Enlightenment Capital backs IT security provider CyberCore
Enlightenment Capital has invested in CyberCore Technologies LLC, a security technology and services provider. CyberCore will use the investment to accelerate its plans to expand its capabilities and customer reach.
CyberCore, based in Elkridge, Maryland, provides (IT) services and security software technologies to both public and private sector clients. Founded in 2000, the company was previously backed by Roark Capital before it was acquired in 2011 by Moelis Capital Partners, which will remain invested in the company.
“CyberCore has a consistent track record of providing vital technology and services to some of the most demanding customers in the government space,” states Enlightenment Capital partner Jason Rigoli.
Enlightenment Capital is a middle-market private investment firm based in Chevy Chase, Maryland. The firm provides senior debt, mezzanine debt and equity financing to businesses involved in the aerospace, defense and government sector. Enlightenment Capital partners with management teams, equity sponsors and businesses that protect critical infrastructure, develop cyber and data technology, engineer aerospace systems and safeguard national security.
IT and data security has become pivotal as a tsunami of data piracy has victimized businesses across the board with data theft. The recent breach at Equifax, which exposed millions of consumers to potential fraud and has thrown the credit bureau's operations into turmoil, is but the latest high-profile example. In this environment, dealmakers are actively seeking to acquire security providers from the middle-market. Among recent developments, PCM Technology Solutions UK Ltd. bought The Stack Group; ManTech International Corp. (Nasdaq: MANT) acquired cloud service management provider InfoZen for $180 million; Honeywell International Inc. (NYSE: HON) purchased Nextnine; Open Text Corp. (Nasdaq: OTEX) bought Guidance Software Inc.; Zix Corp. (Nasdaq: ZIXI) acquired email encryption provider Entelligence Messaging Server; and Symantec Corp. (Nasdaq: SYMC) announced plans to buy Fireglass for undisclosed terms.