LevelBlue, a leading Managed Security Service Provider (MSSP) has announced it intends to acquire Cybereason, a cybersecurity vendor known for its extended detection and response (XDR) and Managed Detection and Response (MDR) solutions.
The acquisition will allow LevelBlue to integrate Cybereason’s XDR capabilities with LevelBlue’s own AI-powered MDR and incident response solution. Terms of the deal were not disclosed publicly.
“Joining LevelBlue marks an exciting new chapter for Cybereason,” said Manish Narula, CEO of Cybereason. “This acquisition strengthens our collective capabilities across XDR, MDR, offensive security, DFIR, and cybersecurity consulting services, enabling us to unlock additional value for our clients and their counsel and cyber insurance partners globally.”
This is LevelBlue’s third acquisition this year, after acquiring Trustwave and Aon’s Cybersecurity & IP Litigation Consulting Groups.
Cybereason was founded in 2012 and is headquartered in San Diego, California. The company has raised approximately $938 million to $970 million across multiple funding rounds and is estimated to employ up to 1,000 people.
LevelBlue (formerly AT&T Cybersecurity) was launched at the RSA Conference in 2024, as a joint venture between AT&T and the cybersecurity investment firm WillJam Ventures. LevelBlue offers cyber-consulting, managed security services, and threat intelligence.
Following its acquisition of Trustwave, a leading MDR provider, LevelBlue shot to become the world’s largest pure-play MSSP company. LevelBlue CEO and Chairman Bob McCullen was previously a co-founder CEO at Trustwave for more than 16 years.
“The addition of Cybereason is a strategic leap forward in our mission to become the most complete cybersecurity partner for our clients and strategic partners,” said McCullen, LevelBlue.
As part of the acquisition, LevelBlue will add SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital as investors.
Steven T. Mnuchin, former U.S. Treasury Secretary and Managing Partner of Liberty Strategic Capital, will also join LevelBlue’s board of directors.
“LevelBlue has rapidly established itself as a leader in integrated managed security services, and I look forward to helping guide its growth at a time when organizations worldwide are seeking trusted partners who understand the complexity of today’s threat landscape,” Mnuchin said.
This acquisition is the latest in a trend of consolidation setting the pace in the MSSP space.
