Abacus Group moving to become MSSP with Gotham buy

Managed service player wants to become known for security, and has made an acquisition to support that ambition

The volume of consolidation deals in the channel continues to be high as we go deeper into 2023, with a couple of transatlantic moves being struck in the past week.

Earlier this week, Manchester-based IT consultancy firm Intechnica Holdings was snapped up by US player Crosslake Technologies, and that has been followed by Abacus Group, which has operations across the US and London, bolstering its security position by picking up Gotham Security and its parent company, GoVanguard.

The plan is to run Gotham Security as a subsidiary of Abacus Group, operating independently, which should support Abacus’s ambition of becoming a managed security services provider (MSSP).

The firm has an established reputation as a managed services provider to alternative investment firms with the ability to deliver security, but has looked to take that further and position the business as a specialist in data protection and threat detection.

In terms of expertise, Gotham said more insights that customers can respond to, including penetration testing, red teaming, tabletop exercises, risk and compliance gap assessments, and threat-hunting services to the Abacus Group.

“This acquisition is a natural next step in a long working relationship with Gotham Security, as the businesses have been valued resources to each other and our clients over the last decade,” said Chris Grandi, CEO of Abacus Group. “It’s fantastic to now join forces and take further strides in our own expansion from MSP to MSSP.

“Abacus Group has always been committed to keeping our clients safe and secure, especially as the security and regulatory landscape continues to evolve in line with escalating cyber threats. Therefore, we are thrilled to be able to expand our cyber security capabilities and provide the full suite of services offered by Gotham Security to our customers and investors.”

Extending reach

The current Gotham leadership team will remain with the decade-old business with a brief to extend their reach to the existing Abacus customer base.

In response, Christian Scott, chief operating officer, chief information security officer and partner at Gotham Security, said it had a good knowledge of Abacus and that it would continue to focus on protecting customers from cyber threats.

“We continue to take pride in the best-in-class security insight we provide to our customers, but we’ve also listened closely to their growing demand for integrated technology solutions that fulfil an entire spectrum of security needs and requirements,” he said. “The complementary opportunities created by Abacus Group’s robust technology solutions and Gotham Security’s innovative cyber security services will provide greater value and more options than ever to our shared customer base.”

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