SilverSun Technologies, an East Hanover, New Jersey-based IT solutions and managed service provider, has opened a security-as-a-service operation with CyberHat, an Israeli security operations center (SOC)-as-a-service specialist.
The security portfolio offered by SilverSun and CyberHat will include the latter’s Cyrebro SOC-as-a-service, incident response (IR), cybersecurity assessments, and hacking simulations. The partners said their new practice will focus on compliance-driven and regulated industries. SilverSun works with small- and medium-size businesses (SMBs) in the manufacturing, distribution and service industries, operating case-by-case as a value-added reseller, a software developer and an MSP.
There’s clear benefits to the collaboration for both parties, each company’s CEO said. SilverSun gains a ready-made SOC and delivers to CyberHat geographic and market expansion in North America. In addition, the partnership enables SilverSun to provide an affordable enterprise-level security service to the mid-market and also opens up opportunities to land accounts with larger customers, officials said. There doesn’t appear to be much overlap between the partners’ target markets. CyberHat serves customers in financial services, retail, telecom, and energy and infrastructure industries.
“SilverSun's new security offering goes well-beyond managed services to provide the highest-level security operations service available, ensuring a pro-active security posture and incident response team for our clients," said Mark Meller, SilverSun CEO.
Nadav Arbel, CyberHat CEO, said the deal will “extend the capabilities and market reach of our SOC to the SMB marketplace in North America. SilverSun's status as a leading MSP is indicative of their ability to expand our SOC operations to prospects and partners that we might not otherwise have pursued.”
Meanwhile, SilverSun said the its wholly-owned SWK Technologies, a Top 100 Vertical Market MSP, has acquired Info Sys Management, a 17-year old, Portland, Oregon-based reseller of Sage Software and Acumatica solutions and hosting service provider for business applications. SWK paid $1.7 million for ISM and its affiliate. The deal will be effective June 1, 2018.
Earlier this month, SilverSun reported a 16 percent climb in revenue to $9.3 million for its Q1 ended March 31, 2018. Its software sales spiked by 80 percent to $1.6 million and its services revenue rose eight percent to $7.7 million. The company’s net income for the period slid 62 percent to $58,387 from the year ago quarter.