Fishtech Group, a provider of cloud-based cyber security services, on Monday said it has agreed to acquire Northern Virginia-based Haystax Technology in a deal that would give it a security analytics platform.
Missouri-based Fishtech said the acquisition will further its “data-driven security solutions” and extend the reach of Haystax beyond clients in the homeland security and public safety markets. Fishtech said it plans to “invest heavily in taking the new venture to market in the commercial enterprise space while enhancing its presence in federal, state and local government.”
A spokeswoman for Fishtech said the company’s primary customers are mid-market and enterprise organizations, primarily in health care, finance, retail and telecom.
Terms of the pending deal were not disclosed. Fishtech said that Haystax will remain in McLean, Va.
Haystax’s Constellation Platform provides advanced security analytics and risk management solutions. The company markets the platform for insider threat protection, continuous evaluation, and account compromise.
“The Constellation platform has proven itself to be a versatile and effective platform for insider threat, security operations center automation, and public safety,” Gary Fish, founder and CEO of Fishtech, said in a statement. “We look forward to working closely with the Haystax team to further enhance those capabilities and develop other applications for its use. Additionally, we’re pleased to gain access to the deep data science knowledge and capabilities of the talented Haystax team.”
Haystax has partnered with Fishtech since 2016. Fishtech said that once the deal closes, Fish will remain as CEO, while Pete Shah, Haystax’s chief revenue officer, will be chief operating officer.