EY acquires cybersecurity firm ElevatedPrompt Solutions
EY has acquired Vancouver-based ElevatedPrompt Solutions, a provider of managed services in cybersecurity.
The move expands the managed services offering within EY’s cybersecurity practice, which offers solutions in business resilience, program management, threat management, identity & access management, and data protection and privacy.
"Cyber attacks are increasing in persistence, sophistication, and business impact," Yogen Appalraju, EY Canada’s cybersecurity leader, said. "Managed services are increasingly important as companies struggle to retain the talent or invest in evolving technology and processes needed to face off these attacks.
“ElevatedPrompt is a leader in Managed Detection and Response (MDR) with advanced monitoring capabilities addressing not only Information Technology but also Operational Technology and Industrial Control Systems. Together, we'll be able to offer clients the next generation of protection to safeguard what matters most to them."
EY’s cybersecurity solutions are a key part of its wider organizational risk advisory business. The global accounting and consulting network has a team of more than 6,000 cybersecurity professionals delivering consulting, implementation, and managed services in 150 countries.
Based in Vancouver, ElevatedPrompt provides network security monitoring & threat detection, vulnerability management, penetration testing, incident response, and threat intelligence services. In addition to detection and analysis, the company provides improved visibility into systems for all levels of business through regular reporting.
"This is an exciting opportunity for our team to build on an already advanced Managed Detection and Response capability," said ElevatedPrompt’s cofounder and CTO Chandra Majumdar, who will now serve as EY Canada’s cyber threat management leader. "Joining EY means combining our team of innovative and agile thinkers with powerful local and global networks to deliver entirely new cybersecurity possibilities to companies in Canada and beyond."
Cybersecurity services are an area where consultancies are heavily investing in order to fill growing demand from companies riding the digitalization wave. Digital advisory in general is where consulting firms are targeting resources, as companies formerly trading solely in accounting or business strategy increasingly position themselves as digital guides. EY has itself pledged $1 billion to new technology solutions and capabilities over the next two years.
