New Organization Positioned to Address Growing Information and Operational Security Complexities through an Integrated Managed Services Security Solution
RESTON, VA – (October 2, 2018) Evolver and eVigilant, two prominent, Virginia-based security companies, are merging through the private investments of Hillcrest Holdings Inc., and Akoya Capital LLC. Named Converged Security Solutions (CSS), the new organization will offer a groundbreaking, managed services security solution spanning cyber and physical security to address the growing complexities in protecting critical infrastructure.
Evolver, a leading IT consulting and technology firm, provides cybersecurity, cloud, infrastructure, application development, end-user support, and legal technology solutions across the federal and commercial markets. They are a nationally recognized leader in risk quantification using the FAIR model and are ISO 27001 (security) certified. Evolver has repeatedly proven it can provide cost effective, custom solutions to clients that work.
eVigilant is an established leader in providing innovative, cost-effective, IT and security solutions to its clients. Founded in 1999, eVigilant has helped hundreds of organizations secure their critical infrastructure by designing, engineering, implementing, operating, and monitoring state-of-the-art electronic security systems. eVigilant has been recognized as one of the fastest growing “Inc. 500” list of companies in America and has experienced 200% growth over the last 3 years.
Hillcrest and Akoya, as the first institutional investors for both Evolver and eVigilant, are providing growth capital to CSS to support their innovative go-to-market strategies and the new managed services lines of business.
With the combined strengths of Evolver and eVigilant, CSS will continue to offer the former companies’ market leading cyber and physical security services as well as a transformative remote monitoring delivery model for integrated security. Remote monitoring will yield a more efficient and cost-effective security approach rather than on-premise labor-based offerings and is the most comprehensive way to cover the overall threats and risks posed to companies and agencies.
Led by Dr. Bob Friedenberg as newly appointed CEO, the CSS executive team – including Evolver CEO Bill Sabo as the new President and COO and eVigilant CEO Gunvir Baveja as the new EVP of Strategic Sales – brings a rich, extensive background and depth of expertise in cyber and physical security for public and commercial sectors alike. The company’s board of directors will include John J. Regazzi, former CEO of Elvesier Inc. NYSE: ENL as Executive Chairman of the Board, and Mike O’Kane, founder and Chairman of Evolver serving as Vice Chairman.
“As the security threats to both physical systems and IT networks increases due to IoT, a converged security approach that integrates both disciplines is required,” said Friedenberg. “Building on our solid technical solutions and experience delivering ROI and compliance-driven business value, CSS will deliver a highly innovative managed services model to help the C-Suite understand and quantify their risks.”
Converged Security Solutions’ cross-disciplinary approach to the cybersecurity of operational systems and IoT (Internet of Things) devices such as medical devices, transportation systems, and industrial controls for both commercial and public institutions helps limit undue exposure. By integrating network-enabled physical security systems, e.g., access control, ID management, video surveillance, motion detection, with cybersecurity, e.g., network protection, intrusion detection, malware prevention, information assurance, CSS clients will gain increased infrastructure protection and risk mitigation across multiple types of threats.
Sabo added, “Evolver’s and eVigilant’s commitment to quality, evidenced by our ISO 27001, ISO 9001, and CMMI 3 certifications will provide unparalleled customer service for our managed services offerings. Our commitment to the FAIR risk quantification standard will ensure that we focus on the best way to reduce their risk.”
Commercial and public institutions will benefit from the rich expertise already gained in representing a customer community of over three dozen public and private organizations including several major federal civilian bureaus, municipalities, and commercial organizations in the financial services and healthcare sectors. CSS will continue to actively sell and deliver market-leading legal technology, eDiscovery and other IT services on which both Evolver and eVigilant’s clients also rely.
“We have been committed to converged security as the right solution for our customers for several years. There is tremendous synergy between the two organizations, and we have already been teaming to offer our combined services. Now that Evolver and eVigilant have come together, we will be a transformative force in the market,” said Baveja.
About Converged Security Solutions
Converged Security Solutions (CSS) offers a comprehensive converged security managed services solution spanning cyber and physical security to allow the C-suite to better quantify, reduce, and manage security risk on an ongoing basis. CSS provides an end-to-end solution, where customers can benefit from assessment, remediation, and monitoring of the security of their IT and critical infrastructure as a total solution as needed. Founded in 2018, Converged Security Solutions is a privately-held company headquartered in Reston, Va. For more information, contact us at www.convergedsecuritysolutions.com or visit Evolver (www.evolverinc.com) and eVigilant (www.evigilant.com).
About Hillcrest Holdings
Hillcrest Holdings is a Midwest based, family-owned holding company, that invests in privately held middle market businesses in the United States. Its businesses operate in the transportation, insurance, real estate and IT services industries, with consolidated annual revenues in excess of $1.6 billion. Hillcrest’s mission is to support the continued growth and success of its existing portfolio businesses, while diversifying into new industries through long-term equity investments in growing businesses that share its values of stewardship, hard work, empowering employees and giving back to the community. For more information, visit www.HillcrestHoldings.com.
About Akoya Capital LLC
Akoya Capital is a sector focused investment firm that creates and nurtures partnerships between management and capital. With industry leading sector leaders, proprietary platform organizations, experienced management teams and co-investors, Akoya collaborates on compelling value creation opportunities. Together, it develops and executes industry sector acquisition strategies that deliver significant, measurable value for management, partners and shareholders. For more information, visit www.AkoyaCapital.com.