- Cybersecurity is a top concern for corporations around the world
- CISO signed an acquisition agreement to expand services into South America
- CEO notes that “cybersecurity requires global capabilities to properly address the security demands of businesses and organizations”
For the second year in a row, cybersecurity and potential cyber incidents are a leading worldwide corporate risk concern. In its continued commitment to provide global services and solutions, Cerberus Cyber Sentinel (NASDAQ: CISO), rebranding to CISO Global, is expanding its existing footprint in Latin America. This move is in keeping with global cyber demand and is seen as a strategic move to address the increasing frequency and cost of cyber incidents worldwide.
Cybersecurity Dive recently noted that “both cyber and business interruptions were the top concerns” for the 2,712 risk management experts surveyed in an Allianz study. The reality is that these incidents translate into hard costs for affected organizations. The most recent IBM Cost of a Data Breach Report shows that last year, the average cost of a data breach hit a record $4.35 million, and the average is expected to surpass $5 million this year. Those incidents add up to a staggering global spend, reaching $1 trillion worldwide, with cyber incidents being considered the “top risk” in 19 countries, including France, Japan, India, the United Kingdom and Canada (https://ibn.fm/Ta4QB).
The article also highlighted who in the marketplace is paying attention to these trends: “The potential threat of ransomware and data breaches has gained the attention of worldwide corporations.” Cybersecurity providers who can help companies unify their approach to network management, cybersecurity, and compliance will be best positioned to address these growing concerns.
With its eyes on continuing to expand its global, unified cybersecurity offering, Cerberus Cyber Sentinel Corp. recently signed a definitive agreement for the acquisition of RAN Security, a cybersecurity company with headquarters in Buenos Aires, Argentina, and offices in Chile, Peru, Bolivia and Paraguay. The company reported that under the terms of the agreement, which is slated to close later this year, RAN Security will become a wholly owned subsidiary of Cerberus Sentinel (https://ibn.fm/9yLWU).
“RAN Security expands our growth strategy in Latin America and adds to our SOC/managed detection and response services,” said Cerberus Sentinel CEO and founder David Jemmett. “Cybersecurity requires global capabilities to properly address the security demands of businesses and organizations. RAN Security is an excellent cultural fit with the Cerberus Sentinel family of companies.”
The announcement noted that RAN Security, which will continue to be based in Argentina, “is part of a growing network of companies acquired by Cerberus Sentinel in Latin America, including Arkavia, CUATROi and NLT, to meet the cybersecurity needs of organizations across the continent.”
Since 2019, the company has grown on three continents: North America, South America and Europe. The company has built a reputation for being an industry leader as a managed cybersecurity and compliance provider. The company is rapidly expanding by acquiring world-class cybersecurity, secured managed services and compliance companies with top-tier talent that utilize the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations.
For more information, visit the company’s website at www.CerberusSentinel.com.
NOTE TO INVESTORS: The latest news and updates relating to CISO are available in the company’s newsroom at https://ibn.fm/CISO
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