Thursday December 22, 2016 0 comments
WESTMINSTER -- Coalfire, a leader in cybersecurity risk management and compliance services, announced it has acquired Virginia-based Veris Group, a highly-regarded provider of cyber risk advisory, compliance assessment, technical testing, and engineering services since its inception in 2005.
Coalfire said the acquisition further strengthens its leading position in the cybersecurity market and enhances its breadth and depth of services and industry knowledge in commercial markets and the public sector.
The combined entity becomes one of the largest providers of cybersecurity services in today’s market, the company said.
Together, Veris Group and Coalfire represent:
- The largest provider of advisory and assessment services to the cloud service provider (CSP) market
- The leading FedRAMP third-party assessment organization (3PAO), whose services are required by CSPs who want to do business with the U.S. government
- A top advisory and assessor organization for the payment card industry
- A unique provider of security engineering services
- One of the largest, most advanced, and industry-recognized technical testing and simulation teams
“Our collective customers will have the advantage of a more comprehensive set of services focusing on assessing cyber risk and testing against real world threats, which will create a complete picture of possible vulnerabilities, threats, and gaps that could impact their business,” said Larry Jones, Coalfire CEO.
“We are excited by the opportunity to join forces with Coalfire,” said Dave Svec, co-founder of Veris Group. “Together, we will be able to provide deeper insights into our customer’s security posture.
“The collective knowledge that our organizations have gained from over 15 years of security experience and research, more than 2,500 penetration tests, and over 3,000 assessments makes this union a game-changer for the cyber market.
“Combining with Coalfire also enables us to join in the partnership with The Carlyle Group, Baird Capital, and The Chertoff Group, benefitting from their collective support and specialized expertise.”
“Aligning with Coalfire brings together two very like-minded companies,” said Doug Greise, co-founder of Veris Group.
“Both organizations are committed to product-agnostic services, cyber risk innovation, and providing the right people, process, and technology to help reduce risk and comply with regulations.”
Financial details of the acquisition were not disclosed.
The acquisition was funded in part by new equity investments by The Carlyle Group’s U.S. Middle-Market fund and affiliates of The Chertoff Group, highlighting both firms’ strong partnership with Coalfire management and continued support of Coalfire’s strategic growth and continued success.