Optiv Explained

Optiv Security, Inc.
Type:Private
Industry:Information security
Num Employees:2,400 (2024)
Parent:KKR
Foundation:2015 (merger of Accuvant and FishNet Security)
Location City:Denver, Colorado
Location Country:United States
Homepage:https://optiv.com/

Optiv Security, Inc. ("Optiv") is a privately owned information security services and security technology reseller 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 2015.[3] Optiv is exclusively focused on cybersecurity and risk.

Optiv's vendor partner ecosystem includes over 800 established and emerging cybersecurity software providers and hardware manufacturers.

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 Petraeus 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). 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 various domain verticals:

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.

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

Awards and accolades

Notes and References

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

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