Overview
Threatmodeler, a cybersecurity company based in New Jersey, is acquiring its largest competitor, IriusRisk, for over $100 million. This acquisition aims to enhance vulnerability detection for developers, addressing the growing risks associated with AI coding tools. The combined companies will have an annual recurring revenue of around $50 million and approximately 300 customers, primarily Fortune 1000 companies. The deal resolves prior litigation and allows Threatmodeler to integrate AI into its offerings more effectively.
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Investors: Invictus
Threatmodeler, a cybersecurity company based in New Jersey, is acquiring its largest competitor, IriusRisk, for over $100 million. This acquisition aims to enhance vulnerability detection for developers, addressing the growing risks associated with AI coding tools. The combined companies will have an annual recurring revenue of around $50 million and approximately 300 customers, primarily Fortune 1000 companies. The deal resolves prior litigation and allows Threatmodeler to integrate AI into its offerings more effectively.