Forcepoint, global cybersecurity firm owned by U.S. defense contractor Raytheon, announces agreement to acquire RedOwl, a cybersecurity analytics company. The acquisition will expand the Austin-based company’s technology portfolio with RedOwl’s user and entity behavior analytics (UEBA) technology.
Financial terms of the deal were not immediately disclosed, but Forcepoint will take control of RedOwl’s UEBA technology and staff based in New York City and Baltimore.
“The world has fundamentally changed and the way we think about security must change, as well. If the cybersecurity industry fails to put people at the center, it is certain to fall short in helping customers protect their most vital assets,” said CEO of Forcepoint Matthew P. Moynahan. “Forcepoint is absolutely committed to empowering customers with human-centric security systems and RedOwl fits squarely into this promise.”
RedOwl’s current chief executive officer Guy Filippelli will assume the role of Forcepoint’s vice president when the acquisition is complete.
“As I’ve watched Forcepoint’s story unfold, it is clear we share the view that a human-first approach must be the path to addressing cybersecurity and internal risk,” said Filippelli. “The opportunity to deliver a holistic solution around proactive human oversight is exciting; joining Forcepoint will accelerate our ability to deliver these important capabilities to our customers. We’re thrilled to become a part of the Forcepoint team.”