Darktrace in first acquisition since takeover as cloud security threats rise
Darktrace has announced its first acquisition since its recent takeover by Thoma Bravo in October, as it focuses on bolstering cloud security amid rising threats to cloud based operations.
The acquisition of the UK-based cyber provider Cado security comes as businesses are increasingly shifting operations to cloud-based systems, creating an urgent need for advanced cloud security.
This urgency has been reflected by an estimated 24 per cent increase in spending on cloud security last year, according to Gartner’s estimations.
This is the highest growth rate across all segments in the global security and risk management market.
Cado Security specialises in cyber incident responses and investigations for broader cloud environments.
James Campbell, one of the firm’s founders, previously led PwC’s cyber incident response service, while his co-founder, Chris Doman, created the threat intelligence platform ThreatCrowd.
This acquisition marks a key milestone for the cyber behemoth, following its integration into Thoma Bravo’s portfolio.
Through this move, Darktrace will enhance its capabilities in cloud-based protection, addressing the increasingly sophisticated cyber threats faced by modern organisations.
It also coincides with the firm’s efforts to deepen its leadership bench, after recently appointing Bryce Coté as its first CCO, and promoting both Phil Pearson to chief strategy officer, and Dan Monahan to chief partner and transformation officer.