M&A: MSSP Sells ATM Security Software Business to Auriga
S21sec, a European MSSP (managed security services provider), has sold its ATM (automated teller machine) security and software business to Auriga, a provider of omnichannel banking and payments solutions. Financial terms were not disclosed.
This is M&A deal number 182 that MSSP Alert and sister site ChannelE2E have covered so far in 2020. The pace of deals has slowed a bit since the coronavirus pandemic emerged, but overall M&A activity remains reasonably steady. See the complete M&A deal list here.
In this particular deal, Auriga gains S21sec’s Lookwise Device Manager (LDM) software business. LDM will tuck into Auriga’s software suite for protecting, monitoring and controlling such networked devices as ATMs, POS (point of sale) terminals, and critical infrastructure control systems.
Auriga Acquires LDM From S21Sec: Executive Perspectives
Commenting on the deal, Auriga Founder and CEO Vincenzo Fiore said:
“Ever growing targeted attacks on self-service banking infrastructure are hugely disruptive and undermine trust in digital banking services. By making LDM an integral component of our own software portfolio we can significantly build the most effective cyber risk management and security capabilities for our clients that protect growth in digital financial services across all channels.”
Added Agustin Munoz-Grandez, CEO of S21sec:
“We are delighted that our ATM security technology and business unit will become an integral part of Auriga, a company that is very aligned with S21sec’s own spirit of innovation spirit and focus on striving for excellence. We look forward to supporting Auriga and its clients in making self-service banking safer and even more protected from cyber-attacks in the future. As an added value to this operation, S21sec and Auriga will also be collaborating to offer additional cybersecurity services to financial institutions.”
Concluded Carlos Moreira da Silva, director at Sonae IM — the investor parent of S21sec:
“We are very pleased with this operation between Auriga and S21sec. Since the investment in S21sec back in 2014, we’ve been supporting the development of technologies and capabilities within the company to address the most emerging and advanced cybersecurity market needs. We’re very glad that Lookwise Device Manager has developed not only as a very strong technology for protecting ATM machines and critical devices, but also as an independent business unit, with strong customer references across the globe, allowing it now to be supported by such a leading supplier in the banking and payments industry as Auriga.”
Meanwhile, S21sec will continue its MSSP business expansion across Spain, Portugal and the Americas. S21sec’s managed security services span identify, protect, detect, respond and recover capabilities.