Atos acquires Montreal cybersecurity firm In Fidem
Global IT consultancy Atos has acquired In Fidem, a Montreal-based cybersecurity consulting firm. Financial terms of the deal, which is expected finalize in the first quarter of 2021, were not disclosed.
Founded in 2005, In Fidem delivers specialized consulting services in the high-demand areas of cloud security, digital identity, risk management, security operations, digital forensics, and cyber breach response. A leading player in the Canadian market, In Fidem works with clients in the private and public sector.
The firm has more than 100 professionals across offices in Montreal, Ottawa, and Quebec City.
Atos’ acquisition of In Fidem will strengthen its cybersecurity offering in Canada. The Paris-based firm, which has 110,000 global employees and annual revenue of $18.5 billion, has Canadian offices in Montreal and Toronto.
The Covid-19 pandemic has accelerated demand for cybersecurity consulting as firms have boosted digitalization efforts and shifted employees to remote work – increasing threat surfaces in the process. The global cybersecurity services market is projected to grow from $66.86 billion in 2019 to $91.09 billion in 2023, according to The Business Research Company. North America is the largest market for cybersecurity services, at 36.1% ($24.13 billion) of the global total in 2019.
“This acquisition reinforces our position in a fast-growing cybersecurity market and is a key addition to our current cybersecurity business in North America,” said Pierre Barnabé, senior executive vice-president, head of Big Data & cybersecurity at Atos. “In Fidem’s strong, long-standing client relationships will bring added value to our teams.”
Ato’s recent additions to its global cybersecurity practice include SEC Consult Group, a Vienna-based cybersecurity consultancy, Motiv ICT, a Netherlands-based managed cybersecurity services firm, and digital.security, a France-based cybersecurity consultancy.
“This strategic move will enable our customers to benefit from Atos’ extensive expertise, global presence and its leading rankings in Managed Security Services. We’re convinced that the combined capabilities of our portfolio and expertise with that of Atos’ will bring added value to our clients,” said Matthieu Chouinard, CEO of In Fidem.
Atos earlier this month made a reported $10 billion offer to acquire US-headquartered IT services firm DXC Technology. If DXC accepts, it would be the largest deal in Ato’s history, adding 138,000 global employees and eclipsing the $3.6 billion deal for US-based Syntel in 2018.
