Cerberus Sentinel acquires managed service provider VelocIT
Cerberus Cyber Sentinel Corporation today announced that it has acquired managed service provider VelocIT for an undisclosed sum.
Based in New Jersey, VelocIT offers a suite of managed IT products that are pitched as providing enterprise solutions and experience to small and medium-sized business owners. The company provides a range of support modules that can be tailored to specific needs.
VelocIT offers a full range of MSP services, including help desk, server and email management, firewall and virtualization management, endpoint backup and encryption, cybersecurity and business continuation.
The company supports over 10,000 workstations worldwide, with customers ranging in size from five to 7,000 workstations.
Under the terms of the agreement, VelocIT will become a wholly-owned subsidiary of Cerberus Sentinel and will continue to focus on providing integrated risk-managed services to a diverse set of national customers. Under the deal, VelocIT President Darek Hahn and Chief Operating Officer Glenn Kupsch will take on executive positions at Cerberus Sentinel.
“VelocIT offered us an attractive model for managed security services and consulting services,” David Jemmett, chief executive officer and founder of Cerberus Sentinel, said in a statement. “VelocIT will further enable our differentiation in the marketplace and continue expanding our expertise and offerings in the cybersecurity field.”
Cerberus Sentinel itself is an over-the-counter listed provider of cybersecurity consulting and management services. The company was last in the news when it acquired cybersecurity assessment firm Clear Skies Security LLC in September.
The acquisition of smaller companies is part of Cerberus Sentinels’ expansion plans. In its own words, it “seeks to expand by acquiring world-class cybersecurity talent and utilizes the latest technology to create innovative solutions that protect the most demanding businesses and government organizations against continuing and emerging security threats.”
According to Crunchbase, Cerberus Sentinel has previously raised $650,000 in a single seed round. Despite having only raised a small sum through venture capital, the company has a market cap of $706.8 million.
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