Cipherpoint (CPT), an Australian company that specializes in Microsoft SharePoint security, has acquired MSSP Brace168. The transaction is expected to be finalized in early March, and Brace168 will be managed as a separate business, according to a prepared statement.
This is M&A deal number 61 that MSSP Alert and ChannelE2E have covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here. Also, we've tracked more than 50 MSSP mergers and acquisitions here.
CPT plans to leverage Brace168 to deliver integrated security solutions globally, Chairman Ted Pretty said. It will focus on the following areas:
- Security solutions
- Data protection
- Data discovery
In addition, Brace168 will explore ways to "set new standards in cybersecurity," spokesperson Greg Bunt noted. Brace168 will provide managed detection and response (MDR) services, security analytics and data protection to support CPT's growth.
A Closer Look at Brace168
Brace168 builds managed services designed for businesses and government agencies, the company stated. It offers services across the following categories:
- Discovery: Provides vulnerability assessments, penetration testing and other services to help organizations identify cyber threats
- Defense: Provides managed firewalls, intrusion detection and other services to protect organizations against internal and external threats
- Diagnosis: Provides a data center, security operations center (SOC) and security orchestration, automation and response (SOAR) service to detect data breaches
- Remediation: Provides real-time remediation of cyberattacks and incident response planning, communications, reports and analysis
- Recovery: Provides services to help organizations assess and mitigate risk across their IT infrastructure
Brace168 recorded revenues of A$1.3 million (approximately $1 million) in the first half of fiscal year 2021 and A$1.2 (nearly $930,000) in FY20, the company said. It supports customers via points of presence in data centers in Australia, the United States and Europe.
What Does the Brace168 Acquisition Mean for CPT?
CPT wanted to acquire a business "with a strong and complementary platform," Pretty noted. Brace168 offers an attractive organic growth trajectory, Pretty said, and could help CPT extend its reach in the global cybersecurity market.
Organizations use CPT's solutions to discover, protect and control information across multiple SharePoint and other platforms, according to the company. That way, organizations can leverage these solutions to minimize risk and comply with data security mandates.