Obrela Security Industries, a leading provider of security analytics and cyber risk management services, has announced the acquisition of Encode, a Security Analytics and Response Orchestration provider.
The move establishes Obrela as one of the largest cybersecurity and Managed Detection and Response (MDR) players in the EMEA.
George Patsis, CEO of Obrela said, “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. 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.”
The acquisition is a big step for both Obrela and the cybersecurity industry at large. As the cyber sphere expands and evolves cybercrime damages are projected to reach a global cost of $10.5 trillion by 2025. It is becoming increasingly obvious that collaboration is the most effective way to combat cybercrime .
Patsis argues that to ensure trust, security, privacy and safety, Threat Management must be integrated with Operational Security and Risk Management. For Obrela’s clients to become resilient to threats, Patsis believes it’s essential that they evolve from Threat Assessment and Detection to complete Situational Awareness on a holistic level.
“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,” Patsis continued.
Obrela now has a physical presence in five regions, over 200 cyber security employees and over 120 international companies, alongside the scale, breadth and capabilities to further impact the MDR market and expand into new regions.