According to Mordor Intelligence, the global Security and Vulnerability Management Market is expected to grow at 10% CAGR from $6.61 billion in 2020 to $11.72 billion market by 2026. Maryland-based Tenable (Nasdaq: TENB) is acquiring other players to ensure it gets a bigger pie of this market.

Tenable’s Financials

Tenable recently announced its fiscal second-quarter results. Q2 revenues grew 22% to $130.3 million, ahead of the market’s estimates of $125.53 million. Non-GAAP EPS was $0.09, which was better than the market’s estimated EPS of $0.05 per share.

Among key metrics, calculated current billings grew 23% to $136.8 million for the quarter. It added 399 new enterprise platform customers and 67 net new six-figure customers.

For the third quarter, Tenable expects revenues of $133-$135 million and an EPS of $0.01-$0.03. It expects to end the year with revenues of $528-$531 million and an EPS of $0.25-$0.29. The market was looking for revenues of $134.48 million and an EPS of $0.02 per share for the third quarter and revenues of $529.95 million and an EPS of $0.28 per share for the year.

Tenable’s Acquisition

Tenable recently announced the acquisition of California-based Accurics for an estimated $160 million. Founded in 2019 by Om Moolchandani, Piyush Sharrma, Sachin Aggarwal, and Sharad Kumar, Accurics helps manage cloud infrastructure by codifying security throughout the development lifecycle. It detects and resolves risks across Infrastructure as Code (IaC) before infrastructure is provisioned and maintains secure posture in runtime by programmatically mitigating risks from changes. It also developed Terrascan, an open-source tool for DevOps, which has over 200,000 downloads and is a key part of cloud IaC practices.

The acquisition will allow Tenable to expand its list of solutions to include holistic assessment and the automated remediation of policy violations and breach paths before the infrastructure is provisioned throughout its lifecycle. Accurics’ solutions will be integrated with Tenable.io Container Security to integrate security into DevOps, Frictionless Assessment to help deliver continuous visibility and assessment of cloud assets, and Tenable.io Web Application Scanning to deliver simple, scalable, and automated vulnerability scanning for web applications. Prior to the acquisition, Accurics had raised $20 million in two rounds of funding from Intel Capital, Westwave Capital, ClearSky, Secure Octane, and Firebolt Ventures.

Tenable’s stock is trading at $45.17 with a market capitalization of $4.81 billion. It had touched a 52-week high of $58.45 in December of last year. It fell to a 52-week low of $33.25 in October of last year.