Security Innovation, a leader in software security assessment and training, announced that it has spun out its training solutions division to form Command and Control Security, d/b/a CMD+CTRL Security as a separate company to continue to build upon the proven security training programs that make up the CMD+CTRL Base Camp solution portfolio. CMD+CTRL Security will retain all of Security Innovation’s former SaaS training solutions. Subsequently, Security Innovation will be acquired by Bureau Veritas, a global leader in the Testing, Inspection and Certification (TIC) industry, to establish a new cybersecurity hub for its clients in the U.S.
Upon closing of the transaction, CMD+CTRL Security will be led by CEO Jeffrey Emig, former COO and CFO of Security Innovation. CMD+CTRL Security helps development teams level-up their security skills and reduce software security risks through interactive and engaging programs tailored to all roles and levels within the SDLC. The award-winning CMD+CTRL training platform includes 11 immersive, hands-on cyber ranges, 250+ interactive modules and 125+ scenario-based labs. More than 300 companies and over one million participants have enhanced their skills with CMD+CTRL training, from Global 100 software companies to mid-size tech companies, financial services firms, and retailers.
“Proactive and immersive security training is essential for all organizations to better protect against the latest cybersecurity threats,” said Emig. “CMD+CTRL Security will build on our decades of experience offering role-based skills development with realistic simulated environments to deliver impactful learning programs that bolster security defenses.”
The deal is expected to close in Q3 2024. Financial details of the transaction have not been disclosed. Security Innovation has a history of successful technology spin-offs, including the sale of Onboard Security to Qualcomm in 2019 and the Security Innovation Government division to Raytheon in 2008. Security Innovation and CMD+CTRL Security will retain a strong commercial agreement.
“Today marks an important milestone for Security Innovation. This divesture will allow both companies greater flexibility to pursue focused growth strategies,” said Ed Adams, CEO, Security Innovation. “We see tremendous potential for expansion in the cybersecurity training solutions segment and intend to maintain a close partnership with CMD+CTRL Security to add value for our customers.”
SOURCE: BusinessWire