CRN: Herjavec Group gearing up for next acquisition
August 30, 2016
CEO Robert Herjavec tells CRN he expects takeover of an identity-based security firm to be completed in the 'the next couple of weeks'.
Global managed security services outfit Herjavec Group is in "the final stages" of acquiring an identity security company, according to CEO Robert Herjavec.
Herjavec confirmed to CRN that his eponymous group is set to finalise the deal "in the next couple of weeks".
"We're in the final stages of acquiring an identity company," he said.
"We're very bullish in that [acquisition] space and we have a global mandate for that. We're always open.
"[The deal] hasn't closed yet, it'll close in the next couple of weeks. We're well down the road."
Herjavec is no stranger to acquisitions, having overseen nine in the past 13 years.
Last year the Canada-based group acquired UK-based Sysec and has since doubled its revenue in the UK.
The group is now in the process of setting up its first UK security operations centre (SOC) in Reading where it currently has an office, and expects to turnover around $25m (£19m) in the UK this year.
He expects the overall group to turn over around $170m this year, and has set a target of growing the business by a minimum of 20 per cent next year.
"I really wanted to put the SOC in London because it's very cool and it's a fun place to stay, but my team convinced me that everybody would quit and never come to work, so we had to put it in Reading," Herjavec joked.
"While Reading is very cool and exciting, it's certainly not downtown London."
Despite his disappointment at not being based in the capital, Herjavec is confident that his UK business will continue to grow, even amid Brexit uncertainty.
"I'm very optimistic about the UK business," he said. "I think Brexit was probably the wrong timing, and we can argue about the unfortunate situation, but I'm very bullish on the UK economy.
"I think there's a magic to doing business in London that can't be replaced. I don't buy into [the idea] that will be a mass exodus from people leaving the financial sector. I think London will always be London."
Originally posted on channel web.co.uk
About Herjavec Group
Dynamic IT entrepreneur Robert Herjavec founded Herjavec Group in 2003 to provide cybersecurity products and services to enterprise organizations. Herjavec Group delivers SOC 2 Type 2 certified managed security services supported by state-of-the-art, PCI compliant, Security Operations Centres, operated 24/7/365 by certified security professionals. This expertise is coupled with leadership positions across a wide range of functions including consulting, professional services & incident response. Herjavec Group has offices globally including across Canada, the United States, United Kingdom and Australia. For more information, visit www.herjavecgroup.com.