Eden Prairie-based software firm HelpSystems is buying Alert Logic, a Houston-based company that provides cybersecurity for cloud-based computer systems.
Eden Prairie's HelpSystems announces 10th acquisition in 15 months
The purchase of Houston-based Alert Logic will be the largest since HelpSystems bought GlobalScape for $217 million in July 2020.
March 11, 2022 at 2:14PM
This will be HelpSystems' 10th acquisition in the past 15 months. The company did not disclose the purchase price for Alert Logic but said it would be the largest since HelpSystems acquired GlobalScape for $217 million in July 2020.
The deal will extend HelpSystems' suite of IT options to the field of managed detection and response where Alert Logic is a well-known leader in the space, the company said.
"The speed of change in the cybersecurity environment requires HelpSystems to stay abreast of rapidly evolving macro trends and the tools and services our customers need to succeed," said Kate Bolseth, chief executive of HelpSystems, in a statement.
Information-technology professionals are hard to find and more companies are outsourcing IT functions so they can stay in compliance with industry requirements. Alert Logic has 4,000 customers and a global network of partners to keep up with changes.
"Our customers and global partner community trust us to help them achieve peace of mind in a swiftly changing, high-stakes environment rife with cyberattacks," said John Post, CEO of Alert Logic.
HelpSystems posted revenue of $550 million in 2021, up from $350 million in 2020 and $300 million in 2019. The deal for Alert Logic is expected to drive HelpSystems' annual revenue over $800 million and employees to over 2,800.
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