Cyberscout, known for providing cyber products and services for the insurance industry, has been acquired by Sontiq, a portfolio company of The Wicks Group of Companies (Wicks).
With the transaction, Sontiq adds another top cyber and forensic solution to its roster, which already includes IdentityForce and EZShield, that together serve the identity theft and cyber fraud protection market.
“Millions of customers and organisations rely on Sontiq throughout the banking, employee benefits, public sector, commercial, and consumer industries to protect all they’ve built,” said Brian J. Longe, president and CEO of Sontiq. “With IdentityForce, Cyberscout, and EZShield, we have created the trifecta required for all those we serve to combat and recover from the increasing harm resulting from identity crimes and cyber threats. This is a powerful acquisition for Sontiq. By adding Cyberscout into our product portfolio, we are further strengthening our financial services market position with insurance industry expertise.”
Cyberscout offers personal and commercial cyber coverage, alongside complementary programmes that are included in employee benefits packages. Through Sontiq, insurers and reinsurers will be able to benefit from increased cybersecurity education, protection, forensics, incident response, and resolution services, according to a release.
“The Cyberscout acquisition accelerates Sontiq’s vision of creating a tech-enabled platform focused on providing digital financial wellness with unrivalled scale, flexibility, and customer service capabilities,” said Daniel L. Black, managing partner at Wicks.
Adam Levin, founder of Cyberscout, added that the partners share common values, which will result in many synergies between the company and Sontiq. He continued: “This acquisition unites three best-of-breed products focused on delivering world-class services.”
