Atos to acquire Paladion
On June 24, 2020, Atos announced its intent to acquire Paladion, a leading managed security services provider (MSSP).
Paladion clocked a revenue of over $29m in 2019.
Atos is a global leader in digital transformation with 110,000 employees in 73 countries and annual revenue of $13bn.
It is the European leader in cloud, cybersecurity and high-performance computing and provides end-to-end orchestrated hybrid cloud, big data, business applications and digital workplace solutions.
Founded in 2000 in Bangalore, India, Paladion is a cybersecurity company. It provides cloud-native managed detection and response (MDR) services as well as a proprietary cloud-native, AI-driven MDR platform, AIsaac.
The company has over 400 clients in 12 countries, across industries.
It has over 800 employees and cybersecurity experts in security operations centers in the US, Middle East and India.
The company is headquartered in Reston, VA.
This acquisition will bring MDR capabilities to the Atos portfolio and create the next generation of Atos’ prescriptive SOC offering, strengthening its cybersecurity capabilities. Its unique AI-driven technology, combined with Atos’ R&D capabilities in AI, threat and risk-based analytics, will enhance Atos’ prescriptive security platforms and operations.
With their combined expertise, Paladion and Atos intend to bring their technology and business knowledge assets to build the extended Detection & Response capability that customers need as they are adopting hybrid and multi-cloud transformation strategies for their businesses.
Paladion’s delivery centers in US, Middle East and India will join the wide network of Atos global SOCs and benefit from Atos’ unique go-to-market, while strengthening Atos’ position in key growing markets and its ability to deliver at a competitive cost.
The closing of the transaction is expected to take place in Q4 2020.
Commenting on the deal, Pierre Barnabé, Senior Executive Vice-President, Head of Big Data & Cybersecurity at Atos said that Atos found a mature team with advanced technological capabilities in Paladion which will help Atos in entering the emerging yet very competitive market of MDR services.
Rajat Mohanty, CEO of Paladion, called it an industry-defining deal combining the scale and resources of Atos and cloud-delivered technology of Paladion making the combined entity to become the cybersecurity provider of choice for global organizations in their digital journey.
The Chesapeake Group was not the advisor in this transaction.