Sysec set to be acquired by Canadian suitor - sources

Herjavec Group will open up UK SOC after acquiring top McAfee partner, according to industry whispers

Canadian IT security reseller Herjavec Group is preparing to swoop into the UK by snapping up top McAfee partner Sysec, CRN understands.

Although confirmed by neither company, sources tell us the Toronto-based firm is on the verge of acquiring Sysec and opening a UK secure operations centre (SOC) as part of its $250m (£166m) international roll-up.

Sysec would represent the latest in a string of acquisitions designed to position Herjavec Group as a pan-North American and global competitor to US-based FishNet Security, which recently merged with rival security VAR Accuvant, according to those familiar with the matter.

CRN understands that a deal could be announced as soon as tomorrow.

Last September, privately held Herjavec Group – which was founded by Canadian entrepreneur Robert Herjavec – acquired Toronto-based managed security services provider Sentry Metrics, its second acquisition of the year.

Theale-based Sysec, which is one of only 13 McAfee Elite partners in the UK, would provide the firm with a beachhead into Europe, a source said, adding that plans are already afoot to open an SOC in London.

Sysec has made no secret of its desire to acquire or be acquired, with chief executive Cris Pikes arguing back in 2011 that mid-sized resellers with a turnover of £5m and without ambitions to grow face a bleak future.

If true, Sysec would be just the latest in a long line of boutique UK security VARs to sell up to a more generalist or international rival, following – for example – the sale of NTS to Capita, Security Partnerships to Bytes, GSS to MTI and Vistorm to EDS/HP.

Sysec was unavailable for comment as CRN went to press.