Local cybersecurity company The Denim Group has been acquired by Colorado-based Coalfire, the companies announced on Tuesday morning.
Terms of the acquisition were not disclosed. Denim Group will remain in San Antonio, a spokesperson for Coalfire said. The company is keeping all employees on staff and moving forward with the continued leadership of Denim Group’s Principals John Dickson, Dan Cornell, and Sheridan Chambers.
“Together, our combined teams represent one of the largest, most advanced, and industry-recognized cloud and application security solution providers,” Dickson said.
Coalfire will combine Denim Group’s security vulnerability resolution platform, ThreadFix, with Coalfire’s current agile security methods to reduce the time it takes to measure cloud infrastructure risk, Mark Carney, Coalfire’s chief operating officer said in a release.
“We are committed to continuing to invest in and optimize the ThreadFix platform while supporting and expanding our ecosystem of partners,” Dickson said.
The ThreadFix platform recently garnered Denim Group a phase 2 Small Business Innovative Research by the Air Force’s innovation arm AFWERX, as reported by the Business Journal in October.
This is the second acquisition Coalfire has made this year. In January, it acquired Maryland-based startup Neuralys and its penetration testing management platform.
Kirkland & Ellis served as legal counsel to Coalfire and EY assisted with accounting and financial due diligence. GrowthPoint served as exclusive financial advisor to Denim Group.
Denim Group was founded in 2001 by Trinity University graduates Cornell and Chambers. Dickson is a well-known local business leader and has served as the Airport System Development Committee’s chair since being appointed by Mayor Ron Nirenberg in 2017.
Source: https://www.bizjournals.com/sanantonio/news/2021/06/01/denim-group-acquired-by-coalfire.html?&web_view=true
