Qualys signs letter of intent to acquire Second Front Systems
Qualys, Inc. of Foster City, CA announced on June 4 that it has entered into a non-binding letter of intent to purchase Second Front Systems. When completed, the acquisition would be expected to provide increased domain expertise in building and delivering cybersecurity solutions tailored for the U.S. federal government, including defense, intelligence, and law enforcement.
Second Front Systems sources cutting-edge solutions in cybersecurity and advanced intelligence analytics, and delivers these solutions by working to engage the appropriate government stakeholders and modifying technology platforms to address mission requirements. Second Front Systems is currently a Qualys channel partner delivering solutions to federal agencies using the Qualys Gov Platform.
“This acquisition would enable us to strengthen our federal division and expand the reach of the Qualys Gov Platform to various government sectors including military and defense,” said Philippe Courtot, chairman and CEO, Qualys, Inc. “Second Front Systems provides comprehensive advisory services and cybersecurity solutions to government agencies addressing specific and pressing national security needs, to include those dealing with classified information. The Second Front team has significant expertise helping federal agencies build state-of the-art cybersecurity solutions as they embark on their digitization efforts. We hope to welcome the entire team to our federal division.”
The terms of the letter of intent providing for the proposed acquisition are non-binding and the parties will need to negotiate and enter into definitive agreements before proceeding with the proposed acquisition. If the parties are able to negotiate and enter into such agreements, it is anticipated that the proposed acquisition would be subject to regulatory approvals, as well as other closing conditions. Subject to satisfaction of all conditions and the closing of the proposed acquisition, Qualys would expect Second Front Systems to operate under its federal division as an independent subsidiary. If the parties are able to enter into and consummate the acquisition, Qualys would expect the transaction to close either in Q3 or Q4 of this year.