Ricoh ramps up security side of IT services story

Acquisitive technology giant Ricoh has added a specialist cybersecurity firm to its growing European IT services capability.

The Japanese firm has paid an undisclosed sum to acquire ZeedSecurity, a company set up in 2012 that provides threat monitoring and incident management software and related services.

The Spain-based company’s platform uses machine learning to collect and analyse real-time information, assesses vulnerability levels and advise on action required to mitigate security risks.

The target business will slot into Ricoh’s existing security portfolio, where it already has a strong story in securing corporate print networks. Security is also a key focus area in a new tie-up with Cisco that will see the two companies jointly develop offerings to support workplace security at a cloud, network and device level.

We’ve had several recent conversations on both the buy-side and the sell-side of the market about whether the boom in demand for cybersecurity services peaked last year with the implementation of GDPR.

In fact, GDPR continues to cast a shadow over many organisations, with a tail of projects tackling the implications of the regulation continuing to play out in the early months of 2019. Cyber strategy leaders continue to battle against a threat landscape that grows ever larger and more sophisticated, while broader digital transformation and IoT initiatives expand the potential attack surface.

PAC expects European businesses to increase their spending on IT security software by more than 7% this year, with investment in cyber-related IT services continuing to grow at a double-digit rate. This remains a big growth opportunity for the SITS vendor community.