Qmulos | May 23, 2022
Qmulos, a pioneering cybersecurity software and professional services firm driving the Converged Continuous Compliance revolution in enterprise security, compliance and risk management automation, today announced a strategic growth investment from PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. Financial terms were not disclosed.
In today’s cybersecurity environment, agencies and enterprises are facing countless security threats amidst a growing array of regulatory requirements. Qmulos leverages full-cycle, data-centric compliance automation to assist public-sector agencies, government contractors and commercial enterprises to enable initiatives to transform inefficient and ineffective legacy processes into modern, streamlined risk management programs capable of dealing with the complex and evolving global cyber risk challenges. Leveraging diverse sources of enterprise security and compliance data through its partnership with Splunk, a leading big data security analytics platform, Qmulos supports evidence-based risk management decisions by providing real-time insights on overall enterprise risk posture.
The Qmulos platform enables customers to continuously monitor security controls to meet compliance requirements across a wide spectrum of regulatory frameworks, including but not limited to:
NIST CSF (National Institute of Standards and Technology Cyber Security Framework) and NIST SP 800-53
CMMC (Cybersecurity Maturity Model Certification)
HIPAA (Health Insurance Portability and Accountability Act)
SOX (Sarbanes-Oxley Act)
ICS 500-27 (Intelligence Community Standard for Enterprise Audit)
In the federal ecosystem, the Qmulos automated compliance technology has proven to be valuable for both government agencies and their partners in ensuring adherence to critical security compliance regulations, most notably NIST and CMMC. In the private sector, a growing list of enterprises are relying on the Qmulos platform to drive timely and accurate risk visibility while reducing time-to-compliance lag and increasing their competitive advantage through accelerated third-party risk accreditation.
We’re proud to offer a solution to improve operational security while simplifying time-consuming and costly IT compliance tasks. We look forward to partnering with PSG as we aim to serve more organizations with a commitment to continuing the evolution of our platform to meet our customers’ dynamic needs.”
Matt Coose, Founder and CEO of Qmulos
“Today’s challenging risk landscape and regulatory environment underscores the clear need for innovation in security and compliance. We believe that Qmulos’ ability to monitor controls in an automated and continuous manner ultimately creates a more secure environment while creating significant operational efficiencies for its customers,” said Rick Essex, Managing Director at PSG. “We’re thrilled to partner with Matt and the rest of Qmulos’ talented team as they continue to address the significant opportunity to shape the future of risk management.”
“From our point of view, companies and institutions must begin the transition away from traditional, manually intensive and often error-prone compliance programs,” commented Bill Ballhaus, Senior Advisor1 to PSG. “We believe Qmulos’ technology provides a predictive, data-forward solution to aid this transition, and we’re excited to work with the team to bring this solution suite to a broader range of security professionals.”
AGC Partners served as financial advisor to Qmulos, and Foley and Lardner LLP served as legal advisor to the company, with additional support from Badger CPA and Aronson LLC. Latham & Watkins served as legal advisor to PSG and Ernst & Young served as the firm’s financial advisor.
Qmulos is a pioneering integrated compliance, security and risk management automation provider delivering the innovative power of Converged Continuous Compliance through its flagship Q-Compliance and Q-Audit technology platforms. Qmulos enables organizations to achieve high compliance confidence while delivering a powerful and engaging compliance experience across all functions and phases of the enterprise compliance lifecycle. Founded in 2012, Qmulos works with public and private sector enterprises to empower and accelerate their strategic transformation towards automated continuous monitoring and real-time risk visibility across nearly all systems, all Splunk-compatible data sources, and current and emerging cybersecurity and professional services compliance requirements.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv.
Citizens Financial Group | March 25, 2022
Citizens Financial Group, Inc. and Investors Bancorp, Inc. announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the previously announced acquisition of Investors.
The acquisition is anticipated to close by mid-April 2022, pending satisfaction of customary closing conditions. After closing, over the course of 2022, Citizens will provide Investors’ customers with comprehensive information relating to the anticipated conversion of their accounts to Citizens, targeted to be completed in the first quarter of 2023. Until conversion, customers will continue to be served through their respective Citizens and Investors branches, websites and mobile applications.
We are pleased to have received regulatory approval to complete the acquisition of Investors, which closely follows the acquisition of HSBC’s East Coast branches. The addition of these two businesses strengthens our franchise across the Northeast, significantly adding to our growth potential. We have been carefully planning for a successful integration to ensure that we continue to provide excellent customer service while making a strong entrance into the New York City metro and New Jersey regions.”
Bruce Van Saun, Chairman and Chief Executive Officer of Citizens
“We are excited about the planned merger with Citizens. Our customers, colleagues, communities and stockholders will benefit from Citizens' scale, capabilities and commitment to excellence,” said Kevin Cummings, Chairman and Chief Executive Officer of Investors.
Key members of Investors' management team are expected to join Citizens, ensuring business and client continuity. Upon closing of the transaction, Mr. Cummings and Michele N. Siekerka, who currently serve on the board of directors of Investors, are expected to join Citizens’ board of directors. Domenick Cama, Investors’ President and Chief Operating Officer, will join Citizens as the New York City and New Jersey Market President and Co-Head of Integration.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $188.4 billion in assets as of December 31, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of nearly 3,000 ATMs and more than 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.
About Investors Bancorp, Inc.
Investors Bancorp, Inc. is the holding company for Investors Bank with assets of approximately $28 billion as of December 31, 2021 and operated from its corporate headquarters in Short Hills, New Jersey and 154 branches located throughout New Jersey, New York and Pennsylvania.
Iron Bow Technologies | April 28, 2022
Iron Bow Technologies, an information technology solutions provider to government, commercial, education, and healthcare markets, announced that the Washington Business Journal ranked the company as #25 of the Largest Government Contractors in Greater D.C.
With over 30 years of experience working with Federal clients, Iron Bow partners with government agencies to design, develop, and deploy modern technologies to enable their digital transformations. Specifically, Iron Bow helps its clients by bringing a holistic approach to technology infrastructure with expertise in cloud and IT modernization, unified collaboration and workforce experience solutions, digital transformation, and cybersecurity.
We work to deliver solutions that not only meet agency needs today, but also for the future including securing and enabling a dispersed and remote workforce. We’re grateful for the recognition and excited to continue supporting our customers within the Federal Government as well as state and local governments.”
Rene LaVigne, President and Chief Executive Officer of Iron Bow
About the Washington Business Journal
The Washington Business Journal provides breaking news on the latest events in the surrounding Greater D.C. Area. Washington Business Journal’s Book of Lists provides readers with more than 1,000 of the hottest area companies in their fields, by ranking.
About Iron Bow Technologies
Iron Bow Technologies is a leading IT solutions provider dedicated to successfully transforming clients' technology investments into robust business capabilities across the government, commercial, education, and healthcare markets. The Iron Bow team brings a depth of technical expertise and domain knowledge to deliver the right solution and ensure successful business outcomes. Iron Bow's global reach and strategic partnerships with industry leaders and disruptive technology partners empower clients to implement the latest cutting-edge technology to support mission-critical objectives.
Ardalyst | March 02, 2022
Following a series of high-profile cyber breaches, the Biden administration issued an Executive Order (EO) in May 2021 to strengthen cybersecurity across the federal government. In February 2022, the Office of Management and Budget (OMB) released the "Moving the U.S. Government Toward Zero Trust Security Principles" memo. It lays out strategic goals to move the federal government to a Zero Trust Architecture and requires agencies to develop a plan to implement zero trust architecture with each agency being required to designate a Zero Trust lead.
Ardalyst is proud to announce a concerted effort – relying on collaboration with partners at Mandiant and Microsoft – to deliver an All-Threat™ Strategy approach to Zero Trust Architectures as a means of assisting government agencies and federal contractors in achieving cyber resiliency.
This effort will establish a Zero Trust-based security system, recognizing that security systems themselves can be breached.
The EO makes clear that Zero Trust tenets will be built into any software the federal government acquires or that its contractors use. The EO mandates a review of the Federal Acquisition Regulation (FAR) to accomplish that. Changes to FAR and likewise, DFARS, mean that to continue to do business with the DoD, defense contractors will need to incorporate Zero Trust Architecture into their communication and collaboration platforms.
Agencies are now required to achieve specific zero trust security goals by the end of Fiscal Year (FY) 2024. It applies across the five pillars – Identity, Devices, Network, Applications and Data.
The Ardalyst All-Threat™ Zero-Trust Architecture is an intelligence-led approach to protecting your organization against all tiers of cyber threats in an assumed hostile environment.
The All-Threat offering is a wholistic approach that integrates inferred system-integrity checks and balances between Microsoft's Zero Trust Architecture, Endpoint Security and Mandiant's Threat Intelligence to create a layered security environment that is resilient against different tiers of adversarial threats.
Ardalyst is based in Annapolis, Md. By partnering with our customers to truly understand their unique environment and cybersecurity posture, Ardalyst leverages decades of experience and expertise in cyber operations and resiliency engineering to deliver a comprehensive cybersecurity program that is cost-effective, aligned to your mission and guaranteed to meet your compliance requirements. We replace uncertainty with understanding.