CBIZ has announced the strategic acquisition of information security consulting firm Pivot Point Security for $6.6m.
CBIZ acquired Pivot Point for $6.6m. A significant investment underpinning the company’s ongoing commitment to the expansion of their cybersecurity services. Pivot Point has been offering its services to small and medium-sized enterprises since its inception in 2001.
PPS specialises in helping businesses navigate the intricate maze of information security and compliance. Their offerings include certification and compliance preparations for significant U.S. and international regulatory frameworks, vulnerability assessments, penetration testing, and vendor risk management. They also offer consulting services, including an outsourced virtual Chief Information Security Officer. Boasting a skilled team of 30 employees, PPS recorded a revenue of $6.6m in 2022.
With this funding, CBIZ intends to amplify the breadth and depth of their cyber and security services, benefitting their clients across the United States. This move follows a longstanding search for a company to augment CBIZ’s capabilities in this domain.
Jerry Grisko, president and CEO of CBIZ, warmly welcomed the PPS team, expressing his confidence in their capacity to enhance the company’s services. “The acquisition of Pivot Point significantly increases the depth of expertise and scope of the cyber and security services that we provide to our clients. We have long been searching for the right firm to enhance our services in this area. In Pivot Point, I am confident that we found the right team and we are very pleased to welcome them to CBIZ.”
John Verry, a representative of PPS, echoed Grisko’s enthusiasm about the acquisition. “We are very excited to join CBIZ. Being a part of a premier national advisory services provider will expand our ability to provide clients with best-in-class service and solutions to help them secure and grow their businesses. Our mutual goal of establishing enduring partnerships with clients and achieving outstanding outcomes makes this an ideal match and provides our team significant growth and professional development opportunities.”
CBIZ, Inc., a leading advisory service provider, has long been offering comprehensive financial, insurance, and advisory services to businesses across the United States.
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