Rapid7, Inc. (NASDAQ: RPD) announced it is buying Minerva Labs for about $38 million. These are the details.
Rapid7, Inc. (NASDAQ: RPD) announced it has acquired Minerva Labs, Ltd., a leading provider of anti-evasion and ransomware prevention technology. Today, Rapid7’s Managed Detection and Response (MDR) services provide customers with elevated detection and response capabilities across their cloud, on-premise, and extended attack surfaces. With this acquisition, Rapid7 will further extend its leading managed threat detection capabilities with the ability to orchestrate advanced ransomware prevention. And these new capabilities will seamlessly extend MDR across cloud resources, traditional infrastructure, and existing endpoint protection infrastructure, enabling customers to further consolidate their security investments.
With a growing attack landscape and the increasing pervasiveness of ransomware, organizations have to take a holistic and pragmatic approach to detection and response. And in order to achieve best-in-class threat detection, security programs will benefit from leveraging seamless access to telemetry across their attack surface and technology consolidation that drives more effective threat response.
Minerva Labs was founded in 2014 by Eddy Bobritsky and Erez Breiman to help organizations mitigate the risks associated with ransomware. And Minerva’s technology provides multi-layer prevention by neutralizing and preventing malicious activity before execution, while also enabling more agility to integrate with third-party endpoint protection solutions.
Under the terms of the agreement, Rapid7 will pay approximately $38 million in cash and stock to acquire Minerva Labs, Ltd., subject to certain adjustments. And the acquisition of Minerva is not expected to have a material financial impact on Rapid7’s Annualized Recurring Revenue growth, revenue, non-GAAP operating income, and non-GAAP net income per share for the calendar year 2023, as guided on February 8, 2023.
“Driving efficiency and maximizing security investments is critical in order for organizations to stay ahead of increasingly evasive and creative attacks. Today, our MDR customers benefit from our proprietary detection and response technology, a fully integrated, world-class team of 24×7 security engineers, and leading security data science to detect, assess and respond to emerging threats. With Minerva, we are further extending our MDR capabilities with more advanced anti-evasion and malware prevention and orchestration from the endpoint to the cloud, as well as providing seamless support of existing, leading endpoint protection infrastructure. We are thrilled to welcome Minerva to Rapid7 and continue providing our customers and partners with a world-class MDR service and the opportunity for further technology and security operations consolidation.”
- Jeremiah Dewey, senior vice president, managed services delivery at Rapid7
“Today is a monumental day for Minerva. We’ve worked tirelessly to create technology that combats ransomware and puts the power back in the hands of organizations. We are excited to join Rapid7 to continue this journey and integrate our technology into Rapid7’s industry-leading managed detection and response capabilities.”
- Eddy Bobritsky, co-founder and CEO of Minerva Labs