HelpSystems Goes on the Security Offensive Again
October 5, 2022 Alex Woodie
Just when you thought HelpSytsems had bought enough companies, the Eden Prairie, Minnesota, company cranks up the acquisition machine again and gobbles up a few more vendors. Like with previous acquisitions, its recent targets are in security.
The most recent buy was completed a month ago, when HelpSystems bought Outflank Security Tooling, which it describes as “an IT security leader with deep expertise in adversary simulation, specialist cyber security trainings, and a unique cloud-based software offering for red teams.”
Penetration testing has become popular as security vulnerabilities in corporate systems have become more apparent. Adversary simulation, or “red teaming,” is a similar technique that involves an active defense against a live adversary. If penetration testing is a passive activity designed to identify static flaws in your defenses, then red teaming is the dynamic version of it that allows your internal cybersecurity team to test their abilities in real time against the bad guys (i.e. the red team).
The acquisition of OST, which is based in the Netherlands, would appear to bolster HelpSystems’ offerings in this growing field.
“Some red teamers develop their own tools or look to niche, open-source options to undertake engagements,” HelpSystems says in its September 1 press release announcing the acquisition. “Outflank provides consulting, trainings, and a SaaS-based software toolkit that allows stringently vetted organizations to evaluate their defenses in light of today’s high-stakes security environment.”
OST has worked in the past with Cobalt Strike, a HelpSystems acquisition from 2020, so the odds are good that the teams mesh well (but not too well – this is all about adversarial work, after all).
HelpSystems made a few other acquisitions of security firms earlier this year that IT Jungle somehow missed. This includes the April acquisition of Terranova Security, a provider of phishing simulation and security awareness training based in Laval, Quebec.
Many cybersecurity attacks, including most ransomware attacks, begin with a malicious email. The email might look so legitimate that an employee clicks on a link. However, instead of going to a legitimate website, the link invariably goes to a website that automatically loads malware onto the employee’s PC. The cybercriminals then exploit that malware to gain access to sensitive corporate systems, with encryption sure to follow.
Terranova uses gamification techniques to help educate users about the dangers of malicious emails and give them the information they need to determine if an email is legitimate or not. The company’s offering is available in 40 languages, and works with HelpSytsems other email security offerings, including Clearswift (acquired in 2019), Agari (acquired in 2021), and PhishLabs (also acquired in 2021).
“Organizations in every vertical are learning that developing a cyber-aware culture is one of the best ways to prevent attacks and the downstream damage they can cause,” HelpSystems CEO Kate Bolseth says in a press release. “Terranova Security’s global reach and gamification techniques truly set them apart. Additionally, their record in training users to fend off attacks is exceptional, and we believe their knowledge and capabilities will enable our customers to excel in this as well.”
In March, HelpSystems acquired Alert Logic, a provider of managed detection and response (MDR) services. Companies of all stripes are shorthanded right now in the security department, and MDR services are designed to help fill the gap by offloading some security functions to a third-party provider.
Based in Houston, Texas, Alert Logic was founded 20 years ago, and had about 4,000 customers when it was bought by HelpSytsems for an undisclosed sum. The company maintains staffers with a slew of regulatory endorsements to their credit, including PCI DSS, HIPAA HITECH, GDPR, Sarbanes-Oxley (SOX), SOC 2, NIST 800-171 and 800-53, ISO 27001, and COBIT, among others.
Now a part of HelpSystems, Alert Logic will help customers stay on top of the slew of security alerts that come over the wire, many of which are false alarm, but some of which are legitimate and must be acted upon.
“Our customers and global partner community trust us to help them achieve peace of mind in a swiftly changing, high-stakes environment rife with cyberattacks,” Alert Logic CEO John Post says in a press release. “We look forward to enabling HelpSystems to expand its offerings to customers looking to supplement their teams with managed services.”
HelpSystems also acquired Tripwire in February. The Portland, Oregon-based developer of file integrity monitoring software is relied upon by customers to alert them of any changes made to sensitive information.
Tripwire was originally developed by a Purdue University student named Gene Kim who was interested in the Morris Worm, one of the first major malware attacks. Kim developed Tripwire to be alerted when malware starts modifying files. It was such a success that he founded the company in 1997.
Today, Tripwire offers a slew of related products, ranging from Tripwire Enterprise and Tripwire LogCenter to a managed security offering called Tripwire ExpertOps and an open source version of Tripwire too. The company was previously owned by Belden, the publicly traded manufacturer of networking, connectivity, and cable products, which sold the company to HelpSytsems.
“HelpSystems is a trusted name in cybersecurity, and their strategic direction, positive culture, and depth of resources will be an excellent fit for our team and our solutions,” Tripwire President Subhajit Bagchi said in a press release.
HelpSystems, which is a private company, didn’t disclose terms of any of the acquisitions. By our count, it has made 16 acquisitions of security firms over the past four years. According to a March story in the Minneapolis Star-Tribune, the company had revenue of $550 million in 2021, and was on track to have 2022 revenues of $800 million following the Alert Logic acquisition.
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