TORONTO-SEPTEMBER 10, 2014 – Robert Herjavec, Founder and CEO of Herjavec Group and star on ABC’s Emmy Award-winning hit show, Shark Tank, is pleased to announce the acquisition of Sentry Metrics, a leading managed security service provider (MSSP) headquartered in Toronto. This strategic acquisition places Herjavec Group at the forefront of the managed security market in North America. By acquiring Sentry Metrics, a respected provider with over 15 years’ experience and 50 security professionals, Herjavec Group expands its customer base to over one hundred managed service clients, immediately enhances its technical expertise and grows services revenue by more than $7.5 million.
“The recent string of headlines involving targeted hacks and data breaches has made cybercrime a focus at the executive and board of director level,” says Herjavec. “As demand for third party security firms increases at an unprecedented rate, Herjavec Group has expanded to become one of the largest independent managed service providers in North America”. The acquisition of Sentry Metrics grows Herjavec Group to a run rate of $140 million in sales, and 225 employees.
Sentry Metrics CEO Dave Millier remarks, “Our customers across North America are in good hands given Herjavec Group’s security expertise and personalized service approach. While I am extremely proud of the company we have built, I know The Herjavec Group will take Sentry Metrics’ customers to the next level”. With the transaction closed, Sentry Metrics will be rebranded over time as Herjavec Group and become fully integrated into Herjavec Group’s ongoing operations in Canada and the US.
A new organization, Uzado, named after Sentry Metrics’ proprietary software, has been created to support the platform’s further development and will be led by Sentry Metrics CEO Dave Millier. Herjavec Group, a key investor and shareholder in this new company, will now offer Uzado to its clients.
The Sentry Metrics acquisition is Herjavec Group’s second this year and supports Herjavec Group’s 3-year, $250 million expansion plan. “I could not be more thrilled to welcome Sentry Metrics to Herjavec Group,” says Herjavec. “This transaction supports our leadership position in managed services and improves our ability to offer cutting-edge security technology on a global scale”.