Abacus Group stands as an IT service provider specializing in alternative investment firms. Recently, the entity has successfully acquired both GoVanguard Gotham Security. The amount of money this purchase had cost Abacus has remained undisclosed.
Abacus Acquiring Gotham Security’s Offerings
This acquisition will see the new business operate under the Gotham Security name and will stand as an Abacus Group subsidiary. However, it’s been stipulated that this new business will maintain its independent operation, with the same leadership team leading the company after the acquisition.
Abacus Group gave a public statement about the matter. In the statement, Abacus Group declared the acquisition to be a milestone when looking at its efforts to expand to a managed security service provider (MSSP), moving on from being a managed service provider (MSP).
All In The Cloud
Abacus Group’s business model focused primarily on having investment firms utilize its platform in order to host their operation. These investment firms do it via the cloud, with all their technology needs sourced by Abacus as a service. According to Abacus, this business model allows the companies in their services to quickly scale up their operations to meet demands in storage, compliance, and cybersecurity.
With the acquisition of Gotham Security and its GoVanguard parent company, Abacus Group will be capable of further expanding its services within the cybersecurity space. This expansion will allow Abacus to provide red teaming, penetration testing, risk, and compliance gap testing, as well as tabletop exercises and threat-hunting services.
Founded back in 2013, Gotham Security has its headquarters within New York. At the time of writing, the firm claims to be working with a “growing number” of various Fortune 1000 companies, spread across every major sector of business. According to Gotham, this includes significant insurance providers, multi-billion dollar hedge funds, and international options trading exchanges. This isn’t an exhaustive list, according to Gotham.
Eager Moving Forward
Chris Grandi stands as the CEO of Abacus Group, and gave a public statement about the matter. He described the acquisition as a natural step within the long-time working relationship between Abacus and Gotham Security. He described the relationship between the two businesses prior to the acquisition, claiming that the two companies were valuable resources to each other throughout the decade.
Grandi emphasized his company’s commitment to maintaining the security of their clients, highlighting how the regulatory and security landscape constantly shifts and grows in these interesting times where cybersecurity threats only evolve forward. Grandi explained that these reasons make Abacus Group quite thrilled about the expansion of their cybersecurity abilities, providing Gotham Security’s full suite of services to Abacus’ clients.
Time will tell how successful this acquisition is, but cybersecurity is something that will always be in demand as long as there are two computers connected to each other. With the constant evolution and battle between malicious hackers and cybersecurity experts, it’s always wise to have your own crack team of cybersecurity experts to try and help with the problems of the modern age.