Eden Prairie-based Fortra Buys a Piece of Boston Cybersecurity Firm
Fortra, the Eden Prairie-based cyber defense firm formerly known as HelpSystems, on Monday announced it has acquired the cloud security business of Boston-based Lookout Inc.
The business unit is primarily concerned with helping companies stay abreast of threats and attacks in the cloud. In a news release, Fortra CEO Matt Reck acquisition said the acquisition will create “one of the industry’s most complete cloud security solutions.”
The companies didn’t disclose financial terms of transaction.
“We know most organizations need some level of cloud security support, and we also know most organizations have been burned by overly complex [data loss prevention] deployments and a failure to detect real threats through the noise,” Reck said in the release.
According to a separate release issued by Lookout, Fortra will acquire “all assets, intellectual property, and personnel associated with” Lookout’s cloud security business. There will be 54 employees moving over to Fortra from Lookout as part of the acquisition.
This isn’t the first time the two cyber companies have done business together: In March, Fortra and Lookout formed a “strategic integration partnership” aimed at providing more comprehensive security coverage for customers.
Reck added that the acquisition “strengthens our cloud security capabilities and supports our strategic vision for continued focus on Fortra’s cybersecurity offerings.”
Until 2022, Fortra was known as HelpSystems. The company was originally founded in 1982 in Minneapolis as Help/38. As of 2022, the business had more than 3,000 employees, with additional offices in Europe and South America.
