MSSP Haven Cyber Technologies has acquired Onevinn, a Swedish company that provides Microsoft cloud security services, for an undisclosed sum. The Onevinn acquisition comes after Haven recently purchased network security consultancy ITC Secure.
The Onevinn acquisition enables Haven to incorporate Microsoft cloud security services into its portfolio, according to the company. It also puts Haven in position to make additional acquisitions in 2019.
Haven Announces Board of Directors
In addition to the Onevinn acquisition, Haven has unveiled a board of directors that includes the following members:
- Olivier Weddrien: Former CEO of German capital market firm DZ Equity Partner.
- Christoph von Falck: Group CEO of Haven.
- Andre Pienaar: Founder of technology-based investment firm C5 Capital.
- Sir Mick Davis: Former CEO of mining company Xstrata.
- Mike Garland: Former partner at global private equity fund Permira.
- Mark Testoni: CEO of SAP National Security Services (SAP NS2)
- William Kilmer: Former CEO and chairman of Public Engines, a crime, reporting and analytics solutions company, and managing partner at C5 Capital.
Haven is a European pure-play cybersecurity services provider. It offers both managed security and security consulting services and could soon accelerate its growth in the global cloud security services market.
MSSP Acquisitions: Activity Appears Strong
A growing list of MSSPs have been acquired in recent months. The deals include:
- February 2019: French telecommunications company Orange acquired SecureData, an MSSP and the UK’s largest independent cybersecurity services provider.
- December 2018: ConnectWise acquired Sienna Group, a managed security services provider (MSSP) that helps MSPs & technology solutions providers to drive down risk & boost recurring revenues.
- October 2018: Top 100 MSSP and PCI compliance expert ControlScan acquired Dunbar Cybersecurity, gaining managed detection and response (MDR); SIEM and SOC capabilities.
- October 2018: Top 100 MSSP Trustwave gained deeper advisory services expertise in Australia as sister company Optus Cyber Security acquired Hivint. Singtel (parent to Trustwave & Optus) confirmed the deal.
- August 2018: ADT acquired Secure Designs Inc. (SDI), a well-known MSSP that manages SonicWall firewalls and other security equipment for small business customers.
A Closer Look at the Global Cloud Security Services Market
The global cloud security services market is projected to expand at a compound annual growth rate (CAGR) of 13.9 percent between 2014 and 2024, according to industry analyst Grand View Research. Key factors expected to drive this market's growth include:
- Increasing cloud adoption among global organizations.
- Growing number of security threats and cyberattacks.
- New investments in cloud infrastructure.
- Rising demand for security services and policies.
- Data security compliance mandates.
As organizations search for ways to secure data and assets stored in the cloud, the demand for cloud security services could increase. Meanwhile, Haven and other MSSPs that prioritize cloud security investments could capitalize on the rising demand for cloud security offerings.