Canadian IT security specialist Herjavec Group has announced its expansion into Europe with the acquisition of UK security firm Sysec.
Sysec specialises in information, identity and infrastructure security, offering managed, consulting and professional services to more than 200 enterprise clients across the UK and Europe. It is forecasted to achieve more than £10.6m (CAD$20m) in sales revenue for 2015.
The Sysec transaction accelerates Herjavec Group’s three-year, $250m expansion plan. “We started as a small Canadian firm and have grown exponentially over the past twelve years to 250 team members and $140m in annual sales revenue,” says Robert Herjavec (pictured), founder and CEO of the company – and star of the US version of Dragons’ Den, Shark Tank.
“We recognise that the threat of cybercrime is a global challenge and this acquisition provides the platform for Herjavec Group to support our clients overseas with exceptional, localised, managed services 24/7/365,” he adds.
The amount paid for Sysec has not been revealed.
Sysec will be re-branded as Herjavec Group, with its Reading office serving as its European headquarters.
Cris Pikes, Sysec managing director will lead Herjavec Group’s European expansion. “Herjavec Group is a world-class information security organization that shares Sysec’s high-touch, customer-first approach. I am confident Herjavec Group will take our managed services practice to the next level,” he comments.
The acquisition is part of Herjavec Group’s ‘follow-the-sun’ strategy by developing a London-based Security Operations Centre (SOC) to complement the support offered from its Toronto -based SOC and its technical security centre in Las Vegas, Nevada.
In addition, Herjavec Group expects to finalise construction of its Los Angeles, California SOC by close of Q1 2015.
