Simpson Associates, a UK-based managed data service provider, has acquired Bleam Cyber Security for managed detection and response (MDR) and MSSP services. Financial terms of the deal were not disclosed.
This is M&A deal number 523 that MSSP Alert and ChannelE2E have covered thus far in 2021.
Simpson Associates Acquires MDR and MSSP Expertise: Background
Bleam will operate as a separate division of Simpson and launch MDR and other managed security services, the companies said. Together, Simpson and Bleam will expand their solutions and provide UK organizations with data analytics and cybersecurity support.
Bleam is a UK MSSP and information security consultant. It provides a variety of SaaS-based managed security services, including:
- Network security
- Vulnerability management
Bleam also offers compromise and cybersecurity assessments and incident response services.
This appears to be a small tuck-in deal for Simpson Associates. Indeed, Bleam only has one employee listed on LinkedIn. Simpson Associates has 58 employees listed on the social media network.
MDR Mergers and Acquisitions in 2021
M&A activity in the MDR and MSSP markets remains steady and strong. Recent example deals include:
- June 2021: Pondurance acquired Bearing Cybersecurity to enhance its MDR services.
- March 2021: Kroll acquired Redscan, a Top 40 MDR service provider.
- January 2021: Huntress acquired Level Effect's endpoint detection and response (EDR) technology.
The global MDR services market generated $893.8 million in revenues in 2019, and sector revenues are expected to reach $1.9 billion by 2024, according to industry analyst Research and Markets. As demand for MDR services grows, M&A activity across the sector could increase as well.