Booz Allen Spins Out SnapAttack

Booz Allen Hamilton Holding Corp BAH completed a transaction to transfer all assets related to SnapAttack to a new cyber threat hunting and detection company. Financial terms were not disclosed.
SnapAttack is a cloud-based software solution that proactively brings together actionable threat intelligence and hacker detection to detect and defend against cyber threats.
Booz Allen maintains a significant minority stake in the new company and a strategic partnership agreement to continue collaboration. Additional investors include Volition Capital and Strategic Cyber Ventures.
The entity includes a dedicated technical team and the SnapAttack product, a unique technical solution that enables community collaboration around threat intelligence, attack emulation, and detection analytics.
SnapAttack was developed and launched publicly by Booz Allen DarkLabs.
The SnapAttack product development team will continue to be led by Chief Technology Officer Fred Frey and Chief Product Officer Tim Nary, SnapAttack's original developers.
Price Action: BAH shares closed higher by 1.66% at $89.85 on Friday.