The U.S. Department of Defense (DoD) Office of the Inspector General (OIG) has launched an audit to find out if the proper processes were followed in relation to federal contracts awarded to endpoint security and systems management provider Tanium, according to a prepared statement. OIG's audit comes after Tanium and channel partner World Wide Technology (WWT) in October were awarded a $750 million-ceiling contract open to all federal agencies.
OIG initiated its audit last month after it received a tip via the DoD's hotline, Bloomberg reported. It is auditing the U.S. Army, U.S. Air Force and Defense Innovation Unit Experimental (DIUx).
Tanium is not involved in the OIG audit, a company spokesperson told Bloomberg. OIG is reviewing federal procurement processes rather than vendor actions, the spokesperson noted, and Tanium is "confident" that its portion of all transactions has been conducted appropriately.
TPG Growth, an American investment firm, last month invested $175 million in Tanium, Reuters reported. The deal represented TPG's third investment in Tanium and raised the company's total valuation to approximately $5 billion.
Tanium is considering an initial public offering (IPO), according to Reuters. It also may sell $25 million of additional stock to existing investors besides TPG.
What Is Tanium?
Tanium was founded in 2007, and today, provides computer system security and management products for government agencies and companies. In addition to federal agencies, Tanium customers include 12 of the top 15 U.S. banks and six of the top 10 U.S. retailers, the company said in a prepared statement.
The Tanium 2017 fiscal-year roadmap includes additional investments in its IT operations products and modules and increased commitment to growth in the federal, finance, retail and healthcare sectors, the company stated. Furthermore, Tanium plans to bolster its presence in manufacturing and media and explore international growth opportunities in the EMEA and Asia-Pacific regions.
