- Acquisition of Deep Run Security Paying Dividends As Cyber Security Risk Assessment Requirements Increase
- July 17, 2017 | Authors: Gregory S. Weiner; David N. Pessin
- Law Firm: Pessin Katz Law, P.A. - Towson Office
“As incidents of intellectual property theft increases, companies of every size and in every industry are mandating risk assessments to formulate action plans” explains Larry Letow, CEO of Convergence Technology Consulting.
Larry Letow, CEO of Convergence Technology Consulting, LLC knew his company’s acquisition of Deep Run Security Services, LLC in January was a sound and pro-active business decision, and this judgement is paying “better than expected” dividends based on the “corporate awakening concerning the potential long-term damage” caused by intellectual property theft. Founded in 2014, Deep Run Security developed a software system – Spectrum® – that focuses on the analysis, prevention, monitoring and response of cyber security threats.
“The industry response to our acquisition of Deep Run Security has been extremely well-received especially considering the recent sea-change shift among companies that are increasingly taking measures to protect themselves from breeches within their corporate environment,” explained Larry Letow of Convergence Technology Consulting. “Over the past several months, we have conducted conversations with major companies in the financial, defense contracting and healthcare industries that share similar concerns. They cannot ignore potential risks and the threat of intellectual property theft any longer, and are anxious for solutions they can quickly implement.”
Providing chief information security officers and risk compliance officers into a company’s infrastructure on an as needed or part-time basis to establish and execute protocols that protect the company is another service high in demand, according to Letow. “Many companies cannot afford a full-time, dedicated professional to create and oversee these programs and, instead, utilize Deep Run Security for these breadth of services,” he said. “This is another exploding market as employers are recognizing that many of the threats can be remediated with the proper attention as long as you become aware prior to an attack or judgement lapse.”
The acquisition of Deep Run Security by Convergence Technology Consulting was transacted by Gregory Weiner of PK Law.
“Greg and his team were a tremendous resource to us and consulted both sides to achieve a successful conclusion,” Larry Letow explained. “He provided a 360 degree level of support by anticipating issues and providing solutions to maintain the timeline of the transaction.”