(Photo courtesy of MDBizNews)
An SEC filing issued by Raytheon last week revealed the price of the acquisition deal for Federal Hill–based RedOwl that was announced in August.
Forcepoint, which is a subsidiary of Raytheon, acquired RedOwl for $54 million in cash, according to the filing. The purchase price did not include retention payments, the filing states. The price was first reported by CityBizList.
The filing states RedOwl will be integrated into the company to “expand and enhance Forcepoint’s strategy to deliver cybersecurity systems that help customers understand people’s behaviors and intent as they interact with data and intellectual property wherever it may reside.”
RedOwl, which was one of a number of startups to congregate around the intersection of Light and Cross St. in Federal Hill around 2012, raised $24.45 million, according to Crunchbase, including a $17 million Series B round in 2015.
When the acquisition was announced in August, a Forcepoint spokesman said RedOwl’s Baltimore office would remain. RedOwl cofounder Guy Filippelli became a vice president with Forcepoint, and called the acquisition a “great day” for Baltimore.
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