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SECUREWORKS CORP.

(SCWX)
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Secureworks : Completes Acquisition of Delve Laboratories, Inc.

09/22/2020 | 08:01am EDT

SaaS solution expands Secureworks’ software portfolio with vulnerability management capabilities

ATLANTA, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Secureworks® (NASDAQ:SCWX), a leader in software-driven security solutions, today announced it has completed the acquisition of Delve.

Delve’s SaaS solution uses artificial intelligence (AI) and machine learning to automate vulnerability detection and prioritization across an organization's network, endpoint or cloud environment, providing CISOs, CIOs and IT Security departments accurate and prioritized insights to protect themselves against adversaries.

Secureworks plans to integrate vulnerability discovery and prioritization technology into new offerings within its cloud-based portfolio, including its Red Cloak Platform and Threat Detection and Response (TDR) application, expanding visibility and insights for users.

“We’re bringing Delve into Secureworks at a time when we’re accelerating our transformation and have marked momentum for our software solutions,” said Michael R. Cote, Chief Executive Officer of Secureworks. “We’re in a position of strength, offering greater value by delivering deeper intelligence, a differentiated end-to-end experience, and a collaborative community built to protect our customers as they digitally transform.”

"Secureworks’ acquisition of Delve is a good pivot from detection/response to cyber-risk assessment and security validation to complete the circle as Secureworks transforms to a software company,” said Jon Oltsik, Senior Principal Analyst & ESG Fellow, ESG.

The Delve Solution will be available to Secureworks customers by the end of the Company’s fiscal quarter. With the acquisition, Secureworks also grows its channel partner and direct sales footprint in Canada.

About Secureworks 
Secureworks® (NASDAQ:SCWX) a global cybersecurity leader, enables our customers and partners to outpace and outmaneuver adversaries with more precision, so they can rapidly adapt and respond to market forces to meet their business needs. With a unique combination of cloud-native, SaaS security platform and intelligence-driven security solutions, informed by 20+ years of threat intelligence and research, no other security platform is grounded and informed with this much real-world experience.

Contact: 
Ashley Vandiver
avandiver@secureworks.com
press@secureworks.com
+1 404-432-8657

Visit Secureworks.com

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Read the Secureworks Blog 

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Secureworks' current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “plan,” “potential,” “outlook,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, competitive uncertainties and general economic and business conditions in Secureworks' markets as well as the other risks and uncertainties that are described in Secureworks' periodic reports and other filings with the Securities and Exchange Commission, which are available for review through the Securities and Exchange Commission's website at www.sec.gov. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update any forward-looking statement after the date as of which such statement was made, whether to reflect changes in circumstances or our expectations, the occurrence of unanticipated events, or otherwise. Any future product, service, feature, benefit or related specification referenced in this press release are for information purposes only and are not commitments to deliver any technology or enhancement.

© OMX, source OMX

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Financials (USD)
Sales 2022 545 M - -
Net income 2022 -48,3 M - -
Net cash 2022 210 M - -
P/E ratio 2022 -37,5x
Yield 2022 -
Capitalization 1 730 M 1 730 M -
EV / Sales 2022 2,79x
EV / Sales 2023 2,71x
Nbr of Employees 2 696
Free-Float 10,9%
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Mean consensus UNDERPERFORM
Number of Analysts 7
Average target price 14,83 $
Last Close Price 20,61 $
Spread / Highest target -15,1%
Spread / Average Target -28,0%
Spread / Lowest Target -44,2%
EPS Revisions
Managers and Directors
NameTitle
Michael R. Cote Chief Executive Officer & Director
Paul M. Parrish Chief Financial Officer & Senior Vice President
Michael Saul Dell Non-Executive Chairman
Kevin Hanes Chief Operating Officer
George Barry Hanna Secretary, Chief Legal & Administrative Officer
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