Today, Rapid7’s Managed Detection and Response (MDR) services provide customers 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. 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, organisations need to take a holistic and pragmatic approach to detection and response. 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.
“Driving efficiency and maximising security investments is critical in order for organisations to stay ahead of increasingly evasive and creative attacks,” said Jeremiah Dewey, senior vice president, managed services delivery at Rapid7.
“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.”
“Today is a monumental day for Minerva,” said Eddy Bobritsky, co-founder and CEO of Minerva Labs.
“We’ve worked tirelessly to create technology that combats ransomware and puts the power back in the hands of organisations. We are excited to join Rapid7 to continue this journey and integrate our technology into Rapid7’s industry-leading managed detection and response capabilities.”
Minerva Labs was co-founded in 2014 by Eddy Bobritsky and Erez Breiman to help organisations mitigate the risks associated with ransomware. Minerva’s technology provides multi-layer prevention by neutralising 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. The acquisition of Minerva is not expected to have a material financial impact to Rapid7’s Annualised Recurring Revenue growth, revenue, non-GAAP operating income, and non-GAAP net income per share for calendar year 2023, as guided on February 8, 2023.
Rapid7, Inc. (Nasdaq: RPD) is on a mission to create a safer digital world by making cybersecurity simpler and more accessible. We empower security professionals to manage a modern attack surface through our best-in-class technology, leading-edge research, and broad, strategic expertise. Rapid7’s comprehensive security solutions help more than 10,000 global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision. For more information, visit our website, check out our blog, or follow us on LinkedIn or Twitter.