Security orchestration, automation and response (SOAR) software provider Swimlane has acquired Syncurity. The deal converges SOAR, incident response, case management, and managed security capabilities into a single business.
This is M&A deal number 181 that MSSP Alert and sister site ChannelE2E have covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall M&A activity remains reasonable steady. See the complete M&A deal list here.
Syncurity, founded in 2014, raised develops IR Flow. The incident response software is popular in such markets as health care and managed services, the buyer says. Key partners include Cyflare (a Top 200 MSSP), SentinelOne and Oracle Cloud.
Swimlane appeared prime for growth and well-positioned for M&A deals heading into 2020. The evidence: Swimlane in 2019 raised $23 million and also launched a channel partner program.
Swimlane Acquires Syncurity: Executive Perspectives
JP Bourget, founder, Syncurity
In a prepared statement about the deal, Syncurity Founder JP Bourget said:
“Swimlane has a track record of success in the SOAR market, as well as a clearly demonstrated dedication to the cybersecurity industry as a whole. Syncurity is thrilled to join the Swimlane team, and we look forward to continuing to provide our customers with access to innovative solutions and deep domain expertise.”
Added Swimlane Co-Founder and CEO Cody Cornell:
“In a time of uncertainty, being able to ensure business continuity—especially from a cybersecurity perspective—is crucial. I’m excited to have the Syncurity team and customers join Swimlane and continue our work to make the lives of security operations teams better. Swimlane’s mission is to solve the problems facing security teams with a unified defense platform that enables individuals and teams to do more with less, and now we can deliver that value to an even larger customer base.”
SOAR Market Forecast: Opportunities, Challenges, Rivals
Demand for SOAR solutions is strong and growing. The global security orchestration automation and response (SOAR) market is expected to reach $2.3 billion by 2025, generating a 16.3% CAGR (compound annual growth rate) during the forecast period, Markets and Markets predicts.
Still, the SOAR market is crowded with home-grown solutions and M&A-driven business offerings. Example SOAR M&A moves include:
- December 2019: Fortinet acquired CyberSponse.
- February 2019: Palo Alto Networks acquired Demisto.
- January 2019: Sophos acquired DarkBytes.
All three of those cybersecurity companies have large, entrenched MSP and MSSP partner ecosystems.
