Government Business
GlobeNewswire | January 09, 2024
On Monday January 8th, Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology-focused private equity firm, announced the acquisition of Cyberspace Solutions, LLC (“CSS” or “the Company”), a provider of all-source intelligence gathering, analysis, and systems development solutions for national security missions, by its intelligence, AI/ML, and Data Analytics platform, Crimson Phoenix. CSS was formerly owned by Illuminate Operations, Inc.
Chertoff Capital, LLC, the investment banking subsidiary of The Chertoff Group, served as the exclusive investment banking advisor to Illuminate Operations, Inc.
TRANSACTION DETAILS
CSS is a provider of all-source intelligence gathering, analysis, and systems development solutions, including data and analytical support services for the Intelligence Community and U.S. Special Operations Command. CSS combines decades of intelligence expertise to deliver actionable insights that enable its national security customers to make fast and informed decisions. The Company now joins with Crimson Phoenix to support its intelligence strategy and national security objectives.
Jason Kaufman, Chertoff Capital president said, “CSS is a trusted provider of all-source intelligence data and analytical support services for national security missions. The acquisition of CSS by Crimson Phoenix not only optimizes portfolio value for our client but also propels the Company towards a future marked by innovation and market leadership. We are pleased to have served as the trusted advisor to Illuminate and look forward to Crimson Phoenix’s future success.”
Ryan Hoffman, Chertoff Capital principal said, “CSS aligns perfectly with Crimson Phoenix’s national security objectives. It brings a talented workforce and coveted customer relationships to the platform. This transaction reflects our dedication to delivering strategic value for mission-oriented companies. We are thrilled to have advised Illuminate on the sale and are excited for Crimson Phoenix’s promising future.”
Tameika Hollis, CEO of Illuminate Operations, Inc., said, “Chertoff Capital provided excellent advice throughout the entire transaction process. They were instrumental in crafting a clear description of the value proposition of the business being divested, identifying the relevant set of potential suitors, soliciting interest, shepherding the process of selecting the acquirer, navigating the challenges of bringing the transaction to a successful conclusion, and ultimately finding a great new home for the business. We appreciate their hard work and wise insights.”
About Chertoff Capital
Chertoff Capital is the investment banking subsidiary of The Chertoff Group, a specialized advisory firm that helps organizations achieve their business and security objectives in a complex risk environment. As an industry leading investment bank serving high growth, mission-focused companies in the defense technology, government services and cybersecurity markets, Chertoff Capital provides clients with a highly differentiated advisory offering that brings together transaction expertise and unparalleled business strategy insights. Chertoff Capital professionals have advised on well over 100 transactions over the last 20 years. Chertoff Capital is an SEC registered broker dealer and a member of FINRA.
About Cyberspace Solutions
Cyberspace Solutions, LLC, is a leading provider of all-source intelligence, gathering, analysis, and systems development solutions for Intelligence Community, Defense, and Law Enforcement customers. CSS customizes solutions and provide actionable intelligence for targeting and other vital mission priorities.
About Crimson Phoenix
Crimson Phoenix is a leading digital, data, and intelligence analysis and solutions platform designed to support the critical mission requirements of the U.S. Intelligence Community and U.S. Special Operations Command. Headquartered in the DC/Virginia area, Crimson Phoenix offers a differentiated suite of mission-critical capabilities and solutions in artificial intelligence & machine learning, cybersecurity, digital and data enablement, software development, and intelligence targeting and analysis.
About Godspeed Capital Management
Godspeed Capital is a lower middle-market defense & government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations.
Read More
Emerging Technology
PR Newswire | January 09, 2024
InfoSec Global Federal, the leader in cryptographic vulnerability management, today announced the company has been added to the Department of Homeland Security (DHS) Continuous Diagnostics and Mitigation (CDM) Program's Approved Product List (APL). InfoSec Global Federal's AgileSec Analytics product helps U.S. federal agencies defend against the exploitation of cryptographic vulnerabilities. The inclusion of AgileSec Analytics to the APL strengthens national cybersecurity by protecting government agencies' most sensitive secrets and data from sophisticated attacks and breaches.
The Cybersecurity and Infrastructure Security Agency's (CISA) CDM program provides cybersecurity tools, integration services, and dashboards to participating federal agencies to help them improve the security posture of civilian government networks and systems by strengthening real-time risk monitoring and defense.
"The implicit trust of a privileged cryptographic ecosystem has resulted in the infamous SolarWinds hack and other high-profile attacks against federal agencies," said Philip George, Executive Technical Strategist of InfoSec Global Federal. "One aspect as to why these attacks were so successful can be directly attributed to poor visibility and analysis of privileged cryptographic assets, specifically certificates and tokens. Joining the APL underscores the value that InfoSec Global Federal's technology can deliver to reduce risk to critical federal infrastructure, a priority highlighted in OMB Memo 23-02, which requires federal civilian agencies to capture an inventory of all cryptographic assets in order to uncover vulnerabilities and to take immediate steps towards achieving post-quantum safety."
InfoSec Global Federal specializes in providing cryptographic discovery, remediation, and management solutions from the silicon firmware up through endpoint applications. Its secure software enables federal agencies to facilitate cryptographic vulnerability management, assure compliance, enrich software bill of materials with a cryptographic bill of materials (CBOM), and expedite post-quantum readiness in alignment with OMB Memo 23-02.
AgileSec Analytics offers essential tools for U.S. federal agencies aiming to enhance their cybersecurity and cryptographic posture. This solution is particularly crucial for conducting comprehensive cryptographic inventories, a vital process for government entities to deliver the following key advantages:
Enhanced Cryptographic Visibility: AgileSec Analytics empowers agencies with the ability to thoroughly scan their digital environments to identify and catalog all cryptographic assets. This includes keys, certificates, and cryptographic protocols deployed across various systems and networks.
Cryptographic Vulnerability Identification and Management: AgileSec Analytics assists agencies in pinpointing vulnerabilities within the cryptographic landscape. By analyzing the inventory, agencies can identify outdated or weak cryptographic practices, non-compliant assets, and potential areas susceptible to breaches.
Compliance with Federal Regulations: Aligning with mandates like OMB Memo 23-02, AgileSec Analytics aids agencies in ensuring that cryptographic assets adhere to federal cybersecurity standards. This compliance is critical for safeguarding sensitive government data and communications.
Preparation for Quantum Computing: As the threat landscape evolves with the advent of quantum computing, AgileSec Analytics positions agencies to be proactive. It helps in assessing the readiness of current cryptographic standards and facilitates a strategic shift towards quantum-resistant algorithms.
The inclusion of InfoSec Global AgileSec Analytics in the DHS CDM APL empowers federal agencies to conduct thorough cryptographic inventories, an integral part of maintaining a robust cybersecurity defense strategy.
About Infosec Global Federal
InfoSec Global Federal is a cryptographic security company that specializes in providing next-generation cryptographic discovery, agility, and management solutions from the firmware up through endpoint applications. Their secure software enables the management and agility of all cryptographic assets across a digital ecosystem, enabling government agencies to automate and orchestrate cryptography usage, shut down cryptographic vulnerabilities, facilitate compliance, and achieve post-quantum safety.
Read More
Government Business
PR Newswire | January 19, 2024
Permuta, a leading HR modernization and talent management software platform for Federal organizational readiness and operational excellence, announced today the release of its first ever SaaS product for DefenseReady with AI and Machine Learning capabilities, called DefenseReady Cloud.
The release comes after a decade of on-premise DefenseReady applications and two years after the release of a DoD ATO cloud-hosted IaaS option on IL5.
"DefenseReady Cloud provides DoD and approved civilian organizations the low code/no code SaaS/AI solution that ingests existing data sources, regardless of location, to provide a single pane of glass that informs leaders to make readiness decisions which will help our forces be stronger, safer, and our country more competitive," said Sig Behrens, Permuta's CEO.
"Our mission has always been to assist in putting the right people, in the right place, at the right time," said Behrens. "And now leadership can have the highest level of confidence on the DISA's approved Microsoft DoD tenant while saving operational costs."
"Microsoft is committed to helping the DoD use innovative technologies to meet their critical mission needs and working with key partners like Permuta enables us to innovate and scale solutions for our national security leaders," says Wes Anderson, Vice President for Defense, Microsoft. "This collaboration with Permuta on the DefenseReady cloud will enable Department of Defense leaders to make fully informed operational and readiness decisions with speed."
About Permuta
Permuta Technologies Inc., is a privately owned software manufacturer which creates off-the-shelf software which has been tailored for military and civilian organizations. With deep experience in the government, Permuta understands the challenges agencies face to protect and meet mission-critical initiatives. As a trusted leader in delivering solutions built and designed for government, Permuta is committed to increasing effectiveness and readiness so agencies can confidently execute their mission. Their products, built on Microsoft technology are the only solutions in the market that cover all federal readiness management needs in one system, including force readiness, training, performance and asset management, medical readiness, mission planning and more.
Read More