CSIS Security Group announces strategic acquisition of Security Alliance Limited

CSIS Security Group has acquired Security Alliance Limited, a key milestone in the execution of the company’s strategy to establish itself as the European leader in actionable, intelligence-driven cybersecurity services.

Cybercrime continues to inflict pain on organisations around the world. According to the Identity Theft Resource Center, in 2023 there was a 78% increase over 2022 in publicly reported data compromises. The latest IBM Cost of a Data Breach report also found that the average cost of a data breach reached an all-time high of $4.5 million in the same year.

CSIS was founded in Copenhagen in 2003 and has firmly established itself as a reference player and trusted partner for Managed Detection & Response (MDR), Emergency Incident Response and Offensive Security Consulting services to enterprise and mid-market companies across a wide range of sectors. CSIS has also leveraged its unique capabilities to differentiate itself in the Operational Intelligence space by delivering services to the most demanding customers, including several of the world’s largest banks and other global corporations.

Since 2022, CSIS is part of Allurity, a leading European cybersecurity group for technology-enabled cybersecurity services. Allurity is in turn backed by Trill Impact, the pioneering Impact House that engages with companies that make a positive Impact on the UN Sustainable Development Goals (SDG’s) and have a firm commitment to ESG.

Founded in London in 2007, SecAlliance, a CREST certified provider, is Europe's leading threat intelligence provider. Driven by a commitment to quality and doing the right thing, it is firmly based in Europe but has global reach and presence. SecAlliance delivers Managed Threat Intelligence Services, Intelligence Consultancy and Advisory Services to banks, central banks, financial market infrastructures, governmental and EU agencies, international organisations, and critical national infrastructure operators (telco, power grid, transport). SecAlliance creates and facilitates collaboration by supporting the establishment and operation of national and international threat intelligence sharing communities.

Daniel Shepherd, CEO of CSIS, commented on the importance of the acquisition: “Our work is all about improving our customers’ security posture, making them harder targets for criminals, and increasing their resilience to ensure highly effective detection of threats and response to incidents. We believe that a mature cyber intelligence capability is essential to achieve these goals and there are very few cybersecurity companies globally that have what is required. By adding its Strategic and Tactical Intelligence services, SecAlliance gives us a unique, highly impactful and holistic capability that will benefit all our customers through greater threat awareness, more effective threat detection and faster threat response.”

Daniel added that: “SecAlliance, with its distinctive focus on high quality services, customer-centric delivery model, ThreatMatch platform, and passionate culture, aligns perfectly with our vision, strategy, ways of working and values. This has been a clear and strong match from the start.”

Rob Dartnall, CEO of SecAlliance commented: “The combination of SecAlliance’s ‘Intelligence Made Human’ service offerings and CSIS technology-enabled services will create a truly unique and highly relevant intelligence solution to improve the cyber resilience of CSIS and SecAlliance’s current and future clients. We have been inspired by the work and vision of the CSIS team and the wider Allurity family and look forward to achieving great things working together.”

Demand for cybersecurity services will continue to grow. Research from Markets and Markets predicts that global MDR market will grow from $4.1 billion in 2024 to $11.8 billion by 2029. Similarly, according to the latest Fortune Business Insights report the global threat intelligence market is expected to grow from $5.8 billion in 2024 to $24.9 billion by 2032.

The company will operate as an integrated entity, while also leveraging both the CSIS and SecAlliance brands. To ensure customers and partners benefit from the full potential of the depth and breadth of the combined team of cybersecurity experts and services portfolio, the company will over time align to a common organisation and service delivery model. In the short term, the companies will focus on ensuring service continuity and stability toward existing customers.

Talking about the acquisition Rob added: “We are confident that working in synergy with CSIS will benefit all of our existing customers through an enhanced service offering, while they will still experience the same high levels of service and commitment from SecAlliance that they always get.”

Daniel stated that, “It is truly inspirational to work with the awesome talent in the combined SecAlliance and CSIS team. We will continue to drive an ambitious growth agenda and support the realization of Allurity’s vision to become the preferred partner for tech-enabled cybersecurity services in Europe, contributing to society by combating cybercrime through a unique and holistic offering and making the world a better place.”