Acquired VAR Sysec says security a global game

UK McAfee partner confirms it has been purchased by ambitious Canadian powerhouse Herjavec Group

Cyber security is becoming a global game, the chief executive of UK security VAR Sysec has asserted following his decision to sell his firm to a Canadian counterpart.

As revealed by CRN, Sysec has been acquired by Herjavec Group as part of the Toronto-based security services firm's $250m (£164m) international expansion drive.

Talking to CRN, Sysec chief executive Cris Pikes confirmed that Herjavec Group harbours plans to expand into mainland Europe and Asia-Pac as it strives to become a global managed security services powerhouse.

Pikes said he first met owner Robert Herjavec, a former star of the Canadian version of Dragons' Den, at a McAfee partner conference in 2012.

"We'd collaborated on a few clients with presence in North America and the UK when Robert said, 'wouldn't it be great if we could build out a global strategy'," Pikes explained.

"There are a lot of niche boutique players out there but ultimately the issue of IT security is a global one that requires a global strategy and solution."

On top of the acquisition, Herjavec Group is in the process of building a London secure operations centre (SOC) designed to provide "follow-the-sun" technical support to its clients. It also expects to finalise construction of a Los Angeles SOC this quarter.

Herjavec Group's network of SOCs will see it draw on security information and event management (SIEM) tools to spot global trends and patterns before providing clients with pre-emptive, proactive support, Pikes claimed.

"Because we can see things on a global level we can remediate attacks before our clients have come online," said Pikes.

He emphasised that he will stay on at Theale-based Sysec, which immediately assumes the Herjavec Group name, "indefinitely".

"Every single member of staff is staying on and we are looking for people to skill up the London SOC, which should be up and running by July" he said.

"The ultimate vision is to build a global company, not just focused on North America but the EMEA region, going into Asia-Pac. The company is extremely profitable as most of its revenue is focused on managed services, so it's just a question of re-investment."

Further acquisitions are on the cards for Herjavec Group, which currently has 250 staff and annual sales of $140m, Pikes said.

"We don't want product shifters selling kit on a cost-plus basis," Pikes added.

"They would have to have professional services and the will to shift to managed services. Mainland Europe and the Middle East will be the next steps and – put it this way – I will be on a plane shortly."