ReliaQuest Buys Digital Shadows For $160M

June 2, 2022

ReliaQuest has entered into an agreement to acquire Digital Shadows, a company that delivers threat intelligence for security teams, for $160 million. The acquisition combines ReliaQuest’s ability to extend detection and response across cloud, network, and endpoint environments with Digital Shadows' digital risk and threat intelligence technology. This gives security operations teams the ability to detect and respond to threats with real-time internal and external visibility.

“Combining the internal visibility provided by ReliaQuest with the external threat intelligence and digital risk monitoring brought by Digital Shadows creates an end-to-end picture for enterprises around the world,” said Alastair Paterson, co-founder and CEO at Digital Shadows. “The complementary technical capability, shared cultural values, and geographic synergies offered by the combined companies make this a great opportunity for our customers and our partners.”

Security teams are stretched between investigating and responding to threats they can see while working to increase visibility across both security and business applications where they have limited visibility to detect and respond. The ability to extend and automate detection and response across both security and business applications is critical to a successful security program.

ReliaQuest and Digital Shadows will make security operations more effective by integrating the digital risk and threat intelligence that security leaders care about into a security operations platform that increases visibility, reduces complexity, and manages risk. The new offerings will drive down response time, provide context around threats and allow for an end-to-end view, all while decreasing the cost of visibility. Security operation teams can leverage automation with confidence to free up time to focus on the specific areas that matter the most.

“Alastair Paterson and James Chappell built a world-class team, technology, and culture in Digital Shadows and I am looking forward to our organizations working together to make security possible for organizations all over the world,” said Brian Murphy, founder and CEO at ReliaQuest. “The combination of ReliaQuest and Digital Shadows makes a lot of sense for our customers, our partners, and both of our teams. We have a responsibility and opportunity to leverage our collective expertise to continue to tackle what I believe to be the largest technical challenge of our generation, cybersecurity.”

ReliaQuest’s GreyMatter is a cloud native platform built on an Open XDR architecture, and delivered as a service, extending detection and response across a customer’s network, cloud, and endpoint for both security and business applications. Digital Shadows’ platform was built with today’s overloaded security analyst at heart, who demanded a more relevant and actionable approach to threat intelligence. The addition of Digital Shadows to ReliaQuest’s GreyMatter platform provides an important outside-in perspective to ReliaQuest’s already robust detection and response capability.

The transaction has received the approval of both companies’ Board of Directors and is subject only to customary closing requirements and regulatory approvals.