The Washington Business Journal and Kansas City Business Journal are among the media outlets that have published in-depth reports on Fishtech Group’s acquisition of Haystax Technology, which was announced on May 21.
Spearheaded by CEO Gary Fish, a Kansas City-based entrepreneur, technologist and investor, Fishtech’s acquisition of Haystax “is a bid to bring advanced analytics and automation to commercial and government cybersecurity markets,” according to the Washington Business Journal. Fishtech plans to “invest heavily in taking the new venture to market in the commercial enterprise space, particularly heavily regulated industries such as finance and health care. It’s also planning to enhance Haystax’s presence in federal, state and local government markets beyond its roots in homeland security and public safety.”
In an interview with the Kansas City Business Journal, Fish said that “Haystax has a tremendous pipeline, tremendous people and a lot of momentum right now.” He also noted the Washington DC area company’s “tremendous intellectual property” that complements Fishtech’s data-driven security initiative.
In particular, Haystax mission fits well with Fishtech’s push to use “big data, sophisticated analytics, artificial intelligence and machine learning to disrupt the security integration market, where the big vendors are focused on-premises and in networks with well-defined perimeters,” the Washington Business Journal reported. “In an age of cloud computing and thousands of mobile endpoints, there’s no longer really a perimeter for an organization’s data, but there are reams of insights in that data to enhance an overall security posture.”
Haystax’s Haystax Analytics Platform flexes to and delivers a wide array of advanced security analytics and risk management solutions that enable rapid understanding and response to virtually any type of cyber or physical threats. Based on a patented model-driven approach that applies multiple artificial intelligence techniques, it reasons like a team of expert analysts to detect complex threats and prioritize risks in real time at scale for more effective protection of critical systems, data, facilities and people.
Fishtech “ended 2017 with 790 percent revenue growth, and the first quarter is up 380 percent over the same quarter last year,” the Kansas City Business Journal reported. The company (Kansas City headquarters pictured above) initially invested $4 million in Haystax in 2016 — the same year Fishtech started business — to help Haystax’s technology go to market. The acquisition is scheduled to be completed within a month, at which point Haystax will be a wholly owned subsidiary of Fishtech Group.
Besides the Washington Business Journal and Kansas City Business Journal articles, other publications and websites reporting on the Fishtech acquisition include: Defense Daily; MSSP Alert; M&A Navigator; and Crunchbase.
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NOTE TO OUR READERS: From June 4-7, the Fishtech-Haystax team will be out in force at the Gartner Security & Risk Management Summit. Stop by Booth 350 to hear more about the recent acquisition and our future plans for the Haystax platform.