ITC Secure, a British MSSP that provides consulting, network and security services, has acquired the cybersecurity practice of business intelligence (BI) and cybersecurity firm G3 and Swedish investment company Kinnevik AB for an undisclosed sum.
The MSSP also plans to launch "a broader suite of cybersecurity capabilities created by the acquisition" later this month at the ITC Safe & Secure conference in London, according to a prepared statement.
What Does the Acquisition Mean for ITC?
With the acquisition, ITC adds G3's cybersecurity capabilities, client contracts and team to its organization, the company said. In addition, G3's existing clients will continue with their current levels of service, ITC stated, and benefit from the companies' "enhanced and combined offering."
G3's cybersecurity practice enables ITC to bolster its security consultancy and solutions-based offering, according to a prepared statement. It also allows ITC to provide custom data protection and cybersecurity programs to clients, the company said, and could help the business accelerate its global expansion.
Furthermore, the G3 cybersecurity practice acquisition continues the development of ITC and its capabilities after the MSSP was purchased by British investment management firm C5 Capital in November 2016.
C5 acquired ITC for £24 million (approximately $32.5 million). The firm identified ITC as its first acquisition and the foundational investment in its plan to provide outsourced cybersecurity services in Europe.
What Is ITC?
ITC was launched in 1995 by CEO Tom Millar and is headquartered in Docklands London. It provides the NetSure360° managed services platform to help organizations identify and address cyber threats.
NetSure360° is considered the "jewel in the crown" of ITC's security offerings, the company said. The platform delivers complete visibility, control and assurance over organizations’ key assets, ITC noted, and ensures the performance, security and reliability of mission-critical applications across an organization.
Also, NetSure360° delivers continuous real-time security assessments, according to ITC.
Organizations can leverage NetSure360° to perform simultaneous monitoring and management of tens of billions of events on thousands of devices from dozens of vendors and multiple network and security systems, ITC noted. That way, administrators, managers and business leaders have a clear view of a network and the threats facing it.