Rapid7 Buys Anti-Ransomware Firm Minerva Labs for $38 Million
Security operations heavyweight Rapid7 on Wednesday announced a deal to acquire Israeli anti-ransomware startup Minerva Labs as part of plans to beef up its managed detection and response portfolio.
The Boston-based Rapid7 said it spent $38 million in cash and stock to snap up Minerva Labs, an early-stage startup that raised $7.5 million venture capital funding.
The Tel Aviv company was backed by StageOne Ventures, Amplify Ventures and Webb Investment Network.
Minerva Labs built and sold technology to help small- and medium-sized businesses handle ransomware protection, exploit mitigation, critical asset protection and browser isolation.
Now, Rapid7 says Minerva’s technology will be fitted into its Managed Detection and Response (MDR) services to beef up detection and response capabilities across cloud, on-premise and extended attack surfaces.
In a statement, Rapid7 vice president Jeremiah Dewey said the Minerva Labs anti-ransomware product will handle anti-evasion and malware prevention and orchestration from the endpoint to the cloud.
Rapid7 has been active on the acquisition front recently, spending $335 million to purchase threat intelligence firm Intsights, and $145 million in a deal to buy DivvyCloud.
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