Rapid7 Agrees to Acquire Cyber Asset Attack Surface Management Company, Noetic Cyber, to Give Customers More Comprehensive Visibility of Their Attack Surface
July 01 2024 - 4:01PM
Rapid7, Inc. (NASDAQ: RPD), a leader in extended risk and threat
detection, today announced it has signed a definitive agreement to
acquire Noetic Cyber, an innovator and a leader in cyber asset
attack surface management (CAASM).
The addition of Noetic’s CAASM solution to Rapid7’s existing
cybersecurity solutions will provide more comprehensive visibility
of a customer’s environment, including visibility into both
internal and external assets, on-premise and in the cloud. With
this, customers will be empowered to:
- More fully understand their attack surface with a high-context,
inside-out view and an adversary aware, outside-in view to
efficiently anticipate threats and manage risk
- Enable focused prioritization and fidelity with threat-aware
context to recognize the most acute risk signals and exposures
- Drive better signal-to-noise across security teams by
effectively and continually improving asset inventory and content
to reduce risk and build resiliency with pragmatic remediation
guidance and automation
- Create efficiency and productivity for security teams, giving
them highly correlated asset and resource views along with
searchable risk context
“Fragmented attack surface is stifling security productivity,
efficiency, collaboration, and credibility,” said Corey Thomas,
chief executive officer, Rapid7. “The addition of Noetic’s solution
to our platform positions Rapid7 to deliver the most productive
security operations experience while making it more accessible to
the teams who need it most.”
According to the 2024 Gartner® Innovation Insight: Attack
Surface Management report, “only 17 percent of organizations can
clearly identify and inventory a majority (95% or more) of their
assets.”1
“The addition of Noetic Cyber to Rapid7’s portfolio ensures even
more security teams can be confident they have the right visibility
of their security data,” said Paul Ayers, chief executive officer
and co-founder, Noetic Cyber. “Rapid7 customers will now be able to
better prioritize exposures based on the meaningful insights from
Noetic and take action to identify security gaps and reduce cyber
risk.”
Noetic Cyber was co-founded in 2019 by Paul Ayers, Allen Hadden,
and Allen Rogers to empower security teams to command their attack
surface. Noetic Cyber provides a proactive approach to cyber asset
and exposure management, empowering security teams to see,
understand, and fix their security posture and control drift.
Noetic Cyber’s goal has been to improve security tools and control
efficacy by breaking down existing data silos enhancing the entire
security ecosystem.
The acquisition of Noetic Cyber is expected to close during
Rapid7’s fiscal third quarter and is not expected to have a
material impact on the Company’s 2024 Annualized Recurring Revenue
(“ARR”).
Following the close of the transaction, Rapid7 is expected to
make Noetic Cyber capabilities available to its customers this
summer. To learn more about how Rapid7’s acquisition of Noetic
Cyber will benefit customers and to get notified as soon as the
solution is available, visit
https://www.rapid7.com/info/lp/request-caasm-demo/.
About Rapid7Rapid7, 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 11,000
global customers unite cloud risk management with threat detection
and response 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 X.
Cautionary Language Concerning Forward-Looking
StatementsThis press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but
are not limited to, the statements regarding the benefits of the
acquisition of Noetic Cyber Inc. (“Noetic Cyber”), the impact of
the transaction on the Company’s ARR for the year and timing of the
contemplated closing. Our use of the words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “will” and similar
expressions are intended to identify forward-looking statements.
The events described in our forward-looking statements are subject
to a number of risks and uncertainties, assumptions and other
factors that could cause actual results and the timing of certain
events to differ materially from future results expressed or
implied by the forward-looking statements. Risks that could cause
or contribute to such differences include, but are not limited to,
risks and uncertainties related to our pending acquisition of
Noetic Cyber, including the failure to satisfy any or all of the
closing conditions to the proposed transaction on a timely basis or
at all; costs, expenses or difficulties related to the acquisition
of Noetic Cyber, including the integration of Noetic Cyber’s
business; failure to realize the expected benefits and synergies of
the proposed transaction in the expected timeframes or at all;
failure to grow Noetic Cyber’s business at historical rates or at
all, or to expand its business geographically; the potential impact
of the announcement, pendency or consummation of the proposed
transaction on relationships with our and/or Noetic Cyber’s
employees, customers, suppliers and other business partners; the
risk of litigation or regulatory actions to us and/or Noetic Cyber;
inability to retain key personnel; changes in legislation or
government regulations affecting us or Noetic Cyber. For additional
information on other potential risks and uncertainties that could
cause actual results to differ from the results predicted, please
see our filings with the Securities and Exchange Commission (the
“SEC”), including our most recent Annual Report on Form 10-K filed
with the SEC on February 26, 2024, particularly in the section
entitled "Item 1.A Risk Factors," and in the subsequent reports
that we file with the SEC. Moreover, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for our management to predict all
risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those expressed in
any forward-looking statements we may make. Except as required by
law, we undertake no obligation to update any forward-looking
statements to reflect events or circumstances after the date of
such statements. You should, therefore, not rely on these
forward-looking statements as representing our views as of any date
subsequent to the date of this press release.
Rapid7 Media RelationsKelly CrummeyCorporate
Communicationspress@rapid7.com(617) 921-8089
Rapid7 Investor ContactElizabeth ChwalkSr.
Director, Investor Relationsinvestors@rapid7.com(617) 865-4277
1 Gartner, Inc., Innovation Insight: Attack Surface Management,
Mitchell Schneider et al, April 9, 2024
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