|[May 10, 2012]
Coalfire Acquires Digital Resources Group
LOUISVILLE, Colo. --(Business Wire)--
announced that it has acquired privately held Digital
Resources Group (DRG) of Redwood City, Calif.
The DRG acquisition is another milestone for Coalfire as it consolidates
its leadership position in the IT Governance Risk and Compliance (IT
GRC) services industry. Since closing a Series A round with Baird
Venture Partners in 2011, Coalfire has doubled its staff and opened new
offices in New York, Dallas and Los Angeles. By acquiring DRG, Coalfire
gains staff, skills and additional geographic presence in the northeast
and western United States and in Latin American and the Carbbean (LAC).
"We are acquiring DRG to meet increasing demand and fuel our growth,"
said Coalfire CEO, Rick Dakin. "That growth is due to three converging
factors: more sophisticated cyber threats, client desire for continuous
compliance management, and governance policies that mandate truly
independent IT audits. The lessons of Enron apply in cyber security as
well; you can't audit your own controls."
Jim Cowing, DRG's owner, and his team have joined Coalfire as a part of
the transaction, and Cowing will serve as Coalfire's West Region
managing director. He will continue to serve existing clients as well as
support Coalfire's interests in California, Nevada, Arizona and Hawaii.
"Our clients will continue to get outstanding service and we will be
able to help them in new ways now that we are on the Coalfire team,"
said Cowing. "In addition, our clients will gain access to Coalfire's
NavisTM platform, which will help them manage PCI (News - Alert), HIPAA
and GLBA compliance in a consistent and continuous manner. I also look
forward to introducing our clients to the Coalfire
Labs team and the additional depth provided for application
security, penetration testing and forensic analysis."
Financial terms of the transaction are undisclosed.
here to view a short video on the transaction from Coalfire's board
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