Merger positions AIS affiliate for growth
GreyCastle Security, a subsidiary of Rome-based Assured Information Security, has acquired an information security management consulting firm, Orange Parachute, for an undisclosed amount.
Minnesota-based Orange Parachute adds compliance services to GreyCastle Security’s service catalog, including cybersecurity risk assessment, incident response, awareness, penetration testing, vulnerability assessment and governance.
“The acquisition of Orange Parachute increases our revenue stream and addresses both the cybersecurity risks and talent shortage plaguing businesses today,” said Dan Kalil, vice president of AIS and chief strategy officer for GreyCastle Security.
The acquisition “also extends our customer base to additional organizations across the country,” the AIS vice president and chief strategy officer added.
GreyCastle Security, which is based in Troy and has an office in Rochester, employs nearly 60 employees and has experienced four consecutive years of triple-digit growth, according to AIS.
AIS, which has about 150 employees at its headquarters in Griffiss Business and Technology Park, acquired GreyCastle in a combination stock and cash deal last year.
The purchase lets GreyCastle accelerate growth and expand into new markets, including making more acquisitions.
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