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Option3 Launches Zero Trust Cybersecurity Platform With Agreement to Acquire Onclave Networks

The acquisition, which is subject to shareholder approval, will be the first of many, expected to exceed $100M in the coming year, as the cybersecurity private equity specialist assembles a suite of Zero Trust capabilities on to a single platform.

NEW YORK, Jan. 26, 2024 /PRNewswire/ — Option3, a cybersecurity private equity specialist that combines national security heritage with longstanding investment expertise, announced today a platform that will accelerate the adoption of Zero Trust, a key component to hardening the nation’s cybersecurity. The platform will focus initially on the federal government and follows President Biden’s unprecedented Executive Order in 2021 mandating the government move to Zero Trust.

This announcement follows the unanimous approval by the Board of Onclave Networks to be acquired by the platform – paving the way for final shareholder consent. As a longtime investor in Onclave, with board seats, this acquisition is viewed as a strong vote of confidence in Onclave’s technology and strategic vision. “Onclave is a pioneering company in the cybersecurity space, has been a beacon of innovation in Zero Trust technology,” said Lisa Donnan, Option3’s Operating Partner. “This, and their customer pipeline have been instrumental in shaping the industry’s landscape.”

This move is part of a broader strategy to acquire Zero Trust companies with complementary capabilities that fit on a single unified platform. “Onclave is the first of a series of planned acquisitions already underway, that we expect will exceed $100M this year,” said Manish Thakur, Option3’s Managing Partner who added this acquisition strategy is not limited to emerging technology companies. “Option3 is also talking to established companies that can contribute to building a platform of scale, capable of delivering both comprehensive Zero Trust capabilities and aligned professional consulting services.”

Option3 believes the combination of new capabilities, particularly in the context of experienced operators who understand the federal customer will lead to development of entirely new capabilities. This includes what is believed to be the first Military Grade Zero Trust capability on the market, setting a new standard in cybersecurity technology.

Targeting the federal customer base, the platform’s scope is set to expand to aligned areas within the private sector including the defense industrial base and critical infrastructure areas.

“Option3’s efforts to modernize our nation’s cybersecurity capabilities are needed now more than ever before,” said Donnan. “There hasn’t yet been a cybersecurity provider capable of addressing the extraordinarily wide attack surface area or the diverse forms of protection needed to truly enhance our nation’s defense against those seeking to reduce our freedoms and diminish our strengths. This platform provides the systems in aggregate to address this critical and timely problem while remaining nimble to the current and future risks that face the warfighter on a daily basis.”

Through successive transactions set to close in the coming months, Option3’s will acquire specific technologies that seek to significantly harden U.S. national defense systems and provide the Department of Defense with access to a Military-Grade Zero Trust capabilities, in a dual-use approach bringing this level of security to the private sector.

About Option3
Option3 is a specialist cybersecurity private equity firm based in New York and Reston, Virginia that combines experience from the classified world of U.S. national security with decades of experience in investing, capital markets, and Mergers & Acquisitions. Since 2015, Option3 has invested in a variety of innovative companies across the cyber ecosystem, through a number of investment portfolios. With an in-house team of professionals that spans the C-suite, Option3 now seeks control positions in mid-market companies that it can help build into the champions of the future. Option3’s investment strategy is informed by its longstanding Technology Board, which spans the former Chief Information Officer of the CIA to the former CIO at Department of Defense, and a Capital Board of leading financiers. Option3 operates its Cyber TRUST index, one of the only equity indices comprised purely of companies engaged in cybersecurity. For more information, please visit www.option3.com.

SOURCE Option3

Originally published at https://www.prnewswire.com/news-releases/option3-launches-zero-trust-cybersecurity-platform-with-agreement-to-acquire-onclave-networks-302045739.html
Images courtesy of https://pixabay.com

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