Cycurion, an MSSP and managed IT services provider, is merging with special purpose acquisition company (SPAC) Western Acquisition Ventures. Cycurion also has received an implied enterprise value of roughly $170.44 million, according to a prepared statement.
This is technology M&A deal number 991 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Cycurion, founded in 2017, is based in McLean, Virginia. The company has seven employees listed on LinkedIn. Cycurion's areas of expertise include cybersecurity, network support and healthcare IT.
Western Acquisition Ventures, founded in 2021, is based in New York, New York. The company has four employees listed on LinkedIn. Western Acquisition Venture's areas of expertise include mergers, asset acquisitions, stock purchases and business recapitalization and reorganization.
What the Merger Means for Cycurion and Western Acquisition Ventures
Together, Cycurion and Western Acquisition Ventures will be named Cycurion Inc. and listed on NASDAQ, the companies said. Cycurion's leadership and management team will remain in place to oversee the combined company.
Meanwhile, the combined company will serve federal, state and local government agencies and commercial partners and help C-suite executives and other business leaders manage cyber risks in real time, Cycurion CEO Emmit McHenry said. It also will continue to look for ways to bolster Cycurion's multi-layered SaaS platform and capitalize on rising demand for cybersecurity solutions globally.
The Cycurion-Western Acquisition Ventures merger is expected to be completed in the first quarter of 2023.
A Closer Look at Cycurion and Western Acquisition Ventures
Cycurion provides compliance, risk management and other cybersecurity services that help organizations protect their digital assets, limit false-positive security alerts and guard against threats that lead to data breaches. The company's partners and customers include:
- U.S. Department of Defense
- General Dynamics
- Northrop Grumman
Western Acquisition Ventures is a "blank check company" backed by LLC Western Acquisition Ventures Sponsor. As a SPAC, Western Acquisition Ventures raises funds in an initial public offering (IPO) with the goal of acquiring a private business, which ultimately becomes public as result of a merger.