Local software development firm HelpSystems announced Monday that it plans to acquire Clearswift, a UK-based cybersecurity company.
Clearswift's content-inspection platform enables information to be scanned as it enters or leaves the organization, allowing sensitive data to be securely transmitted via email or other web-based methods. It is used by more than 1,700 organizations in over 70 countries across a variety of industries, including finance, government, emergency services and national defense.
"The addition of the Clearswift solutions to HelpSystems' portfolio will provide customers with an expanded set of cybersecurity options that protect critical data and enable compliance with industry mandates such as PCI, GDPR, and HIPAA and help them stay on top of the shifting cybersecurity environment," HelpSystems CEO Kate Bolseth said in a statement.
Terms of the deal were not disclosed.
"We are confident we have found the perfect home for Clearswift and believe HelpSystems will continue to drive the products and business forward," Ciaran Rafferty, Clearswift managing director, said in a release.
Eden Prairie-based HelpSystems sells technology that businesses use to manage data centers, gather business intelligence and bolster IT-system security. The company was founded in the early 1980s and was sold in 2018 to California private equity firm HGGC for $1.1 billion. HelpSystems is currently the third-largest software development firm in the Twin Cities, according to Biz Journal research.
This is the second acquisition by HelpSystems this year. In February, it scooped up the Core Security division of Irvine, Calif.-based SecureAuth Corp.
