Rapid7, the security automation technology firm, announced that it will pay $335 million in cash and stock to buy the New York-based, privately-held firm, IntSights. The purpose of this acquisition is so Rapid7 can protect customers even before an attack reaches the perimeter.
In a press release announcing the deal, Rapid7 cited the pandemic and the subsequent digital transformation it brought as having expanded the ‘perimeter’ of networks ‘exponentially.’ Rapid7 said it plans to combine its “community-infused” threat intelligence and comprehensive understanding of customer environments, with IntSights’ external threat intelligence capabilities.
IntSights was formerly known as IntSights CyberIntelligence and was founded in 2015 by Israeli military intelligence veterans. The company received $71 million in venture capital funding from Blackstone Private Equity, Gilot Capital Investments, and Blumberg Capital. IntSights claims that its threat intelligence platform can detect attacks before they reach the perimeter of the customer’s network.
The protections involve listening in on dark web chatter for updated details on what could be aimed at your organization. These and many other features are what it puts at the forefront when pitching the platform to users.
The acquirer was founded a little over two decades ago and is based in Boston, Massachusetts. During the statement release, Rapid7 said that its revenue and net income for Q2 will come in higher than the forecast figures. It reported that its annualized recurring revenue rose 29% year over year to reach $489 million. The company’s full report results are expected to come out on August 4th.
In April of last year, Rapid7 acquired DivvyCloud in a deal that will be surpassed by the IntSights acquisition. In the 22 years that the company has been in operation, this is the largest acquisition it has ever made.