Dubai, September 30, 2025
The advisor teams of SAXUM GLOBAL and Buhler Duggal & Henry LLP, New York, have advised the UK- based Hack The Box, Ltd. (“Hack The Box”) in connection with a strategic add-on acquisition of New York- based LetsDefend, Inc. (“LetsDefend”), a pioneering blue team upskilling platform known for its hands-on SOC simulations and growing community members. The parties have agreed not to disclose specifics of the transaction.
Hack The Box is a global leader in gamified cybersecurity skills development with Carlyle Europe Technology Partners(„Carlyle„), one of its core investors and strategic partners. The combination of Hack The Box and LetsDefend will offer hands-on labs, real-world simulations, and cross-role skill development to empower enterprises, governments, MSSPs, and academic institutions to continuously benchmark, upskill, and certify their cyber workforce. This unified approach will drive more predictable security outcomes, reduce risk, and create high-performing cyber teams for organizations.
LetsDefend was founded in 2021 and has quickly grown into a go-to platform for blue team practitioners, boasting a community of over 320,000 users across 150+ countries. This strategic acquisition unites two of cybersecurity’s most vibrant communities and product offerings into one powerful ecosystem, advancing how organizations and individuals develop their cybersecurity knowledge and preparedness. With access to an expanded offering of full-spectrum, hands-on cyber defense upskilling, both red and blue teams will benefit from deeply integrated attack-and-defend scenarios, increased learning paths, and a collaborative ecosystem designed to enhance technical depth and operational readiness.
Carlyle is investing through its CETP V fund, a €3.2 billion vehicle focused on growth-stage technology businesses across Europe. The CETP team has extensive experience in scaling Infrastructure software and cybersecurity software platforms, with notable investments including 1E, NetMotion, Eggplant, ITRS and UC4/Automic. The advisory teams of SAXUM GLOBAL and Buhler Duggal & Henry LLP, which specialize in Corporate Development Transactions with a focus on Private Equity and Venture Capital, have again advised Hack The Box and Carlyle on the Transaction Services aspects and structuring of the transaction, as well as on the full scope of US legal aspects of the deal.