Tag Archive for: Goldman

Wall Street eyes cybersecurity, with Goldman Sachs announcing $125 million investment


Growing concerns over cybersecurity vulnerabilities in the United States are prompting record investments from firms to protect critical industries.

FBI Director Christopher Wray said last month that intelligence officials were “concerned” about the possibility of Russian cyberattacks against critical U.S. infrastructure in the wake of Russia’s war with Ukraine.

“The reason we’re concerned about it is not just based on our longstanding understanding of how the Russians operate, but it’s actually the product of specific investigative work and surveillance work that we’ve been doing all together,” Wray told an audience at the Detroit Economic Club in March.

Wray’s comments came a few weeks before Tuesday’s announcement that Goldman Sachs planned to expand its reach in supply chain cybersecurity, investing $125 million in a strategic partnership with a company that serves energy, government and aerospace and defense accounts.

Nikhil Gupta, a professor with New York University’s Tandon School of Engineering, who is affiliated with the NYU Center for Cyber Security, told ABC News the investment was part of a growing trend.

Over the past year, several private investment firms have invested hundreds of millions of dollars in cybersecurity. Former U.S. Treasury Secretary Steve Mnuchin’s Liberty Strategic Capital spent $525 million to acquire mobile security vendor Zimperium last month; Turn/River Capital acquired security policy management firm Tufin for $570 million earlier this month; and software security giant McAfee sold its Enterprise business to Symphony Technology Group for $4 billion dollars in March 2021.

Gupta noted that “more than 70% of manufacturing is conducted by actually small and medium-sized companies, and these companies don’t have resources to invest in upgrading their computers or, or implementing cybersecurity solutions.”

He added, “A lot of times they are manufacturing companies and…

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Goldman Sachs acquires cybersecurity firm White Ops



Cybersecurity firm White Ops has been acquired by multinational investment bank Goldman Sachs, in partnership with cyber solutions provider ClearSky Security and venture capital firm NightDragon.

The trio, led by Goldman Sachs’ Merchant Banking Division, have picked up White Ops from Paladin Capital Group, Grotech Ventures, and other shareholders. The terms of the transaction have not been disclosed.

White Ops hopes its new owners will support its next phase of growth and further accelerate its expansion into new markets.

“Goldman Sachs, ClearSky, and NightDragon are ideal partners to support the next phase of the Company’s evolution and growth across multiple markets, use cases and geographies,” said Tamer Hassan, CEO and Co-founder of White Ops. “Their continued support of our mission to disrupt the economics of cybercrime, global network of relationships, and market expertise provides a very strong foundation to execute on our vision to enable collective protection for the internet.”

In addition to Goldman Sachs representatives, Jay Leek of ClearSky and Dave DeWalt of NightDragon will join the White Ops Board of Directors.

The acquisition follows an initial investment in the company from Goldman Sachs and ClearSky earlier this year.

“We have been very pleased with the Company’s performance since our initial investment and we’re delighted to build on our current partnership, especially as White Ops continues to benefit from consumers’ shift to digital and clients increasingly require protection,” said Anthony Arnold, Managing Director at Goldman Sachs. “We look forward to supporting management in their next phase of growth.”

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This New Internet Security Tool Guards Goldman Sachs From Eavesdroppers – Wired

This New Internet Security Tool Guards Goldman Sachs From Eavesdroppers
Wired
When security researchers uncovered the Heartbleed bug, it underscored a big problem for companies that want to spread out on the internet without exposing their secrets: Even if they're using common encryption techniques to secure their data, their

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