Deal strengthens ZeroFox’s External Cybersecurity Platform with industry-leading attack surface management (EASM) and threat intelligence capabilities
Today, ZeroFox (Nasdaq: ZFOX), an enterprise software-as-a-service leader in external cybersecurity announced a definitive agreement to acquire LookingGlass Cyber Solutions, Inc., a leader in external attack surface management and global threat intelligence. In today’s digital-first world, the rapidly expanding external attack surface has become a veritable playground for cybercriminals and nation-state actors alike, posing an ever-growing threat to enterprise and public sector organizations worldwide. Integrating LookingGlass’s industry-leading attack surface and threat intelligence capabilities into the ZeroFox External Cybersecurity Platform will enable our customers to build a robust security posture by providing world-class visibility into external attack surface assets and vulnerabilities, including improved actionable intelligence to disrupt emergent threats.
As organizations embrace digital transformation, the same externally-available digital platforms these organizations use to do business are equally available to malicious actors, creating new opportunities for exploitation. This escalating threat landscape underscores the urgent need for organizations to adopt comprehensive security strategies emphasizing proactive monitoring, continuous assessment, and remediation of their public attack surface vulnerabilities to defend against the mounting challenges of persistent cyber adversaries.
“The acquisition of LookingGlass is a natural extension of our strategy to provide our customers with a single end-to-end platform for protecting their external attack surface from increasingly sophisticated cyberattacks,” said James C. Foster, Chairman and CEO of ZeroFox. “We are bringing together passionate teams that have been partners for years, and proven world-class capabilities across attack surface management, digital risk protection, threat intelligence and breach response to continue our leadership in external cybersecurity.”
With one of the most comprehensive internet-facing attack surface intelligence data lakes, LookingGlass empowers public sector organizations, large enterprises, and industry security alliances at scale by providing extensive discovery, intelligence and cyber defense capabilities. These unique capabilities allow organizations to identify and assess threats in support of remediation strategies against the most sophisticated cyberattacks. The combination of intelligence and action enables some of the world’s largest organizations to inform their security teams about cyber risks ahead of full-fledged attacks.
“The mission at LookingGlass is to protect our customers by providing unmatched attack surface intelligence for global threat visibility and cyberattack disruption,” said Bryan Ware, CEO of LookingGlass. “Joining ZeroFox allows us to expand the capabilities we provide security teams to defend against cybercriminals and nation-state actors.” Ware, a cybersecurity industry veteran, former Assistant Director of CISA at the Department of Homeland Security, the Nation’s cyber defense operations lead, will join the ZeroFox executive team as part of the transaction.
Transaction Details
Under the terms of the agreement, ZeroFox will acquire LookingGlass for approximately $26 million, primarily in stock (9.4 million shares), combined with convertible debt and cash, subject to purchase price adjustments and performance earnouts. The acquisition is expected to close within the next 30 days. ZeroFox will provide additional guidance during the Q1 FY24 earnings call.
Stifel Financial Corp. served as exclusive financial advisor to ZeroFox on the transaction.
Investor Conference Call Information
ZeroFox will host a conference call to discuss the acquisition today April 17, 2023 at 8:30 a.m. Eastern Time. To access this call via webcast, please use this link: ZeroFox Business Update. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of ZeroFox’s website at https://ir.zerofox.com.
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