Ernst & Young (EY) has acquired ElevatedPrompt Solutions, a Vancouver-based cybersecurity firm that targets enterprises.
The ElevatedPrompt team will join a network of over 6,000 EY cybersecurity staff across 150 countries. Launched in 2014, ElevatedPrompt provides companies with threat detection, including viruses and malware, and offers intrusion detection and a protocol analyzer. In a release, EY noted ElevatedPrompt’s capabilities in managed detection and response, which monitors threats and responds once they’re discovered.
“This is an exciting opportunity for our team to build on an already advanced managed detection and response capability.”
– Chandra Majumdar
“Cyber attacks are increasing in persistence, sophistication, and business impact,” said Yogen Appalraju, EY Canada’s cybersecurity leader. “Managed services are increasingly important as companies struggle to retain the talent or invest in evolving technology and processes needed to face off these attacks. ElevatedPrompt is a leader in managed detection and response (MDR) with advanced monitoring capabilities addressing not only tnformation Technology but also operational technology and industrial control systems. Together, we’ll be able to offer clients the next generation of protection to safeguard what matters most to them.”
Appalraju also noted that cybersecurity needs are changing as businesses evolve. One Canadian report from IT firm NOVIPRO noted that 57 percent of Canadian companies own confidential client information, yet four in five of these companies have already fallen victim to a cyber attack. While 59 percent of companies said they cocmpleted a security audit in 2016, only 40 percent of respondents showed as much completion in applying precautionary measures in 2018.
EY, a global services firm with over 100,000 staff worldwide, works with companies to offer cyber program management, threat detection, and data protection and privacy. The company reported $36.4 billion USD in revenue for its full-year 2019 report.
“This is an exciting opportunity for our team to build on an already advanced managed detection and response capability,” said Chandra Majumdar, ElevatedPrompt co-founder and former CTO. “Joining EY means combining our team of innovative and agile thinkers with powerful local and global networks to deliver entirely new cybersecurity possibilities to companies in Canada and beyond.”
Majumdar is joining the EY Canada team as its EY Canada cyber threat management leader.