• DC Advisory (DC) acted as exclusive financial advisor to Smokescreen Technologies (Smokescreen) – an India-based leader in active cyber defense and deception technology – on its sale to NASDAQ listed, Zscaler Inc (Zscaler) – a US-based leader in cloud security
  • In contrast to traditional reactive security measures, active defense uses proactive tactics against advanced cyber attackers, resulting in high-confidence detections across the lifecycle of an attack
  • Smokescreen’s active defense solutions are fully deployed on the cloud and protect several of the world’s most targeted organisations (such as, leading financial institutions, energy and manufacturing companies) using a combination of machine learning and deception to actively detect cyber-attacks that bypass traditional security defenses


  • DC, led by Klaas Oskam, Eric Wagner and George Anthraper, acted as the exclusive financial advisor to Smokescreen on its sale to Zscaler


  • Smokescreen's cutting edge active defense capabilities will be integrated into the Zscaler Zero Trust Exchange - further enhancing Zscaler’s ability to precisely detect sophisticated, highly targeted attacks, ransomware, and lateral movement attempts
  • Additionally, Smokescreen will help to provide rich threat intelligence and telemetry for the Zscaler team to proactively detect emerging adversary tactics and techniques
  • This transaction bolsters DC’s global cross border M&A capabilities, alongside its Technology & Software credentials, particularly in the cybersecurity space

“The DC team were incredible, providing the right advice, and guiding and supporting us end-to-end. They showcased tireless efforts and were instrumental in getting us to the finish line on this strategic transaction with Zscaler. Alert volumes have never been higher. Security teams can’t separate the signal from the noise to take a proactive stance against stealthy attackers, and the role of active defense has never been more critical. By taking the fight to the attacker we can dramatically speed up threat hunting and containment. We are thrilled to join Zscaler and look forward to integrating our technology into the world’s leading zero trust platform.”

Sahir Hidayatullah
Founder, Smokescreen Technologies

“With its deep tech talent pool, India is now emerging as an innovation hub for SaaS and cybersecurity software - built from India for the world. The DC team has followed Smokescreen’s evolution for several years and is proud to have been able to leverage our global coverage and sector expertise in assisting Smokescreen during this strategic transaction with Zscaler.”

Klaas Oskam
Managing Director, DC Advisory