Rapid7, Inc. (NASDAQ:RPD), a leading provider of analytics
solutions for security and IT operations, has acquired Komand, a
security orchestration and automation company, to help its
customers reduce time to resolution, maximize resources, and
overcome ecosystem complexity. This acquisition enables Rapid7 to
address the critical need for orchestration and automation to fill
resource gaps that cannot be met by humans alone. Rapid7 is the
first organization to unite IT and security analytics and business
context with the ability to automate action.
“We are incredibly excited to welcome the Komand team to Rapid7.
The need for well-designed security and IT automation solutions is
acute; resources are scarce, environments are becoming more
complex, all while threats are increasing,” said Corey Thomas,
president and CEO of Rapid7. “Security and IT solutions must evolve
through context-driven automation, allowing cybersecurity and IT
professionals to focus on more strategic activities.”
Rapid7 software solutions have been recognized as offering the
most comprehensive data collection and advanced analytics to help
IT and security teams manage risk, respond to attacks, and
effectively monitor operations. Komand’s orchestration and
automation technology will expand Rapid7’s Insight platform’s
ability to empower lean security and IT teams to meaningfully
increase productivity across their entire operation and reduce the
time it takes to respond to an incident. Customers will have the
ability to automatically identify risks, respond to incidents, and
address issues significantly faster and with less human
intervention.
“When we defined the Komand mission, there was one goal to which
we repeatedly returned as inspiration: help under-resourced
security and IT teams better leverage what they have at their
disposal,” said Jen Andre, founder and CEO of Komand. “Rapid7 has
demonstrated that they share this vision, made evident by their
commitment to the security and IT communities, the genesis and
execution of the Insight platform, and the company focus on
building solutions that simplify complex processes.”
The Insight platform with enhanced automation and
orchestration
Today, the Rapid7 Insight platform processes more than 56
billion events and monitors millions of assets daily. Through the
acquisition of Komand, Rapid7 will be positioned to expand the
power of its Insight platform to orchestrate and automate across
the security and IT operations ecosystems. A sample of use cases
includes automated risk remediation and patching, malware
investigation and containment, and chat ops for responding to
routine inquiries. Today, the Komand user community and extensible
framework, with easy workflow generation leveraging over 150
plugins, is built and designed to foster adoption and usage across
companies of all sizes and levels of IT and security maturity.
“We’ve been impressed by the technology developed by the Komand
team and believe that together, we’ll be able to build solutions
that make security and IT teams significantly more productive,”
said Lee Weiner, chief product officer at Rapid7. “The complexity
of today’s security and IT ecosystems have put security and IT
operations teams at a significant disadvantage when they need to
respond quickly. By developing contextualized automation
technology, we’ll be able to cut back the time it takes to respond
to an incident—when minutes can mean the difference between a minor
issue and significant compromise or loss.”
The acquisition of Komand is not expected to have a material
financial impact to Rapid7’s calculated billings, revenue, and
non-GAAP earnings (loss) per share for calendar year 2017, as
guided on May 9, 2017.
Inducement Grants under NASDAQ Listing Rule
5635(c)(4) In order to induce Komand’ employees to join
and to retain and incentivize them going forward, Rapid7 has
granted restricted stock unit awards for 270,000 shares of its
common stock to 12 individuals who became employees of Rapid7.
These awards were approved by the compensation committee of its
board of directors, and were issued on July 12, 2017 under and
pursuant to the terms of Rapid7’s 2015 Equity Incentive Plan, as
amended (the “Plan”) and in accordance with NASDAQ Listing Rule
5635(c)(4). Each inducement award will vest over four years, with
25% of the original number of shares underlying such award vesting
on July 15, 2018 and 6.25% of the original number of shares
underlying each such award vesting on each quarterly anniversary
thereafter, subject, in each case, to continued service with Rapid7
on each applicable vesting date. In addition, these awards are
subject to possible accelerated vesting under certain
circumstances. The inducement awards were made under a separate
share reserve under the Plan designated for awards to be made to
new employees of Rapid7 as an inducement material to such persons
entering into employment with Rapid7 that was not approved by
Rapid7’s stockholders and are intended to be granted pursuant to
and in accordance with Nasdaq Listing Rule 5635(c)(4).
About KomandKomand is a security orchestration
and automation platform that gives security teams the power to
quickly automate and streamline security operations, with no need
for code. Teams can integrate their tools, build automated
workflows, and utilize human decision points to accelerate incident
response and move security initiatives forward, faster. Komand was
founded by Jen Andre, an industry veteran who formerly co-founded
Threat Stack, with a team that boasts a cybersecurity pedigree from
FireEye Mandiant, Symantec, IBM, CounterTack, MITRE, Carbon Black,
Recorded Futures, and OpenNSM.
About Rapid7Rapid7 (NASDAQ:RPD) is trusted by
IT and security professionals around the world to manage risk,
simplify modern IT complexity, and drive innovation. Rapid7
analytics transform today’s vast amounts of security and IT data
into the answers needed to securely develop and operate
sophisticated IT networks and applications. Rapid7 research,
technology, and services drive vulnerability management,
penetration testing, application security, incident detection and
response, and log management for more than 6,300 organizations
across more than 120 countries, including 39% of the Fortune 1000.
To learn more about Rapid7 or join our threat research, visit
www.rapid7.com.
Cautionary Language Concerning Forward-Looking
StatementsThis press release includes forward-looking
statements. All statements contained in this press release other
than statements of historical facts, including, without limitation,
statements regarding the expected benefits of the acquisition of
Komand and the solutions that Rapid7 will develop with the Komand
technology, including contextualized automation technology, and the
expected benefits of such solutions and Rapid7’s expectation
regarding the impact of the Komand transaction on Rapid7’s
calculated billings, revenue, and non-GAAP earnings (loss) per
share for calendar year 2017 are forward-looking statements. The
words “anticipate,” “believe,” “continue,” “estimate,” “expect,”
“intend,” “may,” “will” and similar expressions are intended to
identify forward-looking statements. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives and financial needs. These forward-looking statements
are subject to a number of risks and uncertainties, including,
without limitation, our ability to innovate and offer products and
professional services that address the dynamic threat landscape,
our ability to innovate and manage our growth, our ability to
integrate acquired operations, as well as other risks and
uncertainties set forth in the “Risk Factors” section of our
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission for the period ended March 31, 2017 filed with
the Securities and Exchange Commission on May 10, 2017, and
subsequent reports that we file with the Securities and Exchange
Commission. Moreover, we operate in a very competitive and rapidly
changing environment. New risks emerge from time to time. It is not
possible for our management to predict all risks, nor can we assess
the impact of all factors on our business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements we may make. In light of these risks, uncertainties and
assumptions, we cannot guarantee future results, levels of
activity, performance, achievements or events and circumstances
reflected in the forward-looking statements will occur. We are
under no duty to update any of these forward-looking statements
after the date of this press release to conform these statements to
actual results or revised expectations, except as required by law.
You should, therefore, not rely on these forward-looking statements
as representing our views as of any date subsequent to the date of
this press release.
Press contact:
Rachel E. Adam
Rapid7, Senior PR Manager
press@rapid7.com
(857) 990-4136
Investors:
Jeff Bray, CFA
Rapid7, Vice President, Investor Relations
investors@rapid7.com
(857) 990-4074
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