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Aug. 21, 2014 7:45 am

Sourcefire could be spared layoffs [Cybersecurity Roundup]

Also, Belcamp-based SafeNet, which protects 80 percent of intra-bank fund transfers, was bought out by a Dutch firm.

Martin Roesch, founder of Sourcefire, which Cisco bought last year in a multi-billion-dollar deal.

(Photo courtesy of Sourcefire)

cyber

The Maryland Venture Fund invested $451,000 in the Frederick startup Luminal, MDBIZ News reports. The investment is part of a $10 million round of funding for Luminal and was made with InvestMaryland funds, according to the report. Luminal develops security solutions for cloud-based applications.

The Dutch cybersecurity giant Gemalto bought Belcamp-based SafeNet in an $890 million deal, the companies announced last week. SafeNet has offices in 27 countries and protects 80 percent of intra-bank fund transfers. The company employs more than 1,500 people. The deal was completed in less than two months, the Baltimore Business Journal reports.

ZeroFOX is a top destination for this year’s Venture for America fellows. Ten of this year’s cohort of 15 are headed to the Federal Hill firm, as Technical.ly Baltimore reported.

Securis franchisees George Parks and Dan Dodd talked to Technical.ly Baltimore this week. The Baltimore franchise of the Virginia data destruction firm opened last month.

Cisco Systems’ focus on the cybersecurity sector could save Sourcefire from up to 6,000 company-wide layoffs, the Baltimore Business Journal reports. Cisco bought the Columbia firm last year in a $2.7 billion deal.

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Tyler Waldman

Tyler Waldman is lead reporter for Technical.ly Baltimore. A Towson University graduate and former local editor for Patch.com, Tyler has also written and photographed for publications including the Baltimore Brew, Howard County Times and Towson Times. He lives in Charles Village.

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