Booz Allen Hamilton [BAH] on Monday said it has acquired Tracepoint, a cybersecurity company with deep expertise in digital forensics and incident response, providing an opportunity to accelerate its business with the private sector for cybersecurity services.
Terms of the deal were not disclosed. Booz Allen in January announced it had made a strategic investment in Tracepoint, which has about 100 employees and is based in Fredericksburg, Va.
Booz Allen plans to integrate Tracepoint into its Commercial Cyber business in early 2022, part of a long-term growth strategy to create a scaled business in incident response, enterprise consulting and managed services.
“Tracepoint has an exceptionally qualified team with strong brand recognition in the DFIR (digital forensics and incident response) market and extensive relationships in its core sectors to expand our commercial offering and accelerate our growth,” Bill Phelps, executive vice president and leader of Booz Allen’s commercial business, said in a statement. “We have a proven track record of successful collaboration with Tracepoint and will leverage the complementary strengths of both businesses to cement our status as a leading competitor in the global marketplace.”
A spokeswoman for Booz Allen told Defense Daily the acquisition boosts the Booz Allen brand in the DFIR market and increases its relationships with “leading law firms and insurance carriers.” She added that “There is a compelling market opportunity in the cybersecurity space, with extraordinary demand stemming from the growing number of sophisticated cyberattacks, and we believe this is the right time to further elevate our incident response capabilities.”
Tracepoint’s leadership and management team remains unchanged, Booz Allen said. The company was co-founded in December 2019 by Louisiana-based Plexos Group, which helps develop new companies through strategic investment and management support, and Tracepoint’s senior leaders, Chris Salsberry, Brett Anderson, and Rob Driscoll.
Booz Allen’s financial adviser on the deal was Goldman Sachs and Tracepoint was advised by Raymond James & Associates.