Coalfire Announces Acquisition of Cyber Security Leader, Veris Group

The Carlyle Group and The Chertoff Group announced today that Coalfire, a leader in cybersecurity risk management and compliance services, has acquired Veris Group. The strategic acquisition creates one of the largest providers of cyber security services in today's market, and was funded in part by new equity investments by affiliates of Carlyle and Chertoff Group.

Combination Positions Coalfire with Unparalleled Cyber Risk, Compliance, and Technical Testing Capabilities

WESTMINSTER, CO –  Coalfire, a leader in cybersecurity risk management and compliance services, today announced that it has acquired Veris Group, a highly-regarded provider of cyber risk advisory, compliance assessment, technical testing, and engineering services since its inception in 2005. The acquisition further strengthens Coalfire’s leading position in the cyber security market and enhances Coalfire’s breadth and depth of services and industry knowledge in commercial markets and the public sector.

The combined entity becomes one of the largest providers of cyber security services in today’s market. Together, Veris Group and Coalfire represent:

  • The largest provider of advisory and certification services to the cloud service provider (CSP) market
  • The leading FedRamp third party assessment organization (3PAO), a service required of CSPs who want to do business with the U.S. Federal Government
  • One of the largest, most advanced, and industry-recognized technical testing teams
  • One of the top advisory and assessor organizations for the payment card industry  

Larry Jones, CEO of Coalfire, noted, “Our collective customers will have the advantage of a more comprehensive set of services focusing on assessing cyber risk and testing against real world threats, which will create a complete picture of possible vulnerabilities, threats, and gaps that could impact their business.”

“We are excited by the opportunity to join forces with Coalfire,” said Dave Svec, co-founder of Veris Group. “Together, we will be able to provide deeper insights into our customer’s security posture. The collective knowledge that our organizations have gained from over 15 years of research on cyber controls, more than 2,500 penetration tests, and over 3,000 customer assessments makes this union a game-changer for the cyber market. Combining with Coalfire also enables us to join in the partnership with The Carlyle Group, Baird Capital, and The Chertoff Group, benefitting from their collective support and specialized expertise.”

“Aligning with Coalfire brings together two very like-minded companies,” said Doug Greise, co-founder of Veris Group. “Both organizations are committed to product-agnostic services, cyber risk innovation, and providing the right people, process, and technology to help reduce risk and comply with regulations.” 

The acquisition was funded in part by new equity investments by The Carlyle Group’s U.S. Middle-Market fund and and affiliates of The Chertoff Group, highlighting both firms’ strong partnership with Coalfire management and continued support of Coalfire’s strategic growth and continued success.

 

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About Coalfire

Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, healthcare, retail, payments, and financial industries. Coalfire’s approach addresses each businesses’ specific vulnerability challenges, developing a long-term strategy to prevent security breaches and data theft. Coalfire has offices throughout the United States and Europe.

www.Coalfire.com

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