Say organized crime, and most people will think of a burglar trying to break in through your front door. However, today’s organized thugs are sitting in front of computer screens and hacking in to companies’ databases. Open Systems is a leading Managed Security Services Provider (MSSP) that offers monitoring, prevention and proactive intervention for cybersecurity infrastructures on a 24/7 basis. Together with EQT, Open Systems is set to take the next step in making the Internet a safer place.
In times of increased cyber criminality and malware attacks, being able to respond to them while protecting your data is no longer a necessity, but a matter of survival. Companies today are faced with a fundamentally-shifting complex world, offering game-changing opportunities in the digital space. Digitalization allows companies to be closer to their customers, delivering faster, better and more proactive services and products. Having said that, the digital transformation also creates new and significantly larger threats of business interruption and targeted attacks. However, fear is a bad advisor to embrace the future.
EQT Mid Market Europe portfolio company, Open Systems, is a pure-play MSS provider that is committed to working on the forefront of cybersecurity. Based in Zurich, Switzerland, Open Systems monitors and secures IT networks and business-critical applications for global companies, NGOs and institutions with a digital footprint. Open Systems offers a unique and fully integrated service portfolio consisting of Secure SD-WAN as a Service, Threat Analytics and Prevention, Managed Detection & Response Services and SOC as a Service.
With offices in Zurich, Sydney and New York and deployed security services in more than 180 countries, Open Systems takes responsibility to protect their customers in their digital space. The company’s 140 employees, of which 40 are dedicated to R&D and continuous development of the security platform, are working 24/7 as DevOps Security Operations team to ensure that their customers’ data is in safe hands.
Open Systems brings more than 25 years of industry experience and enjoys a competitive advantage with regards to combining a highly scalable security platform with around-the-clock availability to highly skilled customer service, making it a one-stop-shop for holistic security solutions in the digital space. The company’s frontline staff holds all relevant international regulatory certifications, allowing them to respond and act on security breaches, threats and malware attacks on a global scale.
Since EQT invested in Open Systems in June 2017, the focus has been on strengthening the company’s go-to-market approach and sales organization, further developing the comprehensive product roadmap towards Security as a Service (SeCaaS) with full respond & defend and analyze & detect security capabilities and to continue Open Systems’ internationalization into Germany and the US by leveraging EQT’s global platform.
“The global MSS market is currently at a tipping point”
While ignoring the potential of digitalization is not an option in a competitive market, the risks involved are severe. More specifically, a single incident can kill entire companies. Recent disastrous cybersecurity incidents at enterprises such as Maersk stress that the digital value creation chain and cybersecurity risks are inseparable. Now, there is increased customer awareness of risk and cyber criminality against companies. Stringent data privacy regulations and accelerated developments in digitalization and IoT have resulted in enhanced compliance complexity for companies’ in-house IT departments. The shortage of in-house security expertise and adoption of new technologies drive customer demand to partner with MSS providers.
“The global MSS market is currently at a tipping point where it is expected to almost double in size by 2020. Open Systems’ business model is highly scalable with good operating leverage for international expansion and its technology is deeply integrated into the company’s structure, which enables a high degree of automation. EQT has deep sector expertise in this area from portfolio companies such as, Utimaco, IFS, Automic, Unomaly and Hacker One. Together with Open Systems, EQT looks forward to supporting the company’s continued growth trajectory and accelerated international expansion”, says Florian Funk, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe.
Global 2000 enterprises, as well as medium to large companies across all sectors, trust Mission Control Security Services by Open Systems to protect their businesses and end users. The spectrum of clients ranges from Gate Group (GATE:SW) to Sulzer (SUN) and from SOS Children’s Villages to UBS AG, and underlines that Open Systems’ highly standardized services are delivered to a broad range of verticals.
Open Systems’ CEO Martin Bosshardt adds: “The global MSS market is highly fragmented in terms of numbers, types of providers and their geographic coverage. The support of EQT and its Industrial Advisors will enable further advancements in Open Systems’ security platform and will empower us in taking the next step in growing our presence in primarily the DACH region and the US. Our ambition is to reinvent the market for cybersecurity. Together with EQT, we are ready to take the next step in making the Internet a safer place for our customers.”