Verizon’s acquisition of ProtectWise Inc to advance network detection and response
Verizon Communications publicized that it has completed its acquisition of ProtectWise Inc. ProtectWise is a Colorado-based company which provides cloud-delivered Network Detection and Response. The terms of this acquisition were not revealed to the public. This deal will allow Verizon to develop its product offering in Network Detection and Response and bring additional capacity to the company. Furthermore, technologies which are utilized by ProtectWise will be incorporated into Verizon’s existing offerings.
Statement from Executive Director-Product Management and Development of Verizon
Alex Schlager, Executive Director-Product Management and Development of Verizon stated, “Integrating Protect Wise’s capabilities with Verizon’s leading global network services further enhances our ability to detect and respond to security threats.” Further he added, “In addition, as we rapidly expand our 5G footprint, increasing our capacity and capabilities in network detection and response will secure our customers as they adapt and expand with the next generation of connectivity.”
Statement from Co-Founder and CEO of Protect Wise
Scott Chasin, ProtectWise’s Co-Founder and CEO stated, “ProtectWise has dedicated the last five years to building a next-generation Network Detection and Response platform that’s been recognized as one of the leading technologies in the cybersecurity industry,” Further he added, “Our technology and the outstanding team behind it will be great assets to Verizon as the company expands its enterprise security offerings. We look forward to becoming a part of Verizon to deliver immediate value to our customers, partners and team based on the company’s strong security market presence and global reach.”
Previous Acquisitions of Verizon
Verizon previously acquired a few companies to expand its product offering in the country. In April 2018, Verizon closed its acquisition of Moment, a New York-based design and strategy firm founded in 2002 to create end-to-end customer experiences including in-store, online, mobile and live customer service by phone or chat.
Additionally, in the last quarter of 2018, Verizon acquired Precision Access solution and Software Defined Perimeter (SDP) related assets from privately held Vidder, Inc., a company offering trusted and unified access control. This move was made by Verizon to enhance enterprise virtualized secure networking services
