Acquisition advances Cognyte’s US growth strategy and expands its global customer base
Cognyte Software Ltd. (NASDAQ: CGNT) (“Cognyte”), a global leader in software-driven technology for investigative analytics, today announced the acquisition of GroupSense, Inc. (“GroupSense”), a digital risk protection services company. The acquisition will help to expand Cognyte’s customer base and growth potential within the U.S. market, a pillar in the company’s overall growth strategy.
Cognyte has acquired GroupSense for approximately $4 million plus an earnout of up to approximately $5 million subject to GroupSense meeting defined targets post-closing.
Established in 2014, GroupSense helps customers protect digital assets and data from external cyber threats by using a combination of automated and human reconnaissance for cyber investigations to deliver customer-specific intelligence. Operating in the U.S., GroupSense offers solutions to customers that span state and local government agencies and a variety of enterprises.
As part of the overall growth strategy, GroupSense customers will have the opportunity to quickly adopt Cognyte’s advanced cyber threat intelligence platform to better protect their brand integrity and operational security in an increasingly hostile online environment.
“This acquisition reflects our continued focus on leading the investigative analytics market and expanding our footprint in North America,” said Elad Sharon, CEO of Cognyte. “The addition of GroupSense allows us to extend our market presence and deliver added value to their customers through our AI-driven technology, supporting their efforts to protect their brand and assets more effectively.”
“Joining Cognyte, a global leader in investigative analytics, with advanced technologies and strong R&D capabilities, is a major milestone for both our company and our customers,” said GroupSense CEO Kurtis Minder. “This acquisition enables us to grow our offering, streamline our operations and provide customers with solutions to help protect their digital assets and defend against an ever-evolving threat landscape.”
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