Cybersecurity Europe

Sysnet Announces Third Acquisition in Five Weeks to Build on Global Growth Strategy

Sysnet Global Solutions, a provider of cybersecurity and compliance solutions, has announced that it has acquired NuArx, Inc. to further enhance Sysnet’s technology platform and accelerate its market expansion. NuArx, Inc. is a provider of PCI compliance, managed security and digital transformation solutions for the restaurant, convenience, grocery and retail industries throughout North America, and is headquartered in Southfield, MI.

The acquisition comes at a time when cyber-criminal activity is increasing drastically, significantly impacting businesses of all sizes. Recent reports show that Covid-19 has provided opportunities for cybercriminals to increase activity and innovation, a trend that threatens the stability and business continuity of many organisations. The addition of NuArx brings extensive compliance and security expertise for protecting the digital interactions of businesses and their customers. With over 4 million merchants and payment processors now in the Sysnet organisation, Sysnet has taken the lead in delivering cybersecurity and compliance solutions to organisations worldwide.

“The acquisition of NuArx by Sysnet is part of Sysnet’s growth strategy and helps position Sysnet at the forefront of security and compliance,” Gabe Moynagh, Chief Executive Officer of Sysnet said. “As organisations continue to strain under the ever-increasing onslaught of cyber-attacks, scalable cybersecurity platforms are needed so merchants of all sizes and locations can address emerging threats, while also achieving and meeting critical compliance mandates. NuArx bolsters Sysnet’s cybersecurity and compliance solutions and plays a critical role in helping our customers meet ever-increasing threats.”

The NuArx acquisition follows Sysnet’s recent acquisitions of the Managed Compliance Solutions (MCS) division of ControlScan and Viking Cloud. The combination of four cybersecurity powerhouses – Sysnet, NuArx, Viking Cloud, and ControlScan – creates a scalable platform for next-generation cyber defence with security consulting services delivered by the industry’s leading experts.

Commenting on this, a Sysnet spokesperson said: “By completing three acquisitions in quick succession, Sysnet is executing on its short-term strategy to become the global leader in cybersecurity and compliance for businesses of any size. In addition, these acquisitions are a logical next step to build for long-term success within our people, process and technology components. We are methodically choosing M&A activity that will provide the greatest benefit to both our customers and payments industry stakeholders.”

Rich Stanbaugh, Chief Executive Officer of NuArx, said: “The NuArx team is very excited to join Sysnet Global Solutions. Combining our teams, expertise and technology platforms is a big win for our customers, delivering a broader range of services and cutting-edge solutions with the same innovative culture and commitment to customer success.”

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