Pondurance, a managed detection and response (MDR) services provider backed by private equity firm Newlight Partners, has acquired advisory and assessment services company Bearing Cybersecurity. Financial terms of the deal were not disclosed.
This is technology M&A deal number 356 that MSSP Alert and sister site ChannelE2E have covered so far in 2021.
Pondurance MDR Gains Risk Management Tools
Bearing's technology -- particularly the MyCyberScorecard risk management platform -- is expected to strengthen Pondurance's MDR services and help its customers improve their security posture and comply with industry and regulatory standards, the buyer said.
MyCyberScorecard provides organizations with cybersecurity assessments that align with internal and external standards and compliance requirements, Pondurance noted. Organizations can use MyCyberScorecard to obtain a health score (MyCyberScore) that highlights potential cybersecurity gaps and offers remediation recommendations.
Furthermore, MyCyberScorecard helps organizations comply with PCI, HIPAA and other industry and regulatory standards, Pondurance indicated. It also ensures organizations can verify that their third-party and supply chain vendors are conforming to security standards.
Pondurance Adds to Its Leadership Team
The Bearing acquisition comes after Pondurance in November 2020 named Mariana Swann as its program director for legal and insurance and appointed Lyndon Brown as its chief strategy officer.
Swann manages Pondurance’s relationships with security teams and executive stakeholders focused on cyber insurance, governance, compliance and other cyber risk issues, the company said. She previously led the strategic legal and insurance vertical program for RSA Security's global risk and cybersecurity practice.
Brown is responsible for Pondurance's product management, corporate development and cross-functional performance, the company stated. He most recently was VP of business development at FireEye Mandiant.