A cybersecurity company with Baltimore roots announced a major acquisition this week that will more than double its workforce.
Lookingglass, which has an office in Canton, acquired CloudShield from defense contractor Leidos (formerly SAIC). The deal was finalized Feb. 27.
Lookingglass makes a platform that helps businesses understand cybersecurity threats by compiling a “cybermap” of the internet. With CloudShield, the company gains an innovation known as “Deep Packet Processing,” which is designed to cut the amount of time it takes a client to root out a threat once it is detected.
CloudShield’s technology is open, which is unique in cybersecurity. So, along with speed, companies can also use the platform to improve what already exists. CloudShield was mainly used by government and defense-oriented businesses. But the open capability will allow Lookingglass to tailor the technology for its enterprise clients, said CEO Chris Coleman. Conveniently, the acquisition also means that all of CloudShield’s clients will be new business for Lookingglass.
“We don’t share many customers at all,” said Coleman. “Actually, we don’t share any customers.”
The acquisition will grow Lookingglass from 52 to 130 employees, and add offices in Sunnyvale, Calif., and Salt Lake City, Utah. The company has existing locations in Baltimore and Arlington, Va.
Coleman said Leidos started indicating they wanted to sell CloudShield last fall, and Lookingglass was eager to take advantage of the opportunity.
“There were other people in the hunt, but we were happy to come out on top,” Coleman said.-30-