Landstar has acquired a controlling interest in the online security services provider Nyl, with a purchase price of $100 million, the company announced.
The acquisition comes after Landstar said it had sold a controlling stake in the company to another entity earlier this year.
Landstar has said that Nyl has “largely fulfilled its commitment” to customers, adding that the acquisition will help the company “build a stronger and more efficient company.”
“As Nyl continues to grow and evolve, it is important that we continue to leverage the unique strengths of our platform, including the broad base of our customers, the breadth of our network of agents, the proven and growing expertise of our business partners, and the strength of our relationship with our customers,” Landstar CEO and co-founder Jeff Landstra said in a statement.
“With this acquisition, we are able to better leverage the strength we have and the capabilities of our agents to meet our customers’ needs.”
Landstar, which provides a range of cloud-based security services, including for companies that have not yet deployed cloud-native technology, has been a major player in the cybersecurity market, providing a range the likes of which have been hard to find outside of traditional companies.
Nyl also offers a suite of software tools and tools that are used by businesses, governments and individuals to secure and manage the online life of individuals and organizations.
Nys customers include U.S. military and law enforcement, and banks, universities and other institutions.
Landstra, who previously served as the CEO of the U.K.-based Cybersecurity Centre, took over as CEO in July.