Startups
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)

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.

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

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

Inside Maryland’s latest effort to support emerging businesses

A Baltimore entrepreneur’s new platform aims to topple tech silos

As a returning citizen, she experienced tech overload. Now she’s fighting to end the digital divide

This Week in Jobs: The kernel of a new career is in these 20 tech opportunities

Technically Media