Cerberus Sentinel Announces Acquisition of RED74

Rhea-AI Summary

Cerberus Cyber Sentinel Corporation (OTC: CISO) has announced its acquisition of RED74, a managed security services provider based in New Jersey. This strategic move aims to enhance Cerberus's service offerings and customer base in the Northeastern U.S. Tim Coleman, president of RED74, will lead the integration and expansion efforts. Although financial terms were not disclosed, the acquisition is expected to bolster Cerberus's portfolio in cybersecurity and compliance services, catering to a diverse range of national customers.

Positive

• Acquisition of RED74 strengthens Cerberus's service offerings in cybersecurity.
• Tim Coleman to lead efforts in expanding customer base in the Northeastern U.S.
• Integration expected to enhance revenue potential and market presence.

Negative

• None.

U.S. cybersecurity services firm expands service offerings

SCOTTSDALE, Ariz., Oct. 28, 2021 (GLOBE NEWSWIRE) -- Cerberus Cyber Sentinel Corporation (OTC: CISO), a cybersecurity consulting and managed services firm based in Scottsdale, Ariz., announced that it has acquired RED74, a New Jersey-based managed security services provider.

Under terms of the agreement, RED74 will become a wholly owned subsidiary of Cerberus Sentinel and will continue to focus on providing integrated risk managed services to a diverse set of national customers. Tim Coleman, president of RED74, will help in the migration and continue to build out the customer base and services in the Northeastern U.S.

“RED74 is an excellent addition for the Cerberus portfolio of companies,” said David Jemmett, CEO and founder of Cerberus Sentinel. “Tim has built a strong team, and we know his continued support in the Cerberus Sentinel family will have a great impact. Tim’s excitement to join a national firm is contagious. Working with him and his team has been and will continue to be a pleasure.”

“A strong cybersecurity stance is crucial not only to IT resource management, but to the core business functions of all organizations,” said Tim Coleman, president of RED74. “We are thrilled to be a part of the Cerberus Sentinel team and contribute to the mission of ensuring the protection and continued success of our customers.”

RED74 will continue to be based in New Jersey. Financial terms of the agreement were not disclosed.

About Cerberus Sentinel

Cerberus Sentinel is an industry leader in Managed Cybersecurity and Compliance (MCCP) services with its exclusive MCCP+ managed compliance and cybersecurity services plus culture program. The company is rapidly expanding by acquiring world-class cybersecurity, secured managed services, and compliance companies with top-tier talent that utilize the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect Cerberus Sentinel's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" and elsewhere in Cerberus Sentinel's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein, could affect Cerberus Sentinel's future financial results and could cause actual results to differ materially from those expressed in such forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause the Cerberus Sentinel's actual results to differ materially from expected and historical results. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact:
Charles J. Zigmund, Vice President
Cerberus Sentinel
617-838-4183
charles.zigmund@cerberussentinel.com 

Cathy Morley Foster
Eskenzi PR
925-708-7893
cathy@eskenzipr.com 

Matt Glover or Alex Kovtun
Gateway Investor Relations
949-574-3860
CISO@gatewayir.com 

FAQ

What is the significance of Cerberus Cyber Sentinel's acquisition of RED74?

The acquisition strengthens Cerberus's position in the cybersecurity market and expands its service offerings.

Who will lead the integration of RED74 into Cerberus Cyber Sentinel?

Tim Coleman, the president of RED74, will oversee the integration and service expansion efforts.

How will the acquisition of RED74 impact Cerberus Cyber Sentinel's operations?

It is expected to enhance Cerberus's customer base and service capabilities, particularly in the Northeastern U.S.

What are the financial terms of the Cerberus and RED74 acquisition?

The financial terms of the agreement were not disclosed in the press release.

What services does RED74 provide that will benefit Cerberus Cyber Sentinel?

RED74 provides integrated risk managed services to a diverse set of national customers.