Cyber Insurance and MDR Security Provider Acrisure Acquires MSP, IBM Consulting Firm
Fast-growing fintech, cyber insurance and MDR (managed detection and response) provider Acrisure has acquired and tucked two MSPs into its Cyber Services division. The acquisitions — involving Catalyst Technology Group and ITS Inc. — further converge the MSSP, MSP, MDR and cyber insurance markets.
These are technology M&A deals number 669 and 670, respectively, that MSSP Alert and sister site ChannelE2E have covered so far in 2022. Terms of the deals were not disclosed.
Catalyst Technology Group, based in Indianapolis, Indiana, offers IT support to small-and-medium size businesses. The company, founded in 2002, has 11-50 employees, according to its LinkedIn profile.
ITS, also founded in 2002, is based in Bar Mills, Maine and employs 21 people, according to a company profile. ITS provides IBM system design, integration and consulting services to industries including manufacturing, distribution, healthcare and education, the news release stated.
Acrisure Co-Founder, Chairman and CEO Greg Williams touted the advantage of the acquisitions:
“Catalyst and ITS are entrepreneurial organizations with strong leadership and deep customer relationships. Our clients will greatly benefit from an expanded Cyber Services offering with these capabilities added to our solution.”
Acrisure Launches Cyber Services Offering
Acrisure, headquartered in Grand Rapids, Michigan offers services in such areas as insurance, real estate, cyber security and asset management. Company revenues have grown from $38 million to more than $3.8 billion over the past eight years.
Acrisure Cyber Services, which launched in early 2022, offers such capabilities as:
- Email security including phishing monitoring, impersonation defense, and account takeover protection;
- anti-virus, 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 MSP acquisitions allow Acrisure Cyber Services to offer:
- Microsoft products, licenses and Azure Cloud services
- Dell computers and components
- Cisco networking equipment and software
- 24-hour Microsoft help desk
- IBM hardware and software products and services
Acrisure Cyber Services President Bill Meara offered his perspective on the acquisitions:
“Cyber risk is a threat to organizations of all sizes, but small and mid-size companies are especially vulnerable to increasingly sophisticated attacks. Additionally, cyber insurance carriers are raising the bar for minimum protection needed to secure coverage. We provide a single solution that is customized to their unique risk profile, size, industry and more. Now, with Catalyst and ITS we’ve created a holistic IT solution.”
Acrisure Teams Up With the Pittsburgh Steelers
On the marketing and branding front, Acrisure has acquired the naming rights to the Pittsburgh Steelers’s team stadium. Formerly Heinz Stadium, the field will be known as Acrisure Stadium for the next 15 years.