Optiv

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Optiv Security, Inc.
Company typePrivate
IndustryInformation security
Founded2015 (merger of Accuvant and FishNet Security)
Headquarters
Denver, Colorado
,
United States
Key people
Revenue
  • IncreaseUS$2.5 billion (2018)
  • US$2.2 billion (2017)
Number of employees
1,900 (2019)
ParentKKR
Websitehttps://optiv.com/

Optiv Security, Inc. ("Optiv") is a privately owned information security company based in Denver, Colorado.[1] Optiv is a solutions integrator that delivers end-to-end cybersecurity services globally.[2]

Optiv has served more than 7,500 clients across 70 countries worldwide since 2013.[3] Optiv is exclusively focused on cybersecurity.

Optiv's vendor partner ecosystem includes over 350 established and emerging cybersecurity software providers and hardware manufacturers.[3]

In 2017, Optiv was acquired by global investment company Kohlberg Kravis Roberts (KKR).

History

On November 5, 2014, security firms Accuvant and FishNet Security announced that they would join forces to create a new company.[4] The merger would create a roughly $1.5 billion information security giant with solutions covering nearly every aspect of cyber defense.[5]

The merger was completed on February 2, 2015, when the company announced that the previously announced transaction had closed.[6] The new company was owned primarily by the Blackstone Group, a private equity firm that acquired a majority stake in Accuvant in March 2014.[7]

On April 21, 2015, Accuvant and FishNet Security announced plans to launch their new, combined corporate name and brand, and to begin conducting business as Optiv Security in the summer of 2015.[8] The new Optiv brand was officially launched at the Black Hat USA conference in August 2015.[9]

In 2016, Optiv acquired Advancive, Adaptive Communications, and substantially all assets of Evantix.[10] That year, Optiv also made senior executive hires including a new CIO and Country General Manager for Canada.[11]

In November 2016, Optiv filed to become a publicly-traded company.[12] However, on February 1, 2017, Optiv announced that it had been acquired by the global investment firm KKR.[13] In 2017, Optiv also expanded operations globally in Canada – including the acquisition of Conexsys, a Toronto-based security solutions provider.[14][15] Optiv has since continued its growth in Canada and was named a “Major Player” in the Canadian Security Services 2018 Vendor Assessment from IDC MarketScape.[16]

In March 2017, the company announced it was acquiring Comm Solutions, a Pennsylvania-based cybersecurity firm.[17]

Optiv appointed Dave DeWalt and General (Ret.) David Patraeus to its board of directors in September 2017.[18]

In mid-2018, Optiv moved its headquarters into the newly constructed 40-story 1144 Fifteenth Tower in downtown Denver and is considered a primary tenant of the building.

In July 2019, Optiv announced the opening of its Dallas Innovation and Fusion Center, an approximately 14,000 square-foot facility located in Frisco, Texas. This facility features an Advanced Fusion Center (AFC), an evolution of the security operations center (SOC) model. The AFC combines global cybersecurity experts with data analytics, robotics, machine learning, intelligence and automation capabilities.[19]

In April 2022, Optiv began offering a Privileged Access Management as-a-Service (PMaaS).[20] In August 2022, Optiv began working with Shared Services Canada, a Canadian government information technology agency.[20][21]

Optiv acquired Clearshark, a reseller of cybersecurity to the federal government, in March 2023.[22]

Services and solutions

Optiv provides organizational cybersecurity services and solutions. Their offerings encompass business strategy and planning, monitoring and operations, technology integration and deployment and defenses and controls.

Optiv's services are structured across six domain verticals:

  • Cyber Digital Transformation
  • Identity and Access Management
  • Risk Management
  • Cyber Operations
  • Threat Management
  • Innovation and Integration
  • Cyber Strategies

Ownership

Global investment firm KKR & Co is the majority owner of Optiv Security, alongside an ownership team that includes The Blackstone Group among other minority investors.

KKR has offices in 20 cities across 15 different countries and is regarded as one of the top private equity firms in the world based on capital raised.[23] KKR has completed private equity transactions with approximately $610 billion of total enterprise value as of June 30, 2019.[24] Technology is noted as one of KKR's core industries in the Americas.[24]

The Blackstone Group is also regarded as one of the top private equity firms worldwide.[23] As of 2019, Blackstone's total assets under management totaled approximately $470 billion.[25]

Awards and accolades

  • In 2019, it was ranked in the top 10% of solution providers by revenue according to the CRN Solution Provider 500.[3][26]
  • Cybersecurity Ventures included Optiv on its annual list of the world's hottest pure-play cybersecurity companies to watch in 2020.[27]
  • In June 2019, Optiv announced that it was ranked as the top pure-play security solutions integrator on The Channel Company's 2019 SP500 for the third consecutive year. The SP500 annually ranks the top service providers, integrators and IT consultants by services revenue in North America.[28]
  • Optiv earned Frost & Sullivan's 2018 Competitive Strategy Innovation and Leadership Award in the North American managed and professional security services market.[29]
  • Recognized in the 2017 Inc. 5000 as one of North America's fastest-growing private companies.[30]

References

  1. ^ "Optiv Security Inc.: Private Company Information". www.bloomberg.com. Retrieved 2018-02-13.
  2. ^ "Optiv Security opens the Dallas Innovation and Fusion Center". Help Net Security. 2019-07-21. Retrieved 2019-12-17.
  3. ^ a b c "Amendment No. 2 to DRS S-1". www.sec.gov. Retrieved 2019-12-17.
  4. ^ "Accuvant, FishNet Security Agree to Merge". www.securityweek.com. 6 November 2014. Retrieved 2016-11-07.
  5. ^ Novinson, Michael (6 November 2014). "Blockbuster: Accuvant-FishNet Deal Creates $1.5B Global Security Power". CRN. Retrieved 2016-11-07.
  6. ^ "Accuvant and FishNet Security Complete Merger". www.businesswire.com (Press release). 2 February 2015. Retrieved 2016-11-07.
  7. ^ "Blackstone Group backing merger of two cybersecurity companies". The Denver Post. 6 November 2014. Retrieved 2016-11-07.
  8. ^ "Accuvant, FishNet to Become "Optiv Security"". www.securityweek.com. 21 April 2015. Retrieved 2016-11-07.
  9. ^ Kuranda, Sarah (5 August 2015). "Merger Complete: Optiv Security Officially Launches As Security Solutions Powerhouse". CRN. Retrieved 2016-11-07.
  10. ^ Kuranda, Sarah (2017-02-01). "Optiv Closes Blockbuster Acquisition By Private Equity Firm KKR & Co". CRN. Retrieved 2019-12-17.
  11. ^ "Optiv Security Appoints Former Experian Technology Executive Paul Lehman as Chief Information Officer". MarketWatch. Retrieved 2019-12-17.
  12. ^ "Cybersecurity company Optiv files for IPO". Reuters. 2016-11-18. Retrieved 2022-09-29.
  13. ^ "Optiv Closes Blockbuster Acquisition By Private Equity Firm KKR & Co". CRN. February 2017. Retrieved 2017-06-10.
  14. ^ "Optiv Security Continues to Invest in Canada; Further Supports International Growth Strategy". MarketWatch. Retrieved 2019-12-18.
  15. ^ Blackmon, Kris (2017-11-13). "Optiv Buys Conexsys, Continues Growth Strategy through Acquisition". channelfutures.com. Retrieved 2022-10-27.
  16. ^ "IDC MarketScape: Canadian Security Services 2018 Vendor Assessment". IDC: The premier global market intelligence company. Retrieved 2019-12-18.
  17. ^ Chung, Tamara (2017-03-20). "Optiv Security acquires East Coast cybersecurity firm". The Denver Post. Retrieved 2022-09-13.
  18. ^ "DeWalt & Petraeus Join Optiv Board". Channel Futures. 2017-09-12. Retrieved 2019-12-17.
  19. ^ "Optiv Security opens the Dallas Innovation and Fusion Center". Help Net Security. 2019-07-21. Retrieved 2019-12-17.
  20. ^ a b Masters, Jim (2022-08-19). "Canadian Government Enlists Optiv to Deliver Device Authentication Solution". MSSP Alert. Retrieved 2022-09-01.
  21. ^ "Canada Taps Optiv for Network Device Authentication Solution - HS Today". 2022-08-23. Retrieved 2022-09-27.
  22. ^ Nick Wakeman (March 14, 2023). "Optiv makes acquisition to build its federal business". Washington Technology. Retrieved February 1, 2024.
  23. ^ a b "Private Equity Database". Private Equity International. Retrieved 2019-12-18.
  24. ^ a b "Private Equity". www.kkr.com. 13 June 2014. Retrieved 2019-12-18.
  25. ^ "Form 8K: Blackstone Reports Fourth Quarter and Full Year 2018 Results" (PDF). United States Securities and Exchange Commission - Form 8-K. January 31, 2019. Retrieved February 5, 2019.
  26. ^ "2019 Solution Provider 500 Company Details". CRN. Retrieved 2019-12-17.
  27. ^ "The Hot 150 Cybersecurity Companies To Watch In 2020". Cybercrime Magazine. 2019-10-05. Retrieved 2019-12-18.
  28. ^ "Optiv Security Named As Top Pure-Play Security Solutions Integrator for Third Consecutive Year; Only Cybersecurity Focused Integrator Among Honorees". Optiv. 20 June 2019. Retrieved 2019-12-18.
  29. ^ "Optiv Security Earns Frost & Sullivan 2018 Competitive Strategy Innovation and Leadership Award". www.businesswire.com. 2018-03-28. Retrieved 2019-12-18.
  30. ^ "Optiv Security Recognized as One of North America's Fastest-Growing Private Companies". Optiv. Retrieved 2019-12-18.
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