Cybersecurity / InvestMaryland Challenge

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. (Photo courtesy of Sourcefire)

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 Baltimore reported.
Securis franchisees George Parks and Dan Dodd talked to 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.

Companies: Sourcefire / ZeroFox / Maryland Venture Fund / SafeNet / Venture for America / Cisco

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