in AI and machine learning that ActZero's team brings is a game-changer. Augmenting our efficacy and efficiency at scale will optimize our ability to reduce risk for our clients," said Khaled Mansour, founder and President of IntelliGO. "We are building the future of cybersecurity together."
Added Sameer Bhalotra, CEO of ActZero:
"Our vision is to build a world-class cybersecurity services platform — which requires understanding and addressing business users' needs today, while dominating in machine learning and artificial intelligence to get ahead of tomorrow's threats. IntelliGO's offering is exceptional, with deep client relationships, flexible proprietary software, and critical insight off which to build models. That's what makes this combination so complementary, and what makes our ambitious goals so achievable."
The Chertoff Group, a global advisory services firm focused on security and risk management, helped execute sourcing and diligence.
MSSP and MDR Mergers and Acquisitions
Merger, acquisition and investment activity continues strong across the MSSP and MDR cybersecurity services markets.