Cipherloc, an encryption-as-a-service (EaaS) company, has acquired virtual CISO and cybersecurity services provider SideChannel for an undisclosed sum.
This is technology M&A deal number 490 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Cipherloc will integrate SideChannel's vCISO services into its EaaS portfolio, the companies said. It will use these services to help organizations take a multi-layered approach to secure their operations.
A Closer Look at SideChannel
SideChannel matches organizations with vCISOs, the company noted. From here, a vCISO can assess an organization's cyber risk and ensure it complies with cybersecurity regulations.
With SideChannel's vCISO services, the company uses a four-step process to help organizations develop and maintain a security program:
- SideChannel finds a vCISO based on an organization's needs and objectives.
- The vCISO assesses the organization's cyber risk, measures the effectiveness of its current security program and identifies security gaps.
- The vCISO develops a strategy to improve the organization's security posture.
- The vCISO offers ongoing cybersecurity tips and recommendations.
Along with its vCISO services, SideChannel offers various cybersecurity services, including:
- Cybersecurity Compliance
- Risk Assessments
- Third-Party Risk Management
- Virtual Privacy Officer
SideChannel provides its vCISO and cybersecurity services to organizations in energy, finance and other industries. It reported revenue of $2.6 million for the fiscal year ended Sept. 30, 2021, up 114 percent year over year.
What Does the SideChannel Acquisition Mean for Cipherloc?
SideChannel bolsters Cipherloc's portfolio and could help the company enhance its Enclave microsegmentation-as-a-service product.
Organizations can use Enclave to gain insights into their network communications and develop identity-based security policies, Cipherloc stated. In doing so, they can reduce their network attack surface.
Cipherloc specializes in "quantum-ready security" and helps organizations protect their data and minimize risk, the company said. The company does not offer a channel partner program but currently provides a waitlist for organizations interested in its EaaS offerings.
