Mentioned:
One of the leaders in analytics software in the public markets is now buying a cybersecurity company. But, why?
What’s happening:
- Cognyte Software (NASDAQ: CGNT) has acquired cybersecurity company GroupSense
By the numbers:
- Cognyte Software paid $4M USD to purchase GroupSense
- GroupSense also has the ability to earn up to $5M USD in additional milestone payments as part of the acquisition
Why it matters:
- GroupSense has built one of the largest datasets in the world around the dark web and has multiple patents focused on methods to remove sensitive information from the dark web to prevent cyber attacks and ransomware
Going deeper:
- Cognyte Software has hundreds of government agencies as customers, including the National Security Agency and law enforcement agencies in the United States of America
The intrigue:
- Cybersecurity also continues to be a major theme in Silicon Valley, with OpenAI’s venture capital fund recently making a strategic investment into generative artificial intelligence cybersecurity startup Adaptive Intelligence
