Dell Sells Cybersecurity Division RSA Security
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RSA's relationship with the NSA has changed over the years. Reuters' Joseph Menn and cybersecurity analyst Jeffrey Carr have noted that the two once had an adversarial relationship. In its early years, RSA and its leaders were prominent advocates of strong cryptography for public use, while the NSA and the Bush and Clinton administrations sought to prevent its proliferation.
(RTTNews) - A consortium led by Symphony Technology Group, Ontario Teachers' Pension Plan Board and AlpInvest Partners have agreed to buy Dell Technologies' (DELL) cybersecurity division RSA in an all-cash transaction for $2.075 billion.
Expanding attack surfaces and increasing threat sophistication demand a modernized approach to cyber resiliency. Dell leverages the breadth and depth of its end-to-end IT ecosystem presence to develop cybersecurity solutions that are designed to provide confidence, control, and scale for your security posture.
Now, RSA will switch hands to STG, a private equity firm headquartered in Palo Alto, Calif. STG's portfolio includes several companies in data analytics and e-commerce software, but prior to the acquisition of RSA, the firm's presence in cybersecurity was limited to cyber risk vendor RedSeal.
\"Dell's vision is to be a provider of a broad swath of technology and services, from PCs, to storage, to software, to information security. RSA would have been a nice slice in that strategy, except that the RSA division has not been a fast-growing business for the Dell empire,\" she says. \"The Dell board is probably asking the executives to concentrate its efforts and to shed low-performing businesses.\"
\"This acquisition represents the end of an era. At one time it was thought that data center vendors should have a security arm. That concept appeared with Symantec acquiring Veritas and EMC acquiring RSA+SecurID, which it used to form the security division of EMC,\" says Richard Stiennon, chief research analyst at IT-Harvest. \"Most of us expected Dell to spin RSA off with the acquisition of EMC. Apparently it just took longer for Dell to realize that the fast pace of innovation in the security space does not jibe with the slow and steady pace of data center and hardware vendors.\"
The companies announced the deal, which includes the purchase of RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence, and RSA Conference, a week before the annual mega-cybersecurity conference kicks off in San Francisco on Feb. 24.
RSA has offerings spread across several disparate areas of cybersecurity. These include RSA Archer for governance, risk and compliance; RSA NetWitness for security incident event management and threat detection and response; RSA SecurID for identity and access management; and RSA Fraud & Risk Intelligence. The company is well known for its SecurID authentication tokens.
Dell Technologies has agreed to sell its RSA security division to private equity firm Symphony Technology Group in an all cash deal worth more than $2 billion, the companies announced Tuesday. The news comes on the eve of the annual RSA Conference, which is scheduled to kick off in San Francisco on Monday.
RSA is known for developing security software that supports governance, risk and compliance as well as advanced threat management. One of its best-known products is its SecurID multifactor authentication token. The company also hosts the annual RSA Conference in San Francisco, the world's largest cybersecurity event.
In its latest annual report published in March 2019, Dell noted that the company \"provides essential cybersecurity solutions engineered to enable organizations to detect, investigate and respond to advanced attacks, confirm and manage identities, and, ultimately, help reduce IP theft, fraud and cybercrime.\"
Dell did not break down RSA's revenue within its annual report, instead including the security division's revenue with other parts of the company in an \"other businesses\" column. In its own materials, RSA notes that it has about 30,000 customers worldwide.
STG has moved aggressively into cybersecurity in recent years, most notably purchasing Bedford, Mass.-based encryption pioneer RSA in September 2020 for $2.08 billion. The private equity firm was founded in 2002, and first got into cybersecurity with its April 2019 acquisition of network modeling and risk scoring platform RedSeal.
Serving as President of Cyber Risk at management consulting firm Kroll, Jason Smolanoff continues to raise the bar in risk assessment and digital security. Smolanoff is a highly decorated leader in the world of cybersecurity, boasting honors that include Outstanding Cyber Investigation by the Office of the Director for National Counterintelligence and commendations by the Los Angeles City Council and County Supervisor. Throughout his career, Smolanoff has led successful investigations into a vast array of digital criminal activities.
Previous positions held by Smolanoff include CEO at CISO Advisory & Investigations, and more than a decade as a supervisory special agent with the FBI. In addition to his many patents and his publications on cybersecurity in national periodicals, Smolanoff currently serves as commissioner of the San Manuel Gaming Commission. He earned a Bachelor of Science in chemistry from the State University of New York at New Paltz, and a Master of Science in chemistry from the State University of New York at Stony Brook.
Michael Coden serves as Managing Director of BCG Platinion, a part of The Boston Consulting Group, which is one of the largest and most prestigious consulting firms in the world. Recognized as an authority on protecting critical IT infrastructure, Coden joined BCG Platinion in 2016, bringing with him more than three decades of experience as a cybersecurity expert. In his current role, his responsibilities span cybersecurity strategy, organization, processes, technologies, and product R&D across all industries and public sectors.
Coden is also co-founder and associate director of the research consortium for cyber security at MIT Sloan. Among his numerous recognitions and awards, he received a letter of appreciation from the White House for his involvement in the USA NIST Cybersecurity Framework process. During his prolific career, he's published numerous scholarly articles and a book, appeared on radio and television, earned 16 patents on cybersecurity technologies, and has delivered over 150 invited lectures on cybersecurity and related topics. Coden holds a bachelor's degree in electrical engineering from the Massachusetts Institute of Technology, a master's degree in business from Columbia University, and a second master's degree in mathematics from NYU's Courant Institute of Mathematical Sciences.
Santah Subramoni is the Global Head of Cybersecurity Solutions for Tata Consultancy Services (TCS). The firm combines technical expertise and business intelligence to provide information technology services as well as digital and business solutions to a wide range of clients around the world. Subramoni is responsible for practice revenue growth, solutions, profitability and customer engagement in the cybersecurity space.
Sean Joyce is a Partner, Global & US Cybersecurity & Privacy Leader, at PricewaterhouseCoopers (PwC) United States. PwC is a global professional services firm specializing in accounting, auditing, assurance, and consulting. Joyce has provided strategic guidance and advised on incident breach response and cybersecurity to numerous clients in some of the most prolific cyber breaches.
Seasoned marketing and sales leader Jordan Kendall is President of Security Compass Advisory, a Toronto-based provider of cybersecurity solutions and advisory services. In this current role, Kendall leverages his wide range of proven proficiencies: marketing optimization, sales performance, account management, sales coaching, and market analytics.
For over two decades, Kendall has helped consulting professionals drive growth through client acquisition and market expansion. During his career he's worked with some of the biggest firms in the world, including Deloitte, PwC, AT&T Canada, and Sprint Canada. Most recently, Kendall was the chief operating officer of Aon's Cyber Solutions, a global cybersecurity consulting business providing a range of solutions. Before Aon, Kendall was the chief marketing officer at Stroz Freidberg, a leader in the investigations, digital forensics, and incident response fields. In 2020, Kendall founded Starman Cybersecurity to help security professionals compete, thrive, and stay focused on their missions. In 1996, Kendall graduated summa cum laude from the University of Toronto with a Bachelor of Arts. In addition, he's completed post-grad work at Syracuse University.
A seven-year veteran of the firm, Adante has served in a number of senior management roles, joining the firm from Accenture, where she spent eight years as a senior manager of capital markets. She previously served as VP of trading services for Instinet, director of trading services for Island ECN, senior market supervisor of fixed income trading for Eurex, and senior investigator for the Chicago Board of Trade. Adante also serves as Vice Chair on the board of directors for Girls Inc. of New York City. She holds a Master of Science in cybersecurity risk and strategy, a Master of Business Administration in finance and international business from Loyola University Chicago, and a Bachelor of Arts in economics from Miami University.
Eileen M. Boettcher is Vice President of Integration and Operations for MITRE National Security. The MITRE Corporation is a not-for-profit corporation that manages federally funded research and development centers across a broad range of fields, including aviation, defense, healthcare, cybersecurity, and homeland security. Responsible for developing and overseeing the implementation of operational policies and practices for the MITRE National Security Sector, Boettcher leads workforce engagement, program execution, financial management, and quality assurance initiatives in cooperation with the entire MITRE Corporation. 153554b96e