Home / M&A Activity / LookingGlass to Acquire QinetiQ’s Cyveillance Threat Intell Business for $35M

LookingGlass to Acquire QinetiQ’s Cyveillance Threat Intell Business for $35M

CyberStockLookingGlass Cyber Solutions has agreed to acquire online monitoring and threat intelligence business Cyveillance from British defense technology contractor QinetiQ Group for approximately $35 million in cash.

Chris Coleman, CEO of LookingGlass, said Friday his company aims to build a comprehensive intelligence-based platform for security professionals to manage business risks and threats.

Arlington, Virginia-based Cyveillance offers cloud-based technology designed to monitor and analyze digital information sources as well as to guard enterprise data and infrastructure from cyber and physical threats.

QinetiQ, which first purchased Cyveillance in 2009 in a potential $80 million deal,  said the business posted $18 million in revenue for the parent company’s most recent full fiscal year ended March 31.

London-based QinetiQ retained Cyveillance in 2014 when the parent company sold its former U.S. services division to Vencore — then known as The SI Organization — for between $156 million and $215 million, depending on the unit’s performance.

LookingGlass has raised $50 million in a recent series C funding round from NewSpring Capital, Louie Partners and the Neuberger Berman Group.

The cybersecurity firm plans to use the money to finance its product development and integration, sales, marketing, customer support and business expansion initiatives.

ARC Securities served as LookingGlass’ adviser on the acquisition and capital fundraising efforts.

Check Also

MC Dean Wins Potential $98M Navy IDIQ to Build Electronic Security, Emergency Mgmt Systems

M.C. Dean has secured a potential six-year, $98M contract to provide electronic security and emergency management systems for installation on shore facilities operated by the Department of Defense and U.S. federal government.

BGOV: Lockheed F-16, Raytheon Missile Tech In Demand Among Fiscal 2019 FMS Clients

The Raytheon-built (NYSE: RTN) AIM-120C-7 medium air-to-air missile and the F-16 fighter jet from Lockheed Martin (NYSE: LMT) were the most popular weapon systems the U.S. sold to allies in fiscal year 2019 through the foreign military sales program, Bloomberg Government reported Wednesday.