Acrisure, a fast-growing fintech, cyber insurance and MDR (managed detection and response) provider, has acquired and placed two MSPs in its cyber services division. The acquisitions, which include Catalyst Technology Group and ITS Inc., further align the MSSP, MSP, MDR and cyber insurance markets.
These are the 669 and 670 tech M&A deals, respectively, that MSSP Alert and sister site ChannelE2E have covered so far in 2022. The terms of the transactions were not disclosed.
Based in Indianapolis, Indiana, Catalyst Technology Group provides IT support for small and medium-sized businesses. According to the LinkedIn profile, the company, founded in 2002, employs 11-50 people.
ITS, also founded in 2002, is based in Bar Mills, Maine and employs 21 people, according to its company profile. ITS provides IBM system design, integration and consulting services to industries including manufacturing, distribution, healthcare and education, the press release said.
Acrisure co-founder, chairman and CEO Greg Williams highlighted the benefits of the acquisitions:
“Catalyst and ITS are entrepreneurial organizations with strong leadership and deep customer relationships. Our customers will greatly benefit from the expanded cyber services offering that is included in our solution.
Acrisure launches cyber services offering
Headquartered in Grand Rapids, Michigan, Acrisure provides services in areas such as insurance, real estate, cybersecurity and asset management. The company’s revenue has grown from $38 million to more than $3.8 billion over the past eight years.
Launched in early 2022, Acrisure Cyber Services offers the following capabilities:
- Email security, including phishing monitoring, impersonation protection and account takeover protection;
- antivirus, threat prevention and managed detection and response;
- vulnerability management across cloud, virtual and physical systems;
- security information and event management;
- secure data backup and disaster recovery;
- security awareness training; and
- cyber insurance.
The acquisition of MSP enables Acrisure Cyber Services to provide:
- Microsoft products, licenses and Azure cloud services
- Dell Computers and Components
- Cisco networking equipment and software
- 24 hour Microsoft support
- IBM hardware and software products and services
Bill Meara, President of Cyber Services at Acrisure, offered his perspective on the acquisitions:
“Cyber risk threatens organizations of all sizes, but small and medium-sized businesses are particularly vulnerable to increasingly sophisticated attacks. In addition, cyber insurance providers are raising the bar for the minimum protection required to ensure coverage. We offer a single solution tailored to their unique risk profile, size, industry and more. Now we have created a complete IT solution with Catalyst and ITS.
Acrisure joins the Pittsburgh Steelers
In marketing and branding, Acrisure has acquired the naming rights to the Pittsburgh Steelers’ team stadium. The former Heinz Stadium will carry the field as Acrisure Stadium for the next 15 years.
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