Cleveland-based insurance and financial advisory firm CBIZ, Inc. announced that it acquired information security consulting firm, Pivot Point Security, of Hamilton, New Jersey, effective June 1, 2023.
Founded in 2001, PPS serves small and middle market businesses with certification and compliance preparation work for U.S. and international regulatory requirements, vulnerability assessments, penetration testing, and vendor risk management. It also provides consulting services such as outsourced virtual chief information security officers.
PPS has 30 employees and recorded $6.6 million in revenue in 2022, according to the announcement.
Terms of the transaction were not disclosed.
Jerry Grisko, president and CEO of CBIZ, said the acquisition “significantly increases the depth of expertise and scope of the cyber and security services” that his firm provides.
Effective February 1, CBIZ acquired Somerset CPAs and Advisers that is based in Indianapolis. CBIZ said it expects to record approximately $52 million of revenue from this acquisition.
CBIZ provides accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services as well as employee benefits consulting, retirement plan consulting, property/casualty insurance, payroll, and human capital consulting. It has more than 120 company offices in 33 states.
Topics Mergers & Acquisitions Agencies
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