Harmonia Strengthens Cybersecurity Capabilities with Maveris Acquisition
Deal News | Jan 29, 2025 | EIN
Harmonia Holdings Group, under the leadership of Damon Griggs, has made its first acquisition with the support of private equity firm Madison Dearborn Partners by acquiring Maveris, a cybersecurity firm. This strategic move aligns with Harmonia's strategy to enhance its position in providing key capabilities such as digital modernization, artificial intelligence, cloud computing, and cybersecurity, the latter being the aim to strengthen via Maveris' specializations in threat intelligence and high-value asset assessments. Maveris' inclusion brings an additional 250 employees to Harmonia, bringing the total workforce to approximately 700. Maveris had been nearing a transition from service-disabled veteran-owned status, providing an opportunity to grow in the full-and-open market through integration with Harmonia. The transaction is expected to accelerate Harmonia's goal of achieving $1 billion in annual revenue, with further growth through acquisitions and internal development efforts. Financial details of the acquisition remain undisclosed.
Sectors
- Cybersecurity
- Private Equity
- Technology
- Corporate Finance
Geography
- United States – Harmonia and Maveris operate primarily within the United States, focusing on sectors like cybersecurity and government contracts, including Veterans Affairs and the Treasury Department.
Industry
- Cybersecurity – Maveris is a cybersecurity firm, and this acquisition aims to enhance Harmonia's cybersecurity capabilities, which is one of its key pillars.
- Private Equity – Madison Dearborn Partners is a private equity firm providing financial backing for Harmonia's acquisition of Maveris.
- Technology – Harmonia focuses on digital modernization, artificial intelligence, and cloud computing as part of its service offerings.
- Corporate Finance – The acquisition itself falls under corporate finance activities, involving transactional processes and strategic growth objectives.
Financials
- Not Disclosed – Financial terms of Harmonia's acquisition of Maveris were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Harmonia Holdings Group | Acquiring Company | Company | A company aiming to become a formidable player in technology with a focus on cybersecurity, digital modernization, AI, and cloud computing. |
| Maveris | Target Company | Company | A cybersecurity firm specializing in threat intelligence, incident response, and high-value asset assessments. |
| Madison Dearborn Partners | Private Equity Backer | Company | A private equity firm providing financial support for Harmonia's acquisition of Maveris. |
| Damon Griggs | CEO Harmonia | Person | Leader of Harmonia Holdings Group, overseeing the company's growth strategies and acquisitions. |
| Brian Heder | Senior Executive | Person | Senior executive at Maveris, continuing to run the business under Harmonia. |
| Casey Woodyard | Senior Executive | Person | Senior executive at Maveris, continuing to run the business under Harmonia. |
| Ron Cangley | CEO Maveris (Retiring) | Person | Retiring CEO of Maveris, who will retain a minority stake in the combined company. |