MSSP Optiv has confirmed it is “downsizing” of its UK operation, claiming the move is temporary as it turns its attention to M&A.
Specifically, the Top 200 MSSP is downsizing its UK efforts near-term — through Optiv says it remains committed to a global strategy.
“In January 2018, we expanded our global footprint to the UK, predicated on a strategy of growth by acquisition. Optiv evaluated 40 different European companies and simply couldn’t justify the high valuations of these companies. After a comprehensive strategic review, we’re downsizing our London-based organic operations. We remain committed to serving the European market, clients, partners and prospects”, the outfit said.
The company said that operations and investment in Canada and India are not impacted. In fact, it was expanding its space in both locations. Optiv’s first Canadian-based security operations centre (SOC) should open in the first quarter of 2020 and it is exploring the possibility of leasing an additional floor in its Bangalore office to accommodate as many as 70 additional new hires on its India team next year.
“Optiv has a proud history of serving clients in Europe and in 70+ countries around the world, and that is not changing. We plan to consider M&A opportunities again in the future, once European valuations right size. We remain 100 per cent committed to our international strategy and to delivering innovative cybersecurity solutions that create simplicity and confidence for clients around the world”, the company said.
