Flare acquires Foretrace marking TEM arena's notable M&A

Flare, a specialist in Threat Exposure Management (TEM) arena, has announced their acquisition of U.S. data exposure firm Foretrace. Notably, this deal is considered one of the first mergers and acquisitions (M&A) within the TEM space since it was initially conceptualised by Gartner in 2022.

The purchase of Foretrace, a company known for its proficient team and Total Recon detection engine, is seen as a significant milestone for Montreal-based Flare. The tech firm, founded in 2017, recently celebrated triple-digit year-over-year growth in 2023. This growth, especially against the backdrop of an increasingly complex cyber threat landscape, showcases the vitality of Flare's innovative and market-leading service.

Flare's CEO, Norman Menz, commented on the acquisition, "Bringing Foretrace into the Flare family broadens our competencies for collecting emergent threat data whilst also enhancing our expertise. This positions us admirably to lead the way in TEM. This acquisition is a testament to our dedication to innovation and excellence as we enable enterprises to navigate the threat landscape with confidence and precision."

With the burgeoning volume and diversity of external threats, organisations face a daily battle to effectively identify, prioritise, and mitigate risks across their operational landscape, the company states. Foretrace's technology allows improved correlation and contextualisation of threat exposure data through generative AI systems. This technology aids in conducting thorough threat investigations. The amalgamation of Foretrace's technology with Flare's platform, which consolidates the features of previously disparate tech solutions such as cyber threat intelligence, attack surface management, and digital risk protection, will provide greater outcomes for customers building TEM programs.

The agreement will also see Foretrace founding executives Nick Ascoli and Matt Mosley join Flare as Senior Product Strategist and VP of Strategic Partnerships respectively. Both bring signficant industry experience, Ascoli being a recognised cybersecurity innovator whilst Mosley brings three decades of cyber security leadership.

Matt Mosley expressed his enthusiasm for the union, stating, "Together, we are prepared to set new precedents in threat exposure management, exploiting our combined command of the field and pioneering technologies to deliver extraordinary value to our clients. We are keen to begin this invigorating new stage with the Flare team."

Nick Ascoli also spoke on the merger, voicing his excitement and motivation, "At its core, Threat Exposure Management is about applying an adversarial lens to external threats. This was a substantial element of my objective when I founded Foretrace and I couldn't be more thrilled to continue it with Flare."

The successful integration of Foretrace into Flare's operations is poised to strengthen Flare's position in threat exposure management, leading to a more formidable and synergistic presence in guarding against digital threats.