LookingGlass 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.