SOUTHFIELD– Sysnet Global Solutions, which provides cyber security and compliance solutions, has acquired NuArx Inc. to further enhance Sysnet’s technology platform and accelerate its market expansion.
NuArx provides PCI compliance, managed security and digital transformation solutions for the restaurant, convenience, grocery and retail industries throughout North America. It is headquartered in Southfield.
The addition of NuArx brings extensive compliance and security expertise for protecting the digitation interactions of businesses and their customers, Sysnet said in a press release. Sysnet has more than four million merchants and payment processors now in the Sysnet organization.
NuArx’s SecurePCI® platform delivers integrated managed security and PCI compliance solutions. The platform has fueled NuArx’s rapid growth with major brands throughout North America.
The NuArx acquisition follows Sysnet’s recent acquisitions of the Managed Compliance Solutions (MCS) division of ControlScan and Viking Cloud. The combination of four cybersecurity powerhouses – Sysnet, NuArx, Viking Cloud, and ControlScan – creates a scalable platform for next-generation cyber defense with security consulting services delivered by the industry’s leading experts.
“The acquisition of NuArx by Sysnet is part of Sysnet’s growth strategy and helps position Sysnet at the forefront of security and compliance.” Gabe Moynagh, Chief Executive Officer of Sysnet said. “As organizations continue to strain under the ever-increasing onslaught of cyber-attacks, scalable cyber security platforms are needed so merchants of all sizes and locations can address emerging threats, while also achieving and meeting critical compliance mandates. NuArx bolsters Sysnet’s cyber security and compliance solutions and plays a critical role in helping our customers meet ever-increasing threats.”
“The NuArx team is very excited to join Sysnet Global Solutions,” said Rich Stanbaugh, Chief Executive Officer of NuArx. “Combining our teams, expertise and technology platforms is a big win for our customers delivering a broader range of services and cutting-edge solutions with the same innovative culture and commitment to customer success.”
The Sysnet team was assisted in the transaction by Willkie Farr & Gallagher.
Truist Securities, Inc. served as financial advisor, and Gunderson Dettmer LLP served as legal advisor to NuArx.
NuArx was a portfolio company of One Equity Partners. OEP partnered with management to invest in NuArx in 2016 to support its formation and growth after a successful exit from ANX.
Earlier this year, Sysnet received a significant growth equity funding from FTV Capital and True Wind Capital, which has been used to support Sysnet’s rapid growth.
