Priya Patel
TLDR:
- NetSPI, a cybersecurity company based in Minneapolis, has acquired Virginia-based Hubble Technology Inc. to enhance its cybersecurity offerings.
- The acquisition, funded by a $410 million financing deal secured two years ago, aims to strengthen NetSPI’s monitoring of customers’ internal assets.
NetSPI, led by CEO and president Aaron Shilts, is focusing on proactive cybersecurity measures in light of recent high-profile data breaches. The company’s recent acquisition of Hubble Technology Inc. will provide a “cyber asset attack surface management” product to improve internal network monitoring. This marks NetSPI’s third acquisition in its 23-year history and the first involving a new piece of technology.
With a workforce of 650 employees across North America, the United Kingdom, and India, NetSPI used financing from investor KKR & Co. Inc. to complete the acquisition. The company primarily serves highly regulated industries such as financial services, insurance, and health care, with a significant presence in the banking sector.
Overall, the purchase of Hubble Technology Inc. underscores NetSPI’s commitment to proactive cybersecurity measures and enhancing its capabilities to protect customer assets from potential cyber threats.
