San Diego, CA and McLean, VA – December 8, 2022 – With the backing of Nautic Partners, Security On-Demand announced today it has acquired Booz Allen Hamilton’s (NYSE: BAH) commercial Managed Threat Services (MTS) business. MTS and Security On-Demand will operate as one unified organization and brand: DeepSeas.
Leveraging deep expertise that combines world-class cyber threat detection with industry-leading analysts, tailored threat intelligence, and accredited incident responders, DeepSeas is always on, always watching. With a combined track record of nearly 30 years of experience in cybersecurity, DeepSeas will offer its 300+ clients and new mid-market and enterprise customers advanced, integrated cybersecurity solutions across the enterprise’s attack surfaces.
The acquisition of MTS comes in an environment in which threat actors are continuously working to compromise organizations. Enterprise and mid-market clients struggle to attract and retain talent with the skills required to effectively deploy, integrate, and manage security solutions at scale to reduce risk of brand damage and/or intellectual property theft or destruction.
DeepSeas will offer clients industry-leading cyber threat detection, analytics, and data science, as well as expert workflow and intelligence across a variety of industries. Through Nautic Partners, the DeepSeas leadership team will have access to capital to enhance the DeepSeas platform and capabilities. Booz Allen and DeepSeas will maintain a strategic and close alignment that enables continued collaboration between the two companies in the commercial market.
In response to the forming of DeepSeas, Craig Robinson, research vice president, security services at IDC said, “Especially for growing mid-market companies, there is a need for broad cybersecurity services that extend beyond managed detection and response (MDR). There is an opportunity for a vendor, like DeepSeas, to package right-sized advisory, ongoing technical environment maturity, and advanced threat defense for the increasingly complex needs of mid-market businesses.”
“I am excited about the unique capabilities this combined team of experts brings to the market, as well as our plans to scale in a measured and meaningful way. We have the ability to deliver a deep, scalable cybersecurity platform in addition to the skills to help clients customize their security programs,” said Chris Esemplare, chief executive officer of DeepSeas.
Booz Allen Senior Vice President Wade Alt will join the DeepSeas leadership team as chief operating officer.
“This acquisition is a testament to the talent and achievements of Booz Allen and our MTS team. It creates exciting opportunities to serve clients in new ways across a rapidly expanding and extremely dynamic cyber market,” said Alt. “Together with Security On-Demand, we look forward to exposing our talent to new opportunities to deepen and expand their cyber skills. Our combined talent and offerings give DeepSeas customers a unique portfolio of solutions that enables us to protect their environments with industry-leading tradecraft, talent, and technology.”
“We are delighted to join together with the MTS team,” said Peter Bybee, vice president of strategy and founder of Security On-Demand. “Leveraging our complementary skills, advanced technical capabilities, and highly skilled workforces, we will further expand our differentiated solutions for clients as they navigate an increasingly sophisticated threat landscape.”
Named the most innovative global managed detection and response (MDR) service provider by Frost & Sullivan, MTS protects customers’ digital assets by patrolling and removing harm from their environments. By combining threat intelligence with MDR, MTS delivers actionable insights, 24/7 threat detection, investigation, and response enabled by a sophisticated, enterprise-ready security platform. This capability includes securing operational technology (OT) with the first-ever fully integrated IT/OT capability, while still ensuring OT threats are responded to according to the unique needs of the environment.
Booz Allen will continue to provide advanced threat intelligence, MDR, and other robust cyber solutions for its federal clients, as well as cyber consulting solutions for commercial organizations.
AGC Partners is serving as exclusive financial advisor to Booz Allen, and King & Spalding LLP is acting as legal counsel. Locke Lord is acting as legal counsel to Security On-Demand and Nautic Partners. Financial terms were not disclosed.