Global cybersecurity services provider Cyderes has acquired Ipseity Security, a Canadian company specializing in identity and access management (IAM). The financial terms of the deal were not disclosed.
This is technology M&A deal number 92 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
Cyderes, founded in 2003, is based in Kansas City, Missouri. The company has 764 employees listed on LinkedIn. Cyderes’ areas of expertise include information security, cybersecurity, managed security services, SIEM, cloud computing, and IT security. Cyderes is the MSSP founded and led by Shark Tank host Robert Herjavec.
Ipseity Security is based in Toronto, Ontario. The company has nine employees listed on LinkedIn. Ipseity’s areas of expertise include digital identity, access management, cloud security, cloud governance, privileged access management, privileged account management, data security, business process, cybersecurity, business analytics, identity management, access authentication, security, process optimization, cloud optimization, digital transformation, digital process, customer identity, customer access management, blockchain, security consulting, cyber resilience, access authentication, mobile security, zero-trust security, user management, single sign-on, IDaaS, and MFA.
About Cyderes: Global IAM Market
In addition to its Kansas City headquarters, Cyderes has four other locations across three countries, including Canada, England, and India.
The company is looking to solidify its position in the IAM market, which is projected to grow to $34.5 billion by 2028 at a compound annual growth rate (CAGR) of 14.5%, according to Fortune Business Insights.
That demand is being fueled in part by rising regulatory compliances and security concerns, as well as increasing integration of technologies like blockchain and artificial intelligence into IAM solutions, according to the research firm.
Cyderes Acquires Ipseity: Leadership Insight
Robert Herjavec, CEO and founder of Cyderes, commented:
"This acquisition is very exciting for us and more importantly, for our customers. It deepens our expertise in cloud identity, access governance, and privileged access management while allowing for further expansion of our services within the full IAM ecosystem and continues to enhance our ability to excel in complex multi-technology enterprise environments. Ipseity’s world-class engineering team is innovative and customer-centric – and that aligns with who we are as a company.”
Ketan Kapadia, managing director, Ipseity Security, said:
“Our clients rely on us to solve their toughest cyber and digital transformation challenges with speed, agility, and cost efficiency – and now as part of the ‘One Cyderes’ approach, we can deliver at a global scale.”
Omar Ahmed, VP, managing partner, Ipseity Security, added:
“From day one, our commitment to our clients has always been to improve their resiliency, even in turbulent times. Together with Cyderes, we’ve exponentially expanded this capability, and couldn’t be more excited about the future.”
