Financial terms of the transaction were not disclosed.
This is technology M&A deal number 231 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Zurich, founded in 1872, is based in Schaumburg, Illinois. The company has 8,921 employees listed on LinkedIn. Zurich specializes in commercial insurance.
SpearTip, founded in 2005, is based in St. Louis, Missouri. The company has 59 employees listed on LinkedIn. SpearTip's areas of expertise include threat identification and response.
Zurich Adds Cyber Risk Management Support
SpearTip supports ZRS customers as they deal with a challenging cyber risk landscape, Zurich noted. The company will assist Zurich's team of cyber risk management specialists who provide objective assessments of organizations' cybersecurity posture and threat environments. It also will help organizations identify cyber risks and vulnerabilities across the following areas:
- Managed detection and response (MDR)/Security operations centers (SOCs)
- Incident response, including digital forensics
- Advisory services
In addition, Zurich adds SpearTip's cyber technical capabilities to its portfolio. This enables Zurich to deliver a "full-suite offering" to its customers, ZRS VP of Cyber Risk Services David Shluger said.
A Closer Look at Zurich's Cyber Risk Management Services
Zurich provides a cyber risk management team that operates in alignment with the principles of the National Institute of Standards and Technology (NIST) Cybersecurity Standards for network and data protection and other industry frameworks, the company stated. This team helps organizations develop and manage a cybersecurity architecture built on three pillars:
- Technology that is designed, updated and maintained to protect against cybercriminals
- People who understand cyber threats and receive training and coaching that they can use to defeat them
- Process that involves combining risk management practices with up-to-date cybersecurity approaches
Zurich offers a ransomware threat assessment, risk advisor and other cyber risk management services. Along with these, Zurich provides security monitoring, system penetration testing and other technical security services.