Verizon Buys ProtectWise for Cloud-Based Security Smarts
NEW YORK -- Verizon Communications Inc. today announced that it closed its acquisition of ProtectWise, Inc., a Colorado-based company which provides cloud-delivered Network Detection and Response. This acquisition allows Verizon to expand its product offering in Network Detection and Response and bring additional talent to the company.
"Integrating ProtectWise's capabilities with Verizon's leading global network services further enhances our ability to detect and respond to security threats," said Alex Schlager, executive director, product management and development, Verizon. "In addition, as we rapidly expand our 5G footprint, increasing our capacity and capabilities in network detection and response will secure our customers as they adapt and expand with the next generation of connectivity."
“ProtectWise has dedicated the last five years to building a next-generation Network Detection and Response platform that’s been recognized as one of the leading technologies in the cybersecurity industry,” said Scott Chasin, ProtectWise CEO and Co-Founder. “Our technology and the outstanding team behind it will be great assets to Verizon as the company expands its enterprise security offerings. We look forward to becoming a part of Verizon to deliver immediate value to our customers, partners and team based on the company’s strong security market presence and global reach.”
Technology from ProtectWise will be integrated into Verizon’s existing offerings. Terms of the transaction were not disclosed. DBO Partners acted as the financial advisor to ProtectWise.