UK-based provider of the specialist insurance CFC has purchased US-based incident response provider Solis Security for an undisclosed sum.
The takeover will strengthen CFC’s in-house cyber incident response teams’ capabilities, which have managed approximately 1,500 cyber claims this year.
CFC’s in-house cyber claims and incident response experts form the frontline response to any client cyber event such as a data breach, mischievous cyber-attack or system outage.
Commenting on the deal, CFC CEO David Walsh said: “By joining forces with Solis, we’re able to greatly expand our market-leading cyber incident response service, providing customers with even faster resolution to their cyber events, greatly reducing their business downtime and costs.
“Having worked closely with Solis over the years, we know they have one of the most technically skilled and experienced IR teams in the market, and we’re eager to bring them on-board.”
Solis Security CEO Terry Oehring added: “CFC is a cyber-insurance provider that truly understands the challenges their clients face when it comes to managing and recovering from a cyber-attack.”
CFC provides cyber insurance products to more than 40,000 businesses in over 60 countries across the globe.