Thursday 19 January 2023

US-based hosted IT services and solutions provider Abacus Group LLC, serving alternative investment firms, has acquired Gotham Security and GoVanguard, two boutique cybersecurity consulting companies, to expand offerings in cybersecurity, the company said.

Terms of the transaction were not disclosed.

Gotham Security, as the new business will be known, will be a subsidiary of Abacus Group but continue to operate independently.

The acquisition marks a milestone in Abacus Group's expansion from a security-focussed managed service provider to a full-bodied managed security service provider with an extensive suite of industry-leading cybersecurity services and products.

The deal will see Gotham Security supercharge Abacus Group's existing services portfolio with a wide breadth of cybersecurity consulting expertise.

Abacus Group will acquire a comprehensive set of information security capabilities to provide clients with real-world, actionable insight, including penetration testing, red teaming, tabletop exercises, risk and compliance gap assessments, and threat hunting services.

Lowenstein Sandler LLP served as legal counsel to Abacus Group, while Szaferman, Lakind, Blumstein & Blader, PC. Served as legal counsel to GoVanguard and Gotham Security on the transaction.

Abacus Group is a provider of hosted IT solutions and services focussed on helping alternative investment firms by providing an enterprise technology platform specifically designed for the unique needs of the financial services industry.