Rapid7 acquires IntSights to enhance its XDR offering
Rapid7 announced it has acquired IntSights Cyber Intelligence Ltd., a leader in contextualized external threat intelligence and proactive threat remediation. Under the terms of the agreement, Rapid7 will pay approximately $335 million in cash and stock to acquire IntSights, subject to adjustments.
With digital transformation, the attack surface has increased exponentially making it an imperative for security teams to have early, contextualized threat detection across their internal and external environments. Yet most security teams are under-resourced and overburdened, inundated with a deluge of data from their own environment and struggling to identify what needs immediate action.
With the acquisition of IntSights, Rapid7 will combine its community-infused threat intelligence and deep understanding of customer environments with IntSights’ external threat intelligence capabilities. This combination is intended to provide customers with a unified view into threats, attack surface monitoring, relevant insights, and proactive threat mitigation for organizations of any size or level of security maturity.
This acquisition also enhances Rapid7’s cloud-native extended detection and response (XDR) offering, InsightIDR, by enabling high-quality, high-fidelity alerts to ensure efficient security operations, earlier threat detection, and accelerated response times.
IntSights enables organizations to gain the full benefits of a threat intelligence program, no matter the scope or sophistication, while also significantly reducing the workload on security teams. Unlike many other threat intelligence tools in the market today, IntSights is able to drive the productivity and outcomes that today’s security operations teams need by providing continuous coverage for external threats, from identification to mitigation to remediation.
Rapid7’s Insight Platform is one of the most comprehensive security operations platforms on the market today, with a broad set of best-of-breed capabilities across detection and response, vulnerability management, cloud security, application security and security orchestration and automation. In addition to enhancing its XDR offering and selling a standalone threat intelligence offering, the company intends to bring IntSights’ external threat intelligence capabilities into its platform to unlock faster threat identification and remediation across the company’s entire solution portfolio.
Foros acted as financial advisor to Rapid7.
“Cyber security is a lopsided battle today and the odds consistently favor attackers,” said Corey Thomas, chairman and CEO, Rapid7. “Both IntSights and Rapid7 have a shared belief that organizations will succeed only when they have a unified view of internal and external threats, complete with contextualized intelligence and automated threat mitigation which will allow security teams to focus on the most critical threats. We look forward to working with IntSights to make this vision a reality for our customers.”
“There’s no shortage of threat intelligence information available today, but much of it lacks context, creating too much alert noise and additional work for already overburdened security teams,” said Richard Perkett, senior vice president of detection and response at Rapid7. “By integrating IntSights’ external threat intelligence capabilities into Rapid7’s XDR solution, InsightIDR, we expect to provide security teams with expanded visibility and detections of internal and external threats across their traditional and modern environments—enabling them to quickly pivot into investigations, threat hunting and containment automation all within a unified experience.”
“We founded IntSights to make threat intelligence instantly accessible and actionable for organizations of any type or size,” said Guy Nizan, co-founder and CEO at IntSights. “We are excited to join Rapid7 to continue this mission and to bring our threat intelligence capabilities to even more customers.”
“With today’s sprawling attack surface and the sophistication level of threat actors, I can’t overstate the importance of a solid threat intelligence program,” commented Jon Oltsik, senior principal analyst and fellow at the Enterprise Strategy Group (ESG). “Threats can come from anywhere, which is why having visibility into your internal and external threat landscape is imperative. With the acquisition of IntSights, Rapid7 is well positioned to bridge the threat intelligence gap, giving customers the ability to identify real threats earlier and accelerate response and automate remediation.”
Preliminary second quarter 2021 results
Rapid7 also provided preliminary estimated Annualized Recurring Revenue (ARR) results for the second quarter ended June 30, 2021. Based on currently available information, Rapid7 anticipates ARR to end the second quarter 2021 at approximately $489 million, or growth of 29% year-over-year. In addition, Rapid7 anticipates revenue and non-GAAP income from operations for the second quarter 2021 to exceed the high-end of Rapid7’s previous guidance provided on May 6, 2021. The company will discuss full financial results on its second quarter earnings conference call on August 4, 2021.