Adar, an IT managed service provider for compliance-based businesses and the independent insurance agency and broker marketplace, has acquired cybersecurity firm Rigid Bits, the companies announced July 20.
This is technology M&A deal number 661 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
MSP Adds Insurance Industry Expertise
Adar, headquartered in Lincolnwood, Illinois, has 32 employees, according to its LinkedIn profile. Adar describes its business as that of “an IT managed services provider (MSP) with deep roots in compliance-based businesses. Additionally, “Adar pairs cutting-edge cloud-based infrastructure, user desktops and tools with security and support to maximize operational efficiency.”
Rigid Bits, located in Longmont, Colorado, has a staff of approximately 11-50 people, according to LinkedIn.
According to its website, Rigid Bits’ key offerings include:
- Cybersecurity program development
- HIPAA compliance
- Penetration testing
- Vulnerability assessments
- Email security
- Security awareness training
Adar said the addition of Rigid Bits “rounds out its vision to provide the most comprehensive, accessible and secure cloud-based VDI platform and ITaaS solutions.”
Company Leaders Acclaim Acquisition
Adar President John Mario explained the advantage of the Rigid Bits acquisition:
"With the ever-evolving complexity of cyberattacks, expanding compliance requirements, and the need to support remote work, cybersecurity is more relevant now than ever. Many businesses struggle to find a trusted partner to meet their needs. Together with Rigid Bits, we continue to enhance and differentiate our value proposition for customers."
Jeff Oden, Rigid Bits’ founder and CEO, added:
"I am thrilled at the unique opportunities for both Adar and Rigid Bits as well as for our clients. Our combined forces enable us to address the common technology gaps we frequently encounter. At the same time, our operational independence ensures we can offer cybersecurity services ethically to Adar's current and future clients."
Oden will join Adar's leadership team as vice president of Information Security, taking a leadership role within products and services relating to cybersecurity and compliance. Ryan Smith, an insurance industry veteran and Vertafore alumnus, will join as Adar as vice president of Sales and Marketing.