SOURCE: Wombat Security Technologies

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October 14, 2015 09:00 ET

Wombat Security Announces the Acquisition of ThreatSim; Extends Leadership in Security Awareness and Training Market

The Combined Organization Provides Security Officers With the Most Comprehensive and Effective Security Awareness and Training Solution, Which Provides Actionable Intelligence About Employee Knowledge and Vulnerability to Attack

PITTSBURGH, PA--(Marketwired - October 14, 2015) - Wombat Security Technologies (Wombat), the leading provider of security awareness training solutions that change employee behavior, today announced the acquisition of ThreatSim, a leading provider of testing to protect against spear phishing attacks.

As cyber criminals increasingly target companies through their employees, enterprises need to ensure they have the most effective security education in place to enable employees to identify and avoid attacks. The combination of ThreatSim's spear phishing testing solution with Wombat's Security Education Platform will provide additional benefits for both existing and new customers.

Wombat will integrate ThreatSim's spear phishing solutions and other capabilities with its existing Security Education portfolio to deliver the most fully featured and effective portfolio on the market. The expanded product offering will combine the best-of-breed features from both Wombat and ThreatSim's mock phishing attack products, and provide customers with market-leading educational solutions that will enable them to change end-user behavior and significantly reduce risk across their organizations.

"This is a great win for Wombat and ThreatSim, but most importantly for our current and future customers. Enterprises around the world now have access to the most innovative educational solutions to combat phishing attacks as well as all cyber attacks from one company," said Joe Ferrara, President and CEO Wombat Security. "We look forward to building upon the momentum Wombat has already achieved, from record customer and revenue growth, to industry recognition by Gartner as a leader in the security awareness and training market."

According to Jeff LoSapio, CEO of ThreatSim, "Discussions with our customers about this acquisition have been overwhelmingly positive and we are looking forward to continuing our growth trajectory while we satisfy the exploding demand for effective security education as part of Wombat."

Just days ago, Gartner recognized Wombat for the second year in a row as the clear leader in the 2015 Magic Quadrant for Security Awareness Computer-Based Training Vendors. Over the past years, Wombat has attracted multiple heavy-hitting technology and channel partners in info security, including Dell SecureWorks, RSA (a division of EMC), and most recently Bit9 + Carbon Black. All of these activities have contributed to record customer, revenue, and employee growth.

This growth and attention is easily attributed to Wombat's differentiated, innovative, and proven methodology, which helps organizations change employee behavior and, therefore, reduces the risk of successful cyber attacks. As evidenced by recent independent research performed by Ponemon Institute and the Aberdeen Group, a Harte Hanks company, the Wombat Security Continuous Training Methodology has produced up to a 50x ROI as well as 60% reduction in enterprise risk.

Wombat's comprehensive solution includes integrated knowledge assessments; simulated attacks for phishing, USB devices, and SMS/text messages; a library of interactive and in-depth training modules; security awareness materials, including articles, posters, and screen saver images; as well as new dynamic reporting.

As part of the acquisition, ThreatSim's team of security practitioners, software engineers, sales, and customer support experts will join Wombat's team.

About ThreatSim
ThreatSim is based in Reston, Virginia, and offers spear phishing attack testing for organizations that want to teach their end users to avoid attacks. They have been praised by their customers for a very user-friendly product and excellent customer service. ThreatSim has employees in locations around the country and a rapidly growing customer base.

About Wombat Security Technologies
Wombat Security Technologies provides information security awareness and training software to help organizations teach their employees secure behavior. Their SaaS-based cyber security education solution includes a platform of integrated broad assessments, as well as a library of simulated attacks and brief interactive training modules. Wombat's solutions help organizations reduce successful phishing attacks and malware infections up to 90%. Wombat, recognized by Gartner as a leader in the Magic Quadrant for Security Awareness Computer-Based Training Vendors, is helping Fortune 1000 and Global 2000 customers in industry segments such as finance and banking, energy, technology, higher education, retail, and consumer packaged goods to strengthen their cyber security defenses.

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