A leading IT Managed Service Provider (MSP) recently acquired a series of smaller IT companies, with a variety of exciting capabilities and underlying technologies. The acquired company’s environments were expanding rapidly without oversight, and the MSP lacked visibility into the risks surrounding it.
The IT MSP needed a team of cybersecurity experts to conduct a cybersecurity risk assessment and report to ensure it understood areas of risk across its portfolio of clients and software partners as their business requirements continued to increase around cybersecurity.
With devastating data breaches in the news and complex cyber threats emerging every day, the IT MSP was concerned about the vulnerabilities and risks this new series of acquisition had created for its investment portfolio. They were mainly concerned about the intellectual property and trade secrets related to its unique companies.
Given the increasing emphasis on cybersecurity and the heightened risk of cyberattacks, the IT MSP needed to evaluate the existing security governance and identify the activities required to reduce risk across its portfolio.
The IT MSP strived to take a proactive approach to risk management and corporate governance, with a dedicated risk identification culture at the parent level and within its portfolio companies. Through conversations with board members and the Valorr team, as well as continued education and training, the firms’ executives understood potential cybersecurity risks and the challenges for private equity groups and public companies.
The firm decided to take action, and put an emphasis on cybersecurity to protect investments both at the parent level and within its portfolio companies. Therefore, the organization sought an advisor to conduct a cybersecurity due diligence assessment to proactively add enterprise value, save money and time in the long run, and defend investments and reputation.
While the initiative was driven from the parent level, the firms portfolio companies also recognized the importance of a dynamic cybersecurity strategy. Subsidiaries were very receptive, open and committed to enhancing security measures.
Following the assessment, the Valor team presented key findings to the firm’s key executives, its board of directors, as well as the management teams of its portfolio companies to help enhance their cybersecurity posture and protect the company’s investments. The top cybersecurity risks and potential emerging concerns were ranked and detailed, as well as suggested policy improvements, including defining authorized roles and security processes for third-party vendors.
Valor’s cybersecurity due diligence assessment helped the firm develop an effective cybersecurity program at the parent level and within each portfolio company. With its strong risk culture, the firm identified Valor as a key resource to proactively address and mitigate emerging cyber threats. The Valor team understood the risks for private equity groups, and analyzed the organization, presenting clear findings of potential risks within the organization and suggestions to address vulnerabilities and protect investments.
Key benefits of Valor’s assessment for firm included:
Valor works with IT MSPs and their clients to help them achieve greater confidence in this changing environment, with the necessary risk information to make more informed investment decisions. Our Cyber Due Diligence Assessment provides you and your team with the insight you need to build a strong, sustainable cybersecurity program, internally and across your portfolio.
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