Optiv Security's European Strategy: The Statement
Still, Optiv is exercising M&A restraint in Europe until valuations normalize, the company says. An extended statement from the company reads:“In January 2018, we expanded our global footprint to the U.K., predicated on a strategy of growth by acquisition. Optiv evaluated ~40 different European companies and simply couldn’t justify the high valuations of these companies.
After a comprehensive strategic review, we’re downsizing our London-based organic operations. We remain committed to serving the European market, clients, partners and prospects.
Operations and investment in Canada and India are not impacted. In fact, we’re expanding our space in both locations. We’re working to open Optiv’s first Canadian-based security operations center (SOC) in Q1 2020 and we’re exploring the possibility of leasing an additional floor in our Bangalore office to accommodate as many as 70 additional new hires on our India team next year.
Optiv has a proud history of serving clients in Europe and in 70+ countries around the world, and that is not changing. We plan to consider M&A opportunities again in the future, once European valuations right size.
We remain 100 percent committed to our international strategy and to delivering innovative cybersecurity solutions that create simplicity and confidence for clients around the world.”