Obrela Security Industries has acquired Encode, a Security Analytics and Response Orchestration provider. With cybercrime damages projected to cost the world $10.5 trillion by 2025, the importance of securing an organisation’s digital universe has never been greater. The acquisition means Obrela can offer its customers a more holistic package of services to detect and mitigate cyberattacks over their entire digital landscape.
“Our acquisition of Encode is an important milestone for Obrela and we are excited about the opportunities it brings to our customers, employees and investors,” said George Patsis, CEO of Obrela Security Industries. “Detecting and responding to cyber threats is an overwhelming challenge for organisations today as most do not have the time, resources or skills to manage the task internally.
“This has spurred a significant shift towards the security services market where organisations are relying on experts in the field of MDR to protect their critical assets from cyberattacks. Through this acquisition we are significantly growing our footprint in the MDR marketplace, enabling us to reach even more customers, while enhancing our solutions and offering our customers even more resources to help meet their evolving security needs.
“Our goal is to put an end to the unpredictable complexity that enterprises across the world have to deal with in cyberspace and allow them to deliver their intended business outcome. Cyber Risk Management in real time can be our strongest weapon towards our goal to ensure trust, security, privacy and safety. But Threat Management is not enough if not integrated with Operational Security and Risk Management. Ultimately, we want to see our clients make the shift to being resilient to threats. This requires them to evolve from Threat Assessment and Detection to complete Situational Awareness.”
The acquisition will reportedly give Obrela the ability to expand into new regions and make an even greater impact on the MDR market, enabling Obrela to further deliver on its core mission of ‘We Keep your Business in Business’.
“Security has never been so critical to an enterprise’s survival, competitive advantage, and ability to maintain stakeholder value as it is today. Organisations need to know they are protected 24/7 against all the attacks they are facing, regardless of where they are coming from and what area of their business they are aimed at. Through this acquisition we are even better equipped to serve our customers and protect their critical assets against today’s ever-evolving security threats,” continued Patsis.