Prosegur Reaches Agreement To Acquire Majority Stake in Cipher

  • Cipher is a leading cybersecurity company with main operations in the United States, Brazil and United Kingdom. 
  • The combination of Prosegur, a global benchmark in the private security sector, and Cipher, represents a step forward in the implementation of advanced integrated security solutions. 
  • Prosegur consolidates its cybersecurity business with a global reach and six Security Operations Centers (SOCs).

MADRID, Dec.11, 2018 /PRNewswire/ — Prosegur, a global benchmark in the private security sector with over 175,000 employees in 25 countries on five continents, has reached an agreement to acquire a majority stake in Cipher, a leading cybersecurity company with presence in North America, Latin America and Europe. This agreement, which is subject to approval by the corresponding administrative authorities, strengthens Prosegur’s capabilities in cybersecurity and deepens the transformation of its security and technology business.

Prosegur and Cipher share a wide vision of security operations, with a global risk approach, regardless of whether the threats come from the physical or digital world. The two companies will work together to promote the development of advanced security solutions that embrace both fields and create a unique overall risk management platform.

Founded in 2000, Cipher delivers a wide range of Managed Security Services (MSS) and Security Consulting Services. These offers are supported by the best in class security intelligence lab – Cipher Intelligence, in addition, the company has developed an array of cybersecurity intelligence services that will be integrated with the current Prosegur capabilities to create a global intelligence practice with a more extensive and robust portfolio. Cipher is recognized by highly regarded global research firms as a leading player in MSS through its two 24/7 Security Operations Centers (SOCs).

Cipher and Prosegur present their cybersecurity service portfolio in the same way, so it is estimated that an intense transfer of knowledge and exchange of best practices can be generated very quickly. Likewise, the geographical complementary footprint of both businesses is significant since Cipher has operations in markets in which, until now, Prosegur did not have a relevant presence in the cybersecurity landscape especially in the United States, Brazil and United Kingdom.

Following the completion of the transaction, Alejandro Alonso, former Prosegur Cybersecurity Managing Director, will act as Executive Chairman and Eduardo Boucas, founder and CEO of Cipher, will remain in the company as a shareholder and the Global CEO of Prosegur Cybersecurity. Their entrepreneurial spirit, experience and knowledge will be critical to extend Prosegur’s capabilities to new geographies and consolidate them in current markets, with special attention to the United States, the main cybersecurity market.

The Security and Technology business unit of Prosegur has been working for a long time in combining its capabilities in physical surveillance with the latest technological and analytical innovations. The company, which started its cybersecurity operations in 2014, consolidates now a cybersecurity global business with current footprint in 11 countries within North America, Latin America and Europe. These cyber operations now include a very talented and large cybersecurity team and six state of the art SOCs, driving Prosegur to become one of the largest cybersecurity players in the world.

About Prosegur

Prosegur is a global leader in the private security sector. Across its three business lines – Prosegur Security, Prosegur Cash and Prosegur Alarms – Prosegur provides companies and households with reliable security services using the most advanced market solutions. With a global presence, Prosegur reported sales of €4.3 billion and EBIT of €390 million in 2017 and is listed on the Madrid and Barcelona stock exchanges under the ticker code PSG, currently having a team of over 175,000 employees.

The company directs its social action through the Prosegur Foundation, which, with more than 39,900 beneficiaries in 2017, works on four focal points: education, employment inclusion of people with intellectual disabilities, corporate volunteering and cultural development.

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SOURCE Prosegur

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