Rapid7 Acquires Minerva Labs
Rapid7 has acquired Minerva Labs , a startup that helps companies detect and block ransomware. The deal was announced on 15th March 2023, disclosing that it will pay about $38 million for Minerva. The company intends to finance the transaction with a combination of cash and stock.
Rapid7 products help organizations detect malware and vulnerabilities in their infrastructure. Alongside its software products, it offers a managed threat detection and response service. The service allows enterprises to have the company’s cybersecurity professionals monitor their networks for potential threats, as well as take remediate action when necessary.
Minerva offers a cybersecurity platform focused on detecting ransomware. The platform is used by hundreds of companies to protect more than 1.5 million systems.
Advanced ransomware strands actively hide their presence to avoid detection. After infecting a machine, some types of ransomwares can remain dormant for weeks or months before springing into action. In other cases, the malicious code deactivates itself when it detects the presence of antivirus software.
According to Minerva, its platform prevents ransomware from getting the impression that the coast is clear to activate. As a result, the malicious code stays dormant and data loss is averted.
Minerva blocks cyberattacks is by hiding sensitive files from programs that aren’t authorized to access them. Due to which it becomes more difficult for ransomware to find data that can be encrypted. Its platform creates a situation where the malicious code must either remain dormant or take steps that make it easier to detect.
Rapid7 will use Minerva’s technology to enhance its managed threat detection and response service. The technology will enable its cybersecurity professionals to detect ransomware more effectively in the customer environments they monitor for threats.
The acquisition of Minerva comes a few weeks after reports emerged that Rapid7 could itself be acquired. According to Reuters, the company has received takeover interest from multiple perspective buyers including private equity firms.