Optiv Security, fresh from being acquired by private equity firm KKR, today announced the acquisition of Comm Solutions, strengthening its grasp on the northeast market.
Comm Solutions operates primarily in Pennsylvania, Delaware, New Jersey and New York. It provides essentially the same services as Optiv and maintains partnerships with many of the same vendors. Optiv will gain a customer base in a highly lucrative region, and Comm Solutions will be better able to scale its services for expanded growth.
Optiv was considering an IPO late last year, but dropped plans of going public with the acquisition from KKR. Broadening its national reach may improve its position in the future if it decides to go public if market conditions improve.
“Comm Solutions has a stellar reputation for delivering high quality services and solutions in its region, and solid relationships with many of the leading security technology manufacturers,” said Tim Hoffman, Optiv’s executive vice president of worldwide client solutions. “We are very pleased to welcome Comm Solutions employees to the Optiv family, and look forward to working together to enable more organizations to do business securely and with confidence.”
Optiv is the result of a 2015 merger between Denver-based Accuvant and FishNet Security, based in Kansas. It’s reported $1.8 billion in profits the last three years, and last year Inc. magazine ranked the company No. 3,375 on its Inc. 5000 list of America’s fastest growing companies.
The company will continue to operate as an independent organization until the second half of 2017, when it is expected to be integrated into Optiv’s overall structure.