TORONTO, Sept. 10, 2014 /CNW/ - Robert Herjavec, Founder and CEO of The Herjavec Group (THG) and star on ABC's Emmy Award-winning hit show, Shark Tank, is pleased to announce the acquisition of Sentry Metrics, a leading managed security service provider (MSSP) headquartered in Toronto. This strategic acquisition places The Herjavec Group at the forefront of the managed security market in North America. By acquiring Sentry Metrics, a respected provider with over 15 years' experience and 50 security professionals, THG expands its customer base to over one hundred managed service clients, immediately enhances its technical expertise and grows services revenue by more than $7.5 million.
"The recent string of headlines involving targeted hacks and data breaches has made cybercrime a focus at the executive and board of director level," says Herjavec. "As demand for third party security firms increases at an unprecedented rate, The Herjavec Group has expanded to become one of the largest independent managed service providers in North America". The acquisition of Sentry Metrics grows The Herjavec Group to a run rate of $140 million in sales, and 225 employees.
Sentry Metrics CEO Dave Millier remarks, "Our customers across North America are in good hands given THG's security expertise and personalized service approach. While I am extremely proud of the company we have built, I know The Herjavec Group will take Sentry Metrics' customers to the next level". With the transaction closed, Sentry Metrics will be rebranded over time as The Herjavec Group and become fully integrated into THG's ongoing operations in Canada and the US.
A new organization, Uzado, named after Sentry Metrics' proprietary software, has been created to support the platform's further development and will be led by Sentry Metrics CEO Dave Millier. The Herjavec Group, a key investor and shareholder in this new company, will now offer Uzado to its clients.
The Sentry Metrics acquisition is The Herjavec Group's second this year and supports THG's 3-year, $250 million expansion plan. "I could not be more thrilled to welcome Sentry Metrics to The Herjavec Group," says Herjavec. "This transaction supports our leadership position in managed services and improves our ability to offer cutting-edge security technology on a global scale".
About The Herjavec Group
Dynamic IT entrepreneur Robert Herjavec, founded The Herjavec Group (THG) in 2003 and it quickly became one of North America's fastest-growing technology companies, accelerating from $400K to $140 million in sales over 11 years. The Herjavec Group delivers managed security services globally supported by a state-of-the-art, PCI compliant Security Operations Center (SOC), operated 24/7/365 by certified security professionals. This expertise is coupled with a leadership position across a wide range of functions including compliance, risk management, incident response, networking and storage. THG has offices across North America including two headquarters in Toronto (Canada) and Dallas (US). For more information on The Herjavec Group, visit www.herjavecgroup.com.
Image with caption: "The Herjavec Group (CNW Group/The Herjavec Group)". Image available at: http://photos.newswire.ca/images/download/20140910_C3314_PHOTO_EN_5487.jpg
SOURCE: The Herjavec Group
For further information: Erin McLean, Director of Marketing & PR, The Herjavec Group, 647-535-3126, [email protected]