Security On-Demand, with the backing of venture capital company Nautic Partners, has acquired Booz Allen Hamilton’s commercial Managed Threat Services (MTS) business, the companies announced in a prepared statement
This is technology M&A deal number 1,020 that MSSP Alert and sister site ChannelE2E have covered so far in 2022. Financial terms of the deal were not disclosed.
Security On-Demand (SOD) is headquartered in San Diego, California and has 75 employees, according to LinkedIn. SOD provides 24/7 advanced cyberthreat detection services for mid-market companies and state and local government agencies. It’s patented, behavioral analytics technology platform, ThreatWatch, enables the detection of advanced threats that help protect brand value and reduce the risk of a data breach, the company said.
MTS and Security On-Demand will operate as one unified organization and brand known as DeepSeas. The business will offer expertise that combines cyberthreat detection with industry-leading analysts, tailored threat intelligence and accredited incident responders, according to DeepSeas’ prepared statement.
DeepSeas CEO Chris Esemplare applauded the new venture:
“I am excited about the unique capabilities this combined team of experts brings to the market, as well as our plans to scale in a measured and meaningful way. We have the ability to deliver a scalable cybersecurity platform in addition to the skills to help clients customize their security programs.”
Security On-Demand’s acquisition of Booz Allen’s MTS business comes in an environment in which threat actors are continuously working to compromise organizations. Now, DeepSeas will offer threat detection, analytics and data science, as well as expert workflow and intelligence across a variety of industries.
Through Nautic Partners, the DeepSeas leadership team will have access to capital to enhance the DeepSeas platform and capabilities, the company stated. In addition, Booz Allen and DeepSeas will maintain a strategic and close alignment that enables continued collaboration between the two companies in the commercial market.
Wade Alt, Booz Allen senior vice president, who will join the DeepSeas leadership team as chief operating officer, offered his perspective on the path ahead:
“This acquisition is a testament to the talent and achievements of Booz Allen and our MTS team. It creates exciting opportunities to serve clients in new ways across a rapidly expanding and extremely dynamic cyber market. Together with Security On-Demand, we look forward to exposing our talent to new opportunities to deepen and expand their cyber skills. Our combined talent and offerings give DeepSeas customers a unique portfolio of solutions that enables us to protect their environments with industry-leading tradecraft, talent, and technology.”
Peter Bybee, vice president of Strategy and founder of Security On-Demand, added:
“We are delighted to join together with the MTS team. Leveraging our complementary skills, advanced technical capabilities, and highly skilled workforces, we will further expand our differentiated solutions for clients as they navigate an increasingly sophisticated threat landscape.”
More About Managed Threat Services (MTS)
Named the most innovative global managed detection and response (MDR) service provider by Frost & Sullivan, MTS protects customers’ digital assets by patrolling and removing harm from their environments, DeepSeas said. And by combining threat intelligence with MDR, MTS delivers actionable insights, 24/7 threat detection, investigation. This capability includes securing operational technology (OT) with the first-ever fully integrated IT/OT capability, while still ensuring OT threats are responded to according to the unique needs of the environment.