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Skyview Capital acquires Fidelis Cybersecurity to tap into a $25 billion U.S. cybersecurity market | Tech News | Startups News

Global news BCyber todayMarch 16, 2020 16

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Skyview Capital, a global private investment firm, has acquired Bethesda, MD-based Fidelis Cybersecurity adding to its software technology portfolio. The acquisition will enable Skyview to tap into the booming global cybersecurity market, which is on track to surpass $133 billion in 2022.

Founded in 2002 by Gene Savchuk, Fidelis Cybersecurity is a leading provider of threat detection, hunting and response solutions. Fidelis combats the full spectrum of cyber-crime, data theft and espionage by providing full visibility across hybrid cloud / on-prem environments, automating threat and data theft detection, empowering threat hunting and optimizing incident response with context, speed and accuracy.

Fidelis employs over 250 highly skilled professionals, including some of the world’s leading cybersecurity experts with specialists from the US Department of Defense, Intelligence Community, and Industry. Before the acquisition, Fidelis Cybersecurity has raised a total of $49.3M in funding over 4 rounds. Its latest funding was $25 funding raised on Sep 18, 2018 from a Private Equity round.

Fidelis addresses a major challenge faced by enterprises today, which see threats becoming more sophisticated. With Fidelis Elevate, organizations have a streamlined security stack that integrates network, endpoint and deception defenses, automates and orchestrates workflows, and correlates rich metadata across these security layers to ensure continuous visibility across an enterprise’s cyber terrain. This allows companies and government organizations to have the necessary visibility to quickly detect, hunt and respond to threats at every step of an attack, keeping their business operations and data safe.

“This is another exciting addition to our portfolio, and we are excited to be partnering with the Fidelis team in further fueling its trajectory,” said Alex Soltani, Chairman and CEO of Skyview. “With the ever-increasing complexity of digital environments and the pace of cyber threats across the world, we see an opportunity to build upon Fidelis’ impressive technology and solidify its position within the IT security industry. This transaction aligns well with our investment philosophy of targeting and investing in mission critical technology businesses across a wide spectrum of verticals, from telecommunications to cybersecurity.”

“We are excited to partner with Skyview Capital and benefit from their ability to help us take the Fidelis platform, which provides unmatched visibility and empowers security teams to rapidly respond to threats, into other markets. We see a great opportunity to continue evolving our solution that will further differentiate us by providing a holistic approach to keeping organizations safe in an increasingly threatening environment,” said Nick Lantuh, President and Chief Executive Officer of Fidelis Cybersecurity.

Darryl Smith, Skyview Capital’s President of Global Portfolio Operations, said, “The Skyview Portfolio Operations team is working closely with the Fidelis team to ensure a smooth transition into Skyview’s portfolio. We are committed to offering any and all strategic and operational support to Fidelis’ management team. We have established and look forward to building upon a strong relationship with key Fidelis customers.”

Going forward, Skyview will continue to pursue opportunities within the IT security category. “Skyview is committed to realizing the full value of Fidelis as a safeguard against cyber threats, and we are enthusiastic about identifying both organic and inorganic growth opportunities,” added Mr. Soltani.

This content was originally published here.

Written by: BCyber

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