Riptech

Riptech was an American managed security services company established in April 1998 by Amit Yoran, Elad Yoran, Naftali Yoran, and Tim Belcher. The company emerged during the early commercial expansion of the internet, when organizations were beginning to connect critical business systems to networks but had limited internal capacity to monitor security events continuously. Riptech addressed that need through outsourced security operations rather than by selling only standalone software or hardware. The company began operating in December 1999. Its core service was around-the-clock monitoring of customers’ corporate networks for potential security threats. This model placed Riptech within the early managed security services market, in which a specialist provider operated security monitoring infrastructure and personnel on behalf of client organizations. Riptech also conducted research into internet attack activity and published analyses of trends and patterns observed across the broader online environment. That combination of operational monitoring and threat research helped distinguish the company from a conventional technology reseller. Riptech raised approximately $45 million in venture capital from Columbia Capital, Providence Equity, and Broadview Capital. The funding supported the development of its security operations capability and expansion of its managed monitoring business. The company’s activities reflected a period when enterprises were increasingly concerned about unauthorized access, network attacks, and the difficulty of staffing security functions continuously. In August 2002, Symantec acquired Riptech for $145 million in cash. Symantec integrated Riptech’s managed security operations into its enterprise security services business. The transaction ended Riptech as an independent company, while allowing its monitoring capabilities and operational expertise to become part of Symantec’s broader enterprise-security offering. Riptech’s co-founder Amit Yoran later held senior public- and private-sector cybersecurity roles, including service as director of the National Cyber Security Division at the United States Department of Homeland Security from 2003, and subsequently became chief executive of Tenable, Inc.

Riptech was founded in the United States in April 1998 by Amit Yoran, Elad Yoran, Naftali Yoran, and Tim Belcher. Its creation coincided with the growth of internet-connected business systems and rising demand for professional network-security monitoring. Rather than concentrating on a packaged security product, Riptech developed a managed-services model in which specialists monitored customer networks continuously and investigated potential threats. The company began operations in December 1999. It operated a security operations centre that provided 24-hour monitoring for corporate clients. This approach was significant in an era when many organizations lacked the personnel, tools, and processes required to maintain continuous security oversight internally. Riptech also published research on internet attacks, using observed activity to analyze broader trends and document recurring patterns in online threats. Riptech obtained approximately $45 million in venture funding from Columbia Capital, Providence Equity, and Broadview Capital. The investment supported its operating infrastructure and growth in the emerging managed security services sector. Its business combined recurring operational services with threat research, giving customers access both to network surveillance and to analysis of the changing attack environment. In August 2002, Symantec acquired Riptech for $145 million in cash. Following the transaction, Symantec integrated Riptech’s managed security operations into its enterprise security services organization. Riptech therefore ceased operating as an independent company, but its core capabilities continued within Symantec’s security business. Co-founder Amit Yoran later became director of the National Cyber Security Division of the United States Department of Homeland Security in 2003 and subsequently served as chief executive of Tenable, Inc.

• 2002

  Acquired by Symantec

  [1]Riptechen.wikipedia.org

  Symantec completed the acquisition of Riptech in August for $145 million in cash.

• 1999

  Operations begin

  [1]Riptechen.wikipedia.org

  Riptech began operating in December, providing managed security monitoring and related threat-analysis services.

• 1998

  Riptech founded

  [1]Riptechen.wikipedia.org

  Amit Yoran, Elad Yoran, Naftali Yoran, and Tim Belcher founded Riptech in the United States.

An early managed security services provider focused on outsourced, continuous network monitoring and threat intelligence for enterprise customers.

• Managed security service · 1999

  Managed security monitoring

  Riptech’s principal offering was continuous monitoring of corporate networks for suspicious activity and security threats. The service relied on a dedicated security operations centre and provided organizations with outsourced operational coverage at a time when many enterprises did not have the resources to staff comparable functions around the clock.

• Threat intelligence · 1999

  Internet attack research

  The company analyzed internet-based attacks and published research describing trends and patterns in hostile network activity. This research complemented its monitoring services by placing individual security events within a wider view of the developing online threat landscape.

• 2002

  Symantec acquisitionM&A

  Background

  Riptech had developed managed security monitoring and threat-research capabilities during the early expansion of enterprise internet use.

  Action taken

  Symantec purchased Riptech in August 2002 for $145 million in cash and integrated its managed security operations into Symantec’s enterprise security services business.

  Aftermath

  Riptech no longer operated as an independent company, while its managed-security capabilities continued under Symantec.

  Acquisition consideration. $145 million in cash (August 2002)

  Source

1. 1Riptechen.wikipedia.org