CBIZ, a financial, insurance and advisory services company, has purchased professional advisory firm Stinnett & Associates for an undisclosed sum. The transaction was finalized July 1, 2022.
This is technology M&A deal number 622 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
CBIZ, founded in 1987, is based in Cleveland, Ohio. The company has 3,587 employees listed on LinkedIn. CBIZ's areas of expertise include employee management services, financial management services, technology management services and property and casualty insurance.
Stinnett & Associates, founded in 2001, is based in Tulsa, Oklahoma. The company has 102 employees listed on LinkedIn. Stinnett & Associates' areas of expertise include IT, business process improvement, governance, risk and compliance (GRC), business continuity planning and risk consulting.
What Does the Stinnett & Associates Acquisition Mean for CBIZ?
Stinnett & Associates aligns with CBIZ's long-term growth strategy, CBIZ CEO Jerry Grisko said. It strengthens CBIZ's advisory services for cybersecurity and Sarbanes–Oxley Act compliance.
In addition, Stinnett & Associates plans to expand its solutions, Managing Director Melinda Stinnett said. It also will provide growth and development opportunities to bolster its team.
A Closer Look at Stinnett & Associates and CBIZ
Stinnett & Associates helps organizations assess, identify, implement, defend and report on their cybersecurity posture, the firm noted. It offers the following information security advisory services:
- Application security
- Cybersecurity Maturity Model Certification (CMMC)
- Consulting
- Incident response
- Infrastructure assessments
- Penetration testing
- Supervisory control and data acquisition (SCADA) and industrial controls systems (ICS) assessments
- Training
- Vulnerability assessments
Stinnett & Associates reports that it generates approximately $16.4 million in annual revenue. It does not currently offer a channel partner program.
CBIZ provides financial and benefits and insurance services to more than 82,000 customers across the United States. It does not provide a channel partner program but may look to offer one in the future.
