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Optiv Security Acquires Substantially All Assets of Evantix to Build Industry’s First Holistic, Cloud-Based Third-Party Risk Solution

DENVER, May 12, 2016 (BUSINESS WIRE) -- Optiv Security, a market-leading provider of end-to-end cyber security solutions, today announced that it has completed the purchase of substantially all assets of Evantix GRC, LLC, a Calif.-based provider of a Software as a Service (SaaS) application for managing third-party risk. Optiv will combine the Evantix technology platform with Optiv’s existing third-party risk services to develop the industry’s first holistic, cloud-based third-party risk cyber security solution. The terms of the transaction are not being disclosed.

“The majority of breaches occur as a result of third parties. That’s because most organizations with limited resources and budget are only able to assess a small number of the hundreds to thousands of third parties they use,” said Tim Hoffman, Optiv’s executive vice president, client solutions. “This acquisition of the Evantix platform enables us to create a robust, comprehensive, third-party risk solution backed by cloud to assess client...