Goldman Sachs Becomes a Strategic Investor in LookingGlass Cyber Solutions
Threat intelligence solutions firm LookingGlass Cyber Solutions has acquired a threat intelligence platform developed by investment banking giant Goldman Sachs.
Called Sentinel, the platform was built by Goldman Sachs engineers and served as the firm’s in-house Security Information and Event Management (SIEM) to manage cyber threat intelligence.
Goldman Sachs has previously only been using Sentinel internally, but will now be further developed and sold by LookingGlass to the broader financial services industry and others.
Per the terms of the deal, Goldman Sachs is receiving equity in LookingGlass and a revenue share for Sentinel Product sales, a LookingGlass spokesperson told SecurityWeek.
LookingGlass, which has raised more than $100 million in funding, said it will incorporate the platform into its portfolio of threat intelligence-focused solutions.
“The financial services industry has traditionally led other sectors in building or buying cybersecurity tools to safeguard the corporate and customer information within their networks,” said Chris Coleman, CEO at LookingGlass. “The Sentinel platform is a leading example of a financial services company building an elegant solution to meet its unique needs and developing it into an industry-leading technology. As we worked with Goldman Sachs in discussing threats and intelligence-powered security operations, it quickly became apparent that acquiring Sentinel was a natural way to meaningfully advance the state of technology and help protect the wider financial services industry as well as other sectors facing greater cyber risk stakes.”
“Our engineers built Sentinel with the goal of developing a platform that spans the entire threat lifecycle and we have seen great success in its application and adoption by our threat intelligence, incident response, and security operations teams at Goldman Sachs,” Andy Ozment, Goldman Sachs’ Chief Information Security Officer and an overseer on the LookingGlass board of directors, said in a statement.
As part of the transaction, Rana Yared, Managing Director in the Principal Strategic Investments (PSI) group at Goldman Sachs, will be joining LookingGlass’ board of directors.
The Sentinel product acquisition is not the first by Arlington, VA-based LookingGlass.
In December 2015, LookingGlass acquired open-source threat intelligence firm Cyveillance for $35 million in cash. The company acquired botnet monitoring firm Kleissner and Associates in July 2015, and Deep Packet Processing (DPP) platform provide CloudShield in February 2015.
