Coalfire Acquires Veris Group

Larry Jones, Coalfire

Cybersecurity risk management and compliance services firm Coalfire announced Dec. 21 it has acquired Veris Group, a provider of cyber risk advisory, compliance assessment, technical testing and engineering services.

“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,” Coalfire CEO Larry Jones said.

“We are excited by the opportunity to join forces with Coalfire,” Veris Group co-founder Dave Svec said. “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,” Veris Group co-founder Doug Greise said. “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.”

“This deal, in particular, adds meaningful strategic scale to Coalfire and its cybersecurity offerings,” KippsDeSanto & Co. Managing Director Bob Kipps said. “More broadly, it is exciting to see Carlyle — who recently sold its last position in Booz and had been a net seller until its 2015 purchase of Novetta — now have two well-positioned industry platforms.”

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.

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