Cybersecurity platform outSOC acquires SIEMPlexus Technology, exits stealth mode

MIAMI, March 11, 2020 /PRNewswire/ -- outSOC, a channel exclusive, white-label, SaaS security platform today announced its public launch and consequent acquisition of SIEMPlexus Technology.

outSOC is the latest venture for cybersecurity veteran, Richard Dobrow and entrepreneur, Patrick Linton. In 2019, they formed Bolton Secure (previously Bolton Labs) to address the cybersecurity talent shortage by providing MSPs and MSSPs with access to dedicated security analysts. Soon after Bolton Secure's launch, they quickly identified a gap in the market for a channel exclusive, affordable, white-label, SOC-as-a-Service platform.

Linton said in a statement, "We observed a significant segment of Bolton Secure's customer base that required more technology and automation solutions as opposed to purely staff augmentation; this segment will now be addressed by outSOC. There are clear synergies between the two offerings and as a result, I expect the customers of both organizations and the market as a whole to benefit."

After building the outSOC platform, the company has been operating in stealth mode inviting key customers on to their beta. The purchase of SIEMPlexus signifies the public release of the platform and the next phase of the SaaS company's growth.

SIEMPlexus, which was founded in 2017 by Rick Westmoreland and Shueib Sayyed, gained significant traction by partnering with managed services providers in Asia. These partnerships, which will now be managed by outSOC, serve over 50 enterprises, including financial institutions, government, e-commerce, and fintech organizations.

outSOC CEO, Richard Dobrow said in a statement, "The technology and deep expertise that the SIEMPlexus team brings will be instrumental in the growth and market reach of our platform. We are planning to make significant investments in the outSOC platform to ensure it becomes the leading white-labeled, SaaS, service delivery platform for the channel on a global scale."

Following the completion of the transaction, Rick Westmoreland will assume the role of Vice President, Technology for outSOC, and Shueib Sayyed the position of Vice President, Security Services. Other key personnel that will take senior leadership roles at outSOC include Isaac Sabas, the Founder of Pandora Labs who will now serve as the Vice President of Product Development and Tara Tate, previously the CISO of BAE Systems Applied Intelligence who will now assume the CISO role for outSOC.

About outSOC

outSOC is a channel exclusive, multi-tier white-label, SaaS security platform that allows fast-growing MSPs, MSSPs, and resellers to scale their security services with no additional staffing, software, or capital expenditures. For more information, visit outsoc.com.

SOURCE outSOC