TAC Plans to close the deal by August 31st, 2024, solidifying presence in the U.S. cybersecurity market
TAC InfoSec , India’s first publicly listed cybersecurity company, has revealed a strategic move to acquire Cyber Sandia, a prominent American cybersecurity firm with a crucial statewide contract in New Mexico. The acquisition is set to strengthen TAC Security’s foothold in the U.S. public sector, marking a significant expansion of its cybersecurity services across the nation.
Cyber Sandia, known for its comprehensive IT and cybersecurity services, holds a key contract with the State of New Mexico- a state-wide agreement that underscores its pivotal role in safeguarding the state’s digital infrastructure. This acquisition allows TAC Security to not only deepen its ties with New Mexico but also to position itself as a key player in the broader U.S. public sector cybersecurity market.
Trishneet Arora, Founder, Chairman & CEO of TAC Security, expressed enthusiasm for the acquisition, stating, “We are excited about the opportunity to bring Cyber Sandia into the TAC Security family. This move is driven by our commitment to supporting New Mexico’s efforts to enhance its cybersecurity posture. By leveraging our combined expertise, we aim to provide comprehensive security solutions that meet the evolving demands of the public sector.”
This acquisition aligns with TAC Security’s broader strategy to expand its presence in the U.S., a market that already accounts for nearly 70 per cent of the company’s total revenue. With dedicated cybersecurity veterans in the region, TAC Security plans to use this acquisition as a springboard to secure additional government contracts across other states.
The timing of the acquisition is particularly strategic. In March 2023, the State of New Mexico announced a substantial increase in its cybersecurity budget, allocating USD 45 million to protect state assets and infrastructure. This boost in funding, coupled with TAC Security’s enhanced capabilities through the acquisition of Cyber Sandia, positions the company to play a crucial role in the state’s cybersecurity initiatives.
TAC Security’s relationship with the State of New Mexico is longstanding, having previously collaborated on various cybersecurity initiatives, including work with the Office of State Auditor and the Office of Attorney General in New Mexico. Acquiring Cyber Sandia, which holds an exclusive contract that only opens for bids every four years, further solidifies this relationship and opens the door to new opportunities within the U.S. public sector.
Beyond New Mexico, TAC Security sees this acquisition as a gateway to expanding its reach across the United States. By building on its success in New Mexico, the company plans to pursue similar contracts in other states, aiming to become a trusted cybersecurity partner for government agencies nationwide.
The acquisition is expected to close before August 31st, 2024, creating a step-down subsidiary, and marking a new chapter in TAC Security’s growth story. As the company integrates Cyber Sandia’s capabilities, it is poised to deliver cutting-edge cybersecurity solutions that address the complex needs of government entities, ensuring the protection of critical infrastructure and state assets.