Saturday, Jan 28, 2023
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Sysnet makes new acquisition as part of growth plan

Sysnet Managed Compliance Solutions_IF_Image
The company is a leading provider of cybersecurity and compliance solutions for small and medium businesses

Sysnet Global Solutions, the leading provider of cyber security and compliance solutions for SMBs, has acquired the Managed Compliance Solutions (MCS) division of ControlScan. ControlScan is a U.S. leader in managed security services specialising in compliance, detection and response. Terms of the deal were not disclosed.

The acquisition establishes Sysnet as the largest provider of compliance and security management services to almost 4 million small and medium-sized businesses (SMBs) and payment processing organizations worldwide. 

The acquisition comes at a time when SMBs find themselves more vulnerable than ever before to online security attacks. Security issues were already on the rise last year according to the latest research from Ponemon Institute, with regions such as the U.seeing instances increasing by as much as 21% year-over-year. Challenges have since intensified with the emergence of COVID-19, as SMBs became more reliant on online channels in order to survive the pandemic and lockdown measures imposed internationally.  

“Sysnet and ControlScan have worked alongside each other for a number of years. The acquisition of ControlScan MCS is part of Sysnet’s strategic growth plan, but more importantly, is the perfect fit at the right time for the industry,” Gabe Moynagh, CEO of Sysnet, said in a statement. 

“We share a similar culture and an uncompromising demand for excellence. We believe bringing ControlScan MCS under the Sysnet umbrella means we will be able to help more merchants than ever at a time they need it most.”

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