Jacksonville-based Quadrant Information Security announced its recent acquisition by Worklyn Partners for an undisclosed amount.
The cyber defense firm specializes in managed detection and response and is the first acquisition for Worklyn after it completed its initial funding round in January for $35 million. At the time of the announcement, Worklyn said it was eyeing two acquisitions in the cyber security industry.
“Cybersecurity software and tooling is important, but most businesses need outside experts and outsourced service providers to truly get the most out of their tools and 24/7 security monitoring to prevent or at least minimize the impact of cyber attacks,” said Zack Miller, partner and co-founder of Worklyn Partners. “Given the national shortage of cybersecurity talent and the growing prevalence of cyber threats, we don’t think this reality will change any time soon. The Quadrant team has built a phenomenal software platform, but above all, they are a talented, high-integrity team.”
Serving as the centerpiece for Worklyn’s cybersecurity platform, Quadrant will leverage the growth equity investment to build out its expert team of security analysts, engineers, developers, and consultants, according to a joint statement.
“We couldn’t be more optimistic about our partnership with Worklyn and the years ahead of us,” Quadrant President and CEO Ian Bush said. “The Quadrant brand was started over ten years ago, with a heavy focus on our Sagan platform and supporting SOC service. This new relationship will provide the resources necessary for the continued development of our existing offerings, as well as new security services slated for future release.”
Quadrant said it has experienced significant growth over the past five years and serves customers of various sizes across the country, from large enterprises to smaller businesses ranging across all verticals, from hospitals to technology companies. Within the $150 billion global cybersecurity market, Quadrant competes primarily in the managed detection and response segment, which it is expecting to grow at over 20% per year over the next five years.
