The cyber security scenario is constantly changing across the world. Cyber attackers are introducing new and sophisticated ways to attack, so there is a need for improved and inventive strategies to ward off those attacks. Market players are adopting various strategies to improve their capabilities and serve the existing client base in a better manner. They are adopting various strategies such as acquisition and partnership to enhance the overall capabilities and become a leading provider of cyber security solutions. The acquisition strategy enables the leading players in combining the expertise with the acquired company and serving the expanded customer base. In addition, the strategy helps in raising the stakes in the market.
Digital transformation, increased cloud adoption, and remote working culture are leading to vulnerabilities in endpoints and access. There are huge security risks and market players are joining forces with other players to mitigate such risks. The trend of partnerships has arrived in the cyber security space, and will continue to take place in the coming years. Following are some of the trends and ongoing activities across the world.
Acquisition is one of the major strategies adopted by market players to raise their capabilities by acquiring the resources of the company and widen their customer base. Fujitsu Limited and Fujitsu Australia and New Zealand acquired a New Zealand-based cyber security company InPhySec. This acquisition is aimed at improving the security services capabilities by availing the access of security consulting and services of InPhySec. In addition, this will provide the digital transformation products and services of Fujitsu to the customer base of InPhySec, which spans over different industries such as public sector, financial services, healthcare, defence, retail, and transport.
Commenting on the acquisition, Graeme Beardsell, the Executive VP and CEO for Fujitsu Asia-Pacific, highlighted that this acquisition will improve the managed services footprint in New Zealand by joining cyber security experts of InPhySec to the organization. By joining the Fujitsu team, InPhySec can introduce different world-leading solutions to its clients. Moreover, it will provide expertise to Fujitsu clients. With the global cyber threat scenario growing day by day, acquisitions like these will help in introducing the New Zealand’s homegrown technical expertise and capabilities to the world.
The trend of acquisition is expected to continue as tech giants are realizing the need to acquire companies to gain an international footprint and become a leading company. Allurity acquired the Spanish company Aiuken Cybersecurity for becoming one of the leading cyber security companies in the European region. Under the acquisition, Allurity will gain access to Aiuken’s SOC platform, cloud security, and SOC-as-a-service platform.
Highlighting the reasons behind the acquisition, Frida Westerberg, the CEO at Allurity, stated that Aiuken has a unique expertise and scalable tech platform along with high ambition. Allurity will support the company to reach their full potential and join the forces for fighting the cybercrime. Juan Miguel Velasco, the CEO at Aiuken Cybersecurity, outlined that it will join Allurity for making a long-term impact and growing in the cyber security market. It will contribute toward the continued expansion and provide digital assets through cyber security solutions. The strategy of acquisition helps both companies in growing and serving a wider consumer base. This will also result in the growth of the cyber security market in the coming years. According to the report published by Next Move Strategy Consulting, the global cyber security market is expected to reach USD 539.78 billion by 2030.
Tech giants are also adopting the strategy of acquisition to strengthen their capabilities. Google acquired a cyber security company Mandiant. The search engine giant carried out the acquisition for USD 5.4 billion. Under the terms of acquisition, Mandiant will join the team of Google Cloud for enhancing the management of threat, exposure, and incident. Commenting on the acquisition, Thomas Kuria, the CEO at Google Cloud, outlined that the company will continue to make every organization secure from cyber attacks by joining forces with Mandiant.
The combination of expertise of both companies will improve the cyber threat intelligence and offer security operations suite for helping organizations across the world stay secure. Both companies will enable organizations across the world reinvent will the changing security requirements. With the attack surface management capabilities of Mandiant, organizations can monitor the assets for exposure and take necessary measures to avoid and counter the threats. Such combination of expertise will help organizations in mitigating threats and keep their systems secure.
Along with the strategy of acquisition, many market players are adopting the strategy of partnerships for combining the expertise and achieve growth in various regions. NCS Group partnered with BeyondTrust for providing the best practical cyber security solutions in Privileged Access Management (PAM). These organizations aim to help various government and commercial organizations in Asia-Pacific in ensuring a solid cyber security and establish a path to a zero-trust security framework.
Ben Wong, the Director of Channel and Alliance in Asia-Pacific at BeyondTrust, outlined that increase in trend of digital transformation and surge in ransomware attacks are some factors that arise the need to provide solutions for safeguarding access to remote employees, secure identities, and consolidate the endpoint security in hybrid work culture. With the partnership, the companies aim to address cyber security challenges related to PAM. There is a need to employ advanced access management and endpoint security solutions. This partnership will help organizations across various industries in implementing PAM solutions through combination of skills and experience of both companies.