Rapid7 Acquires Ransomware Prevention Technology Company Minerva Labs
by Dan Kobialka • Mar 16, 2023
Rapid7, a cloud risk and threat detection solutions company, has purchased anti-evasion and ransomware prevention technology provider Minerva Labs for approximately $38 million in cash and stock.
This is technology M&A deal number 74 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Rapid7, founded in 2000, is based in Boston, Massachusetts. The company has 2,944 employees listed on LinkedIn. Rapid7’s areas of expertise include eXtended detection and response (XDR), security information and event management (SIEM) and vulnerability management.
Minerva, founded in 2014, is based in Petah Tikva, Israel. The company has 30 employees listed on LinkedIn. Minerva specializes in ransomware protection.
Rapid7 Bolsters MDR Capabilities
With the acquisition, Rapid7 customers can use Minerva’s technologies to orchestrate ransomware prevention, the companies stated. These technologies also expand Rapid7’s managed detection and response (MDR) capabilities across its customers’ cloud resources, IT infrastructure and endpoints.
Furthermore, Rapid7 remains focused on providing its customers and partners “with a world-class MDR service and the opportunity for further technology and security operations consolidation,” said Jeremiah Dewey, Rapid7’s SVP of managed services delivery. Organizations can use Rapid7’s MDR offering to detect, assess and respond to threats, and the company continues to explore ways to help its customers get the most value out of their security investments.
Rapid7 Partners with University of South Florida (USF) for Cybersecurity Research, Talent Development
The Minerva acquisition comes after Rapid7 in February 2023 reached an agreement with USF to create a cyber threat intelligence laboratory funded by a $1.5 million investment from The Rapid7 Cybersecurity Foundation.
This lab will perform cyber threat detection research and develop talent in cybersecurity, Rapid7 noted. It also will provide USF students with hands-on learning and cybersecurity skills development and allow them to get experience tracking global threat actors.
Rapid7 provides cloud risk management, threat detection and other security solutions to more than 10,000 organizations. It offers a partner program and has established over 20 technology partnerships to date.