Cisco Locks Down Cybersecurity Services With Acquisition

Technology conglomerate Cisco is looking to boost its security services with the acquisition of U.K.-based cybersecurity consultancy Portcullis Computer Security.

Cisco announced its intention to acquire the company, which provides cybersecurity services to both government and enterprise clients, in a blog post yesterday (Sept. 30).

While the terms of the deal were not disclosed, Cisco said the acquisition will allow it to better serve clients in addressing security concerns by offering more robust security, risk and compliance services. The company also noted an increased ability to help its clients foresee and respond to security threats while also driving new business.

“Portcullis’ range of security consulting services includes assessments to identify vulnerabilities, forensic testing, first responder training to prepare for attacks, policy review and creation, security awareness training, and overall security posture audits,” the blog post stated. “Together, Cisco and Portcullis will provide strategic guidance to our clients to help them with their most difficult security challenges.”

Cisco’s intended acquisition of Portcullis comes on the heels of the discovery of highly sophisticated and stealthy malware software being implanted in Cisco routers across four countries.

Mandiant, the computer forensic arm of cybersecurity firm FireEye, uncovered the secret cyber attacks targeting routers made by Cisco earlier this month.

By implanting routers with malicious software, hackers can potentially gain access to a great number of other hosts and vast amounts of critical data since routers maintain critical positions on the boundaries and within the core of networks, FireEye explained.

According to CIO Online, the Portcullis acquisition is expected to close during Cisco’s Q2 of fiscal year 2016. Portcullis will be integrated within the Cisco Security Solutions organization led by Vice President James Mobley.

To check out what else is HOT in the world of payments, click here.



New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.