MSSP CyberProof has acquired Spanish cybersecurity company Necsia Cybersecurity (terms were not disclosed), which offers MDR services and security consulting (compliance and security assessments) to the banking, financial services and insurance (BFSI), retail and technology markets.

CyberProof intends to integrate Necsia’s managed detection and response (MDR) offerings into its wider security services portfolio. CyberProof itself provides event monitoring, managed response and other managed security services that leverage security operations center (SOC) automation technologies.

“The acquisition of Necsia Cyber Security expands our scale and expert delivery capacity in an ideal location to support our customer operations. The European and UK markets are growing rapidly as our security services solve the complex challenges in a unique way for our clients,” commented Tony Velleca, CEO of CyberProof and UST Global CISO.

This is the 29th MSSP M&A deal in 2019, pointing to ongoing consolidation that is being driven by a number of factors. MSSPs that want to grow are using M&A to acquire shortage skills, to close technology gaps in their portfolio and to move into new markets. MSSPs are also growing scale so they can compete with the major players in the market. Other deals this year include:

  • February 2019 – Orange acquired SecureData
  • March 2019 – Deloitte acquired Converging Data Australia, and NTT Security acquired WhiteHat Security
  • April 2019 – GBprotect was bought by Nuspire and Nixu acquired Ezenta
  • May 2019 – Sunstone Partners acquired and merged Sword & Shield, Terra Verde and TruShield to create Avertium, and Orange bought SecureLink
  • July 2019 – CSAM Marketing was acquired by EisnerAmper
  • August 2019 – Southfield Capital backed Protos Security acquired Security Resources (SRI), and Presidio was acquired by BC Partners ($2.1 billion)
  • September 2019 – EY acquired ElevatedPrompt Solutions
  • October 2019 – BPM bought Adhere, and BGH Capital bought and merged 12 cybersecurity consulting firms (Alcorn, Assurance, Sterisk, CQR, Diamond, Enosys, Klein & Co, Phriendly Phishing, Sense of Security, Shearwater, TSS and YellIT), launching CyberCX
  • November 2019 – IPKeys bought N-Dimension, and CynergisTek acquired Backbone Technologies.

Posted by Morgan Lewis

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