MSSP Acquired: Avertium Buys 1440 Security
Avertium, backed by private equity firm Sunstone Partners, has acquired 1440 Security. The deal unites two Top 200 MSSPs (managed security services providers) with complementary cybersecurity skill sets. Financial terms of the deal were not disclosed.
Both Avertium and 1440 Security are high performers recognized on MSSP Alert’s Top 200 list for 2020, which will be released on September 17.
Avertium offers managed security and consulting services to mid-size and large enterprises. 1440 Security is a close LogRhythm partner with a 24×7 security operations center (SOC) in Colorado. The combined company has three CyberOps Centers of Excellence (CCOE), and also dives deeper into extended detection and response (XDR).
Avertium’s overall cybersecurity services portfolio now spans:
- XDR services such as managed endpoint detection and response (EDR), managed vulnerability management, and managed zero trust networking
- Support for LogRhythm, Sophos, Splunk, SentinelOne, AT&T Cybersecurity and Wazuh
- Digital forensics and incident response
- Security and risk assessments
- Compliance and governance [HIPAA, PCI DSS, SOC 1-3, NIST, HITRUST]
- Strategic advisory and cyber program augmentation capabilities
Avertium’s customer base now spans 2,500 companies.
Avertium Acquires 1440 Security: Executive Perspectives
In a prepared statement about the deal, Jeff Schmidt, CEO of Avertium, said:
“What impressed us most about the team at 1440 Security is their exemplary culture of integrity, and the overwhelmingly positive customer feedback about the company’s commitment to keeping customers’ networks, data and other critical assets safe. This shared singular focus along with their technical LogRhythm expertise make them excellent additions to the Avertium team.”
Added 1440 Security president Brian Bilodeau:
“Cybersecurity, specifically SIEM and SOC-as-a-Service, is our business and we are constantly looking for ways to deliver more value to our customer. For 1440 Security, this acquisition means continued investment in core cyber competencies while expanding what we can offer existing customers with Avertium’s extensive suite of cybersecurity consulting services – from governance and compliance to strategic advisory services to digital forensics and incident response.”
Concluded Mark Logan, president and CEO of LogRhythm:
“At the heart of our business is ensuring the security of our customers’ systems and data. Partners like Avertium are a key part of that philosophy. I am excited that long-time LogRhythm partner 1440 Security will join with Avertium and together bring their combined expertise to customers that want to take their security program to the next level.”
MSSP Mergers and Acquisitions
M&A activity among MSSPs and MDR (managed detection and response) service providers remains especially strong. Here’s a complete MSSP M&A deal list.