SilverSky, an MSSP and managed detection and response (MDR) provider, has purchased Advanced Computer Solutions Group (ACSG) to push deeper into the education vertical and cybersecurity services for schools. Financial terms of the deal were not disclosed.
The ACSG acquisition is M&A deal number 503 that MSSP Alert and ChannelE2E have covered thus far in 2021.
SilverSky Acquires ACSG: About The Buyer and Seller
About the Buyer: SilverSky has 263 employees listed on LinkedIn. SilverSky is backed by a private investor group and management team members who acquired the SilverSky business from BAE Systems in 2020. SilverSky, essentially a Top 250 MSSP while under BAE Systems’ ownership, was formed in 2013 through the combined assets of Perimeter eSecurity and USA.NET.
SilverSky’s annual revenues were roughly $50 million in 2020, and the company supports more than 3,000 customers worldwide. Key SilverSky focus areas include compliance-minded customers such as banks, credit unions, financial institutions, healthcare and insurance organizations.
About the Seller: ACSG has 28 employees listed on LinkedIn, and has appeared on the Inc. 5000 annual list of America's fastest-growing companies three times. ACSG grown more than 80 percent over the past three years, the seller indicated, though actual revenue dollar figures were not disclosed.
Under terms of the deal, ACSG CEO Justin Jackson transitions to CTO of Silversky.
A Closer Look at ACSG
ACSG expands SilverSky's portfolio of MDR offerings for the education sector. Indeed, ACSG provides cybersecurity solutions to K-12 and higher education institutions. The company's cybersecurity solutions include:
- Email Archiving: Delivers a cloud-based email archiving appliance to help users comply with email security requirements.
- Password Management Utility: Offers a cloud-based, self-service password management portal that enables users to autonomously reset or change their passwords or unlock their accounts.
- Visitor Entry System: Provides a cloud-based, visitor entry management portal that allows users to track visitors any time they enter or exit a building and generate visitor reports.
ACSG also serves government municipalities, private industry organizations and small businesses.
SilverSky Acquires ACSG: Executive Perspectives
In a prepared statement about the deal, SilverSky CEO Richard Dobrow said:
"We are pleased to announce SilverSky's acquisition of ACSG and Justin's appointment as our CTO. Not only does the addition of ACSG bring significant relationships within the education market, but Justin's proven technological expertise also offers distinct leadership as we expand our stance as one of the most trusted MDR providers in the cybersecurity space."
"In my new role as CTO at SilverSky, I look forward to working alongside some of the great minds in our industry while building upon the company's robust and time-tested XDR and MDR offerings. SilverSky enjoys the trust of many customers within industries targeted by hackers – and I hope to harness my deep technical skillset to bring more and more opportunities to add value to SilverSky customers."