Cybersecurity analytics provider Rapid7 purchased IntSights Cyber Intelligence, a US-based provider of cyber threat intelligence technology, yesterday, in a $335m cash-and-stock deal enabling IT services firm Wipro to exit.
IntSights has developed a software platform which provides intelligence on cyber threats in real time, allowing for quick threat remediation. The deal is intended to heighten Rapid7’s threat detection service along with its extended detection and response technology.
Corey Thomas, Rapid7’s chairman and chief executive, said: “Cybersecurity is a lopsided battle today and the odds consistently favour attackers.
“Both IntSights and Rapid7 have a shared belief that organisations will succeed only when they have a unified view of internal and external threats, complete with contextualised intelligence and automated threat mitigation which will allow security teams to focus on the most critical threats.”
The transaction comes after $54m in funding for IntSights, which most recently secured $30m in a late 2019 series D round led by Qumra Capital and backed by undisclosed existing investors.
Wipro subsidiary Wipro Ventures took part in a $17m series C round for the company the previous year that was led by Tola Capital and also backed by Glilot Capital Partners, Blackstone, Blumberg Capital and ClearSky Security.
IntSights had received $15m from Wipro Ventures, Blumberg Capital, Vintage Investment Partners, Glilot Capital Partners and Blackstone in 2017 following $7.5m in series A funding from Wipro Ventures, Blumberg Capital, Glilot Capital Partners and Blackstone the year before.
Wipro Ventures invested a total of $4.2m in the company between 2016 and 2019 and secured a $19.2m return on the investment, according to a stock exchange filing cited by VCCircle.
