Rapid7 acquires DivvyCloud Corporation in $145m deal

From: RegTech Analyst

Cybersecurity company Rapid7 has revealed that it is buying DivvyCloud Corporation, a leader in cloud security posture management, in a $145m deal.

Although, it added that the final price may be subject to some adjustments. The money will be paid in cash and stock. The acquisition is expected to close during the second quarter of 2020, subject to the satisfaction of customary closing conditions.

Through the deal, Rapid7’s customers could be given the have the ability to innovate more securely, move out of data centres and into the cloud, and make infrastructure accessible and manageable.

“We are thrilled to welcome DivvyCloud, its customers, and the entire DivvyCloud team to the Rapid7 family,” said Corey Thomas, chairman and CEO of Rapid7. “With the acceleration of cloud adoption introducing new enterprise risk areas, we’re excited to bring security and DevOps teams together with DivvyCloud’s best-of-breed compliance, risk management and governance for multi-cloud and container environments, while also integrating it with our Insight Cloud platform to create enduring customer value.”

Brian Johnson, CEO and co-founder, of DivvyCloud, added, “Joining forces with Rapid7 is a natural next step. Their commitment to customers, employees, and company culture is well-aligned with the values that have made DivvyCloud so successful. With the combined expertise of both Rapid7 and DivvyCloud, we are even better positioned to help enterprises accelerate innovation using cloud and containers without the loss of control.”

DivvyCloud have previously been backed in a $19m funding round in 2019 by Providence Strategic Growth, MissionOG and RTP Ventures.

Copyright © 2020 FinTech Global

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