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Fintech firm Acrisure buys two managed service providers

US-based fintech company Acrisure has purchased two managed service providers (MSP) with an aim to enhance its cyber services portfolio.

The deal includes the acquisition of Catalyst Technology Group and ITS, both of which are set to join Acrisure’s cyber services division.

With headquarters in Indianapolis, US, Catalyst Technology Group provides enterprise-level information technology (IT) solutions, which are specialised in streamlining procedures, for small-and-medium size industries.

Based in Bar Mills, ITS offers IBM system design as well as integration and consulting solutions. The company primarily serves manufacturing, distribution, healthcare, and education sectors.

Financial and other terms of the latest deals have not been revealed.

Acrisure co-founder, chairman and CEO Greg Williams said: “Catalyst and ITS are entrepreneurial organisations with strong leadership and deep customer relationships.

“Our clients will greatly benefit from an expanded Cyber Services offering with these capabilities added to our solution.”

Acrisure noted that its cyber services division uses improved security tools, artificial intelligence (AI) methods and cloud-native infrastructure to help clients reduce their risks.

With the new deal, Acrisure aims to deliver Microsoft products, licenses, and Azure Cloud services to its clients.

Customers are also expected to receive Dell computers and components, Cisco networking equipment and software as well as install and support services, among others.

Acrisure Cyber Services president Bill Meara said: “Cyber risk is a threat to organisations of all sizes, but small and mid-size companies are especially vulnerable to increasingly sophisticated attacks.

“Additionally, cyber insurance carriers are raising the bar for minimum protection needed to secure coverage.

“We provide a single solution that is customised to their unique risk profile, size, industry and more. Now, with Catalyst and ITS we’ve created a holistic IT solution.”

Last month, Acrisure announced that it had bought UK-based independent specialty broker Russell Scanlan for an undisclosed sum.

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