Bureau Veritas, a global leader in the Testing, Inspection, and Certification (TIC) industry, has announced its agreement to acquire Security Innovation Inc., a specialized software security firm based in the U.S. This strategic move aligns with Bureau Veritas’s LEAP | 28 strategy aimed at accelerating growth in the rapidly expanding cybersecurity sector. The acquisition will establish a new cybersecurity hub in the U.S., with potential for global scalability, enhancing the company’s offerings in software security services.
Founded in 2002 and headquartered in Boston, Security Innovation focuses on software testing, Secure Software Development Lifecycle (SDLC) advisory, and training. With a proven track record in serving both private and public organizations, the firm generated EUR 21 million in revenue in 2023 and brings a team of 95 highly skilled specialists to Bureau Veritas. This addition is expected to significantly enhance Bureau Veritas’s client portfolio and cybersecurity capabilities.
Hinda Gharbi, CEO of Bureau Veritas, emphasized that this acquisition reinforces the company’s position in the growing cybersecurity market. It complements existing capabilities and is anticipated to generate synergies that benefit customers. Additionally, it will allow Bureau Veritas to ramp up its cybersecurity testing expertise and develop advanced AI and Large Language Model capabilities.
Ed Adams, CEO of Security Innovation, expressed optimism about joining Bureau Veritas, highlighting the extensive expertise and global presence that the acquisition brings. The transaction is expected to close in the third quarter of 2024, marking a significant step forward in Bureau Veritas’s strategy to enhance its cybersecurity technology innovations and expand its market leadership.
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