This is technology M&A deal number 693 that MSSP Alert and sister site ChannelE2E have covered so far in 2021.
Government Supply Chain Security Service
The BlueVoyant-202 Group deal is particularly timely. President Biden this year issued executive orders on supply chain management and cybersecurity. Amid that backdrop, BlueVoyant will leverage 202 Group and various technologies to launch a new managed security service called BlueVoyant Supply Chain Command.
The service "enables program executive officers to identify risks as they are introduced into the supply chain or customize a solution to meet the needs of specific programs and contracts, in order to fully understand and protect their program’s supply chain," BlueVoyant asserts.
The supply chain security solution is one module within BlueVoyant’s larger Ecosystem Cyber Defense Platform -- which also includes Managed Detection and Response (MDR) and threat intelligence solutions.
202 Group, BlueVoyant: Security Business Backgrounds
202 Group, founded in December 2018, has eight employees listed on LinkedIn. The company positioned itself as a data analytics company "with the people, processes, and tools to provide government and commercial clients with actionable insights into market intelligence, supply chain risk, and company due diligence."
202 Group's two flagship platforms included:
- 202scrm, a supply chain illumination and supplier risk monitoring solution that "provides early warning for risk without relying on internal supply chain data."
- 202scout is a market analysis and tech sensing solution to "help clients gain better market awareness and peer over the horizon," a company description indicated.
BlueVoyant, originally known as BlueteamGlobal, was formed through the combination of three cybersecurity companies and secured $125 million in financing in 2017. Fast forward to 2021, and BlueVoyant has remained very active on the funding, acquisition and business expansion fronts. Among the next-generation MSSP's business moves in 2021:
- October 2021: Extended its MDR to support SentinelOne endpoint detection & response (EDR) capabilities.
- October 2021: Raised $30 million and purchased Concanon, a professional services company focused on Splunk,
- September 2021: Partnered with Telstra to launch MDR endpoint cybersecurity services in Australia & New Zealand.
- July 2021: Launched Modern SOC for Splunk platform.
- March 2021: Unveiled the Modern Security Operations Center (SOC) consulting, implementation & MDR services portfolio. The launch arrived five months after BlueVoyant acquired Managed Sentinel — a Microsoft Azure Sentinel partner for cloud-based SIEM services.
- February 2021: Hired IBM Security veteran Gyorgy Robert Racz to drive European expansion.
BlueVoyant Acquires 202 Group: Executive Perspectives
In a prepared statement about the BlueVoyant-202 Group deal, and the resulting supply chain security platform, BlueVoyant CEO Jim Rosenthal said:
“Simply put, there is nothing like this on the market. The U.S. federal government has implemented policies and procedures to ensure the security of its myriad supply chains. We are proud to join in this effort by delivering advanced technology solutions backed by elite experts with the knowledge needed to help reduce risk to government entities and their mission-critical programs.”
Added 202 Group CEO Arun Sankaran:
“As a team, we bring decades of experience helping government entities identify and manage risk in their supply chain. We are excited to join forces with BlueVoyant and its amazing team of cybersecurity professionals to take government supply chain risk management to the next level.”