Deals: ID/Security Specialist Sontiq Buys Cyberscout

Sontiq, a portfolio company of The Wicks Group of Companies, LLC (“Wicks”) and the leader in Intelligent Identity Security, today announced the signing of a definitive agreement to acquire Cyberscout, a pioneer of best-of-breed cyber products and services tailored for the insurance industry.

By acquiring Cyberscout, Sontiq will build upon its product platform and expand into the insurance industry with cyber solutions and forensic investigation products. With Cyberscout, and Sontiq’s IdentityForce and EZShield, an ever-growing community of institutions, households, and individuals benefit from best-in-class products and services that define the identity theft and cyber fraud protection market.

“Millions of customers and organizations 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 insurance industry expertise.”

Cyberscout joins Sontiq’s cloud-based platform of products and services, with a mutual focus on delivering high-touch services and support. Cyberscout’s solutions include those focused on personal and commercial cyber coverage, as well as complementary programs that are included in employee benefits packages. Through Sontiq’s product portfolio, insurance carriers, mutual insurers and reinsurers will benefit from increased cybersecurity protection.

“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.

“The financial information and big data industries are starting to create services to help businesses and consumers manage their digital financial health. The same end points that drive enormous growth rates in eCommerce and social media are creating an explosion of identity theft and cyber crimes. Sontiq is focused on building products and services to help defend against the underbelly of the cyber world. And, through its brands, IdentityForce and EZShield, and now with Cyberscout, Sontiq’s platform delivers high-value offerings that are trusted and relied on by institutions, families and individuals.”

“Our common values revolve around a culture of care, making this partnership really special,” said Jen Leuer, CEO of Cyberscout. “Together, we not only empower our partners around the world with expert cyber and identity theft protection solutions, we also take seriously our responsibility to work as a team, problem-solve, and help others.”

“Putting the customer at the centre of our universe is inherent throughout everything we do,” said Adam Levin, Founder of Cyberscout. “This is what makes the synergy between us and Sontiq so strong, and it’s what will continue to make all of our combined products so valued by our customers and partners. This acquisition unites three best-of-breed products focused on delivering world-class services, as shown in the excellent customer ratings we all have collectively earned.”

About alastair walker 5915 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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