Teleo Capital Management has acquired Foxboro, Massachusetts-based Industrial Defender, a provider of cybersecurity and compliance software solutions for critical infrastructure providers. The seller was Capgemini America Inc. No financial terms were disclosed.
Correction: An earlier version of this report misspelled Teleo in the headline. The report has been corrected.
LOS ANGELES, Jan. 24, 2020 /PRNewswire/ — TELEO Capital Management, LLC (“TELEO”) announced today the acquisition of the Automated System Management (ASM) product platform and related products (“Industrial Defender”) from Capgemini America, Inc.
Based in Foxboro, MA, Industrial Defender provides cybersecurity and compliance software solutions for critical infrastructure providers globally. The software offers a management platform purpose-built to address the overlapping requirements of cybersecurity, compliance and change management for Industrial Control Systems (ICS). Industrial Defender serves Fortune 500 clients across the utility, oil & gas and chemical processing verticals. TELEO’s investment will support continued product innovation and expansion of global brand awareness.
“The market for operational technology cybersecurity is rapidly expanding and Industrial Defender, with its unique blend of active and passive monitoring technology, is very well positioned. We are extremely excited to support the Industrial Defender team through this next stage of growth,” stated TELEO Capital.
“Industrial Defender’s active monitoring capabilities provide best-in-class asset visibility to our customers,” said Jim Crowley, CEO of Industrial Defender. “As industrial environments become increasingly complex, Industrial Defender’s ability to remotely secure vulnerabilities, manage ICS configuration and policy, implement regulatory compliance measures and efficiently process reporting requirements drives significant ROI for its customers.”
“This transaction will allow the Industrial Defender team to operate independently with TELEO’s capital and operational support,” stated Joseph Roark, Industrial Defender’s Chairman and TELEO’s Operating Partner. “Industrial Defender will be a platform where additional growth through both organic and acquisitive investment will position the company to deliver to its blue-chip customers the best products and services in their served markets,” Roark continued.
Commenting on the transaction, Bob Meindl, Executive Vice President and Head of Capgemini’s Cybersecurity Practice in North America, said, “The sale of the Automated System Management product platform, Industrial Defender, to TELEO Capital Management, enables Capgemini to maintain our focus on providing world class cybersecurity services to our clients. As part of this deal, we have an agreement in place that includes a preferred customer and preferred supplier status, so we look forward to future collaboration with the new company.”
About Industrial Defender, Inc.
Industrial Defender provides cybersecurity and compliance solutions for critical infrastructure providers globally. Its Automation Systems ManagerTM (ASM) software offers a management platform purpose-built to address the overlapping requirements of cybersecurity, compliance and change management for Industrial Control Systems (ICS). It provides comprehensive asset visibility, tracking, configuration and policy control, as well as vulnerability monitoring and compliance reporting for industrial endpoints. Industrial Defender serves Fortune 500 clients across the utility, oil & gas and chemical processing verticals.
For additional information, please visit www.industrialdefender.com.
About TELEO Capital
TELEO Capital is a lower middle market private equity firm that looks to invest in opportunities where its strategic thought, operational resources and capital base empower management to perform and execute their business plan. With over 75 years of collective private equity experience, we bring a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, as well as buy and build strategies for our portfolio companies. TELEO targets opportunities in the technology & software, healthcare IT, business services and industrial sectors. The firm is headquartered in Los Angeles, CA.