IT consulting giant Atos is acquiring Paladion, a managed security services provider (MSSP) that has managed detection and response (MDR) and security operations center (SOC) capabilities, the companies have disclosed.
Paladion, founded in 2000, ranks among the Top 20 MDR Providers and Top 200 MSSPs worldwide, MSSP Alert reports. The company has more than 800 employees and services roughly 400 customers in 12 countries. The MSSP and MDR provider generated about $29 million in revenue in 2019. True believers include Wipfli, an accounting and consulting firm that partnered with Paladion in 2019.
Paladion Security Delivery centers in United States, Middle East and India will join the wide network of Atos global SOCs, the companies say. Also, Paladion's intellectual property aligns with Atos capabilities in artificial intelligence, threat and risk-based analytics, the companies say.
Atos Acquires Paladion: Executive Perspectives
In a prepared statement about the deal, Atos Senior Executive VP Pierre Barnabé said:
“Atos was looking for the right and solid asset to enter an emerging and yet very competitive market, that of Managed Detection & Response. We found with Paladion a mature team and advanced technology built to deliver outcomes and reduce customers risks. Their cloud-native technology will be an asset for our expansion strategies in cybersecurity and cloud solutions, providing our customers with accelerated business transformation. Paladion is truly customer-centric and displays extremely high customer retention, which is in line with Atos’ values.”
Added Rajat Mohanty, CEO at Paladion:
“We believe this is an industry-defining deal, combining the scale and resources of Atos in managed security services with Paladion’s cloud-delivered managed detection and response technology. We are excited to join forces with Atos and together become the cybersecurity provider of choice for global organizations in their digital journey.”
The deal is expected to close in Q4 2020.
More Merger and Acquisition Activity
Atos has been active in the M&A market. The company has purchased firms focused on artificial intelligence, public cloud services, analytics, automation, and healthcare IT services. Additional deals have involved ServiceNow and Google Cloud Platform (GCP) partners. See this regularly updated list of Atos M&A deals for more information.
Meanwhile, M&A activity in the MDR market remains steady to strong. See this regularly updated list of MDR M&A deals for more information.