Booz Allen Hamilton announced that it has completed the acquisition of Tracepoint, a digital forensics and incident response (DFIR) company serving public and private sector clients. Booz Allen exercised its option to acquire the remainder of Tracepoint’s business after making an initial strategic investment in Tracepoint in January 2021. This transaction is part of a broader capital deployment strategy to accelerate Booz Allen’s entry and advancement in critical technology areas. Terms of the agreement were not disclosed.
Co-founded in December 2019 by Baton Rouge-based Plexos Group, Chris Salsberry, Brett Anderson, and Rob Driscoll and based in Fredericksburg, Virginia, Tracepoint is a recognized leader in DFIR, remediation, and cyber risk and resilience management. Tracepoint brings vast threat intelligence from its experience remediating the most pernicious tactics, techniques, and procedures deployed by advanced threat actors and specializes in helping cyber insurance carriers, lawyers, brokers, and their clients respond to cyber incidents.
Booz Allen intends to integrate its Commercial Cyber business and Tracepoint in early 2022 as part of its long-term growth plan to create a scaled business in three key areas: incident response, enterprise consulting, and managed services. The integration process will focus on creating opportunity and value for both organizations, accelerating growth, and increasing market share while preserving Tracepoint’s competitive agility and continuing to solve the world’s most complex cybersecurity challenges with the best cybersecurity talent.
“We see strong demand and a clear opportunity as organizations and governments around the globe face increasingly sophisticated cyber threats and believe this is the right time for us to further elevate our incident response capabilities and talent; this transaction aligns with that strategic approach,” said Horacio Rozanski, Booz Allen president and chief executive officer.
“Tracepoint has an exceptionally qualified team with strong brand recognition in the DFIR market and extensive relationships in its core sectors to expand our commercial offering and accelerate our growth,” said Bill Phelps, executive vice president and leader of Booz Allen’s commercial business. “We have a proven track record of successful collaboration with Tracepoint and will leverage the complementary strengths of both businesses to cement our status as a leading competitor in the global marketplace. I am excited to begin this new chapter of growth.”
“Today’s announcement is a testament to our team’s exceptional work in building Tracepoint into the industry leader that it is today,” said Chris Salsberry, Tracepoint’s chief executive officer. “Booz Allen has decades of experience working across the most significant breaches and clients and will provide strong foundations from which we can continue to grow and expand our business. We are thrilled to enter the market together as partners.”
Booz Allen retained Goldman Sachs & Co LLC as financial advisor for the transaction and King & Spalding LLP as legal advisor. Tracepoint retained Raymond James & Associates, Inc. as financial advisor and Holland & Knight, LLP as legal advisor.