NuArx Inc., a cyber security company based in Southfield, has been acquired by Sysnet Global Solutions of Dublin, Ireland. Terms of the transaction were not disclosed.
NuArx is a provider of payment card industry (PCI) compliance, managed security, and digital transformation solutions for the restaurant, convenience, grocery, and retail industries throughout North America. The acquisition is expected to enhance Sysnet’s technology platform and accelerate its market expansion.
The move comes at a time when cyber-criminal activity is increasing and impacting businesses of all sizes. Recent reports show that COVID-19 has provided opportunities for cyber criminals to increase activity and innovation, trend that threatens the stability and business continuity of many organizations, according to Sysnet.
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 team is very excited to join Sysnet Global Solutions,” says Rich Stanbaugh, CEO 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 addition of NuArx brings to Sysnet compliance and security expertise for protecting the digital interactions of businesses and their customers. With more than 4 million merchants and payment processors now in the Sysnet organization, Sysnet says it has taken the lead in delivering cyber security and compliance solutions to organizations worldwide.
“The acquisition of NuArx by Sysnet is part of Sysnet’s growth strategy and helps position Sysnet at the forefront of security and compliance,” says Gabe Moynagh, CEO of Sysnet. “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.”