Edgewater Growth Capital Partners III, L.P. is pleased to announce its newest portfolio company, Haystax Technology, Inc. Haystax provides cyber security services and technology products to defense, intelligence agency and commercial clients. In April 2013, Haystax completed its initial two acquisitions, both located in the Washington, D.C. area. Digital Sandbox, Inc. provides specialized “Big Data” analytics and active monitoring solutions for public and private sector clients. Digital Sandbox’s technology platform is utilized in counterterrorism centers, law enforcement, and special events security such as the Super Bowl and Republican National Convention. The second acquisition, FlexPoint Technology, LLC, specializes in delivering secure collaboration solutions to government customers with extremely demanding security requirements. Approximately ninety-five percent of Flexpoint’s employees have top secret security clearance to serve the highest level of the Federal government intelligence community.
Since 2012, Edgewater has partnered with Bill Van Vleet to build a next generation intelligence company that can collect, link, analyze and exploit data for the intelligence community. Mr. Van Vleet was previously CEO of Applied Signal Technology, Inc. (“AST”), a cyber security services and software company which he sold to Raytheon for approximately $500 million. Mr. Van Vleet is the CEO of Haystax and he has been joined by other senior members of his team at AST. Edgewater is working closely with the Haystax team and their many industry relationships to pursue additional acquisitions.
The growth opportunity for Haystax is highlighted with increasing frequency in national and global news headlines. The heightened risk of cyber threat and high profile security breaches require government agencies and private companies to turn to next generation big data and cyber security solutions.