Leading IAM services provider completes third strategic acquisition, expanding its global IAM footprint and managed services capabilities
Munich – October 4, 2022 – iC Consult Group, the world’s leading managed services and consulting company in the field of Identity & Access Management (IAM), announced today that it has completed the acquisition of Kapstone Technologies LLC, a global provider of identity and security services. The transaction marks iC Consult’s third strategic acquisition. The financial terms of the transaction were not disclosed.
Kapstone is a renowned IAM and security specialist headquartered in Somerset, New Jersey, U.S., with subsidiaries in Canada and India. Founded in 2013, the team offers deep expertise in Identity & Access Management, Privileged Account Management (PAM), Identity SOC, Compliance Reporting and API Security including multiple respected industry experts and thought leaders in Enterprise Security.
Jürgen Biermann, CEO of iC Consult Group, commented: “I‘m super excited about this strategic acquisition. As an established managed services provider with a comprehensive portfolio of managed services and product accelerators, Kapstone will significantly expand and enhance our global managed services offering as well as our capacity and ability to execute in the United States. The growing organization in India – a great pool of talented and experienced IAM experts – will allow us to offer attractive offshore capabilities to global customers in particular. Pravin and team have already started working closely together with our existing teams in Europe, North America, and China to provide truly global 24/7 managed services.”
Heiko Hütter, Senior Executive for Managed Services at iC Consult, says: “Kapstone offers a powerful suite of next-generation identity services based on best-of-breed technologies from leading IAM vendors. Their customer-focused approach is very similar to iC Consult’s own vision, and it will be exciting to combine our strategies and portfolios to maximize value to our customers.”
Harish Jangada, Managing Partner and Co-founder of Kapstone, says: “In today’s world of accelerated cloud adoption and innovation, Cybersecurity, driven by Identity, forms an important pillar of business transformation. This acquisition enables us to deliver mission critical, transformative, scalable, and resilient IAM solutions for our customers through a global network of highly skilled IAM practitioners.”
“Being part of iC Consult Group will allow Kapstone to broaden its scope and operate beyond the horizons of the U.S. market and expanding its global managed services offering. With iC Consult, Kapstone will continue to perpetuate its culture of prioritizing customer relations and encouraging passion for technology.” so Pravin Patil, Managing Partner and Co-founder.
Saurabh Sharma, Managing Partner and Co-founder adds: “In iC Consult, we have a like-minded partner who shares our passion for service excellence, customer enablement and employee empowerment. As the largest IAM focused organization worldwide, our vision is to drive the next wave of IAM innovation and excellence to enhance customer’s cyber security.”
The Kapstone acquisition marks iC Consult’s third major acquisition: The company – which is held by The Carlyle Group and Jürgen Biermann as the major shareholders – had acquired the IAM specialists ICSynergy (Plano, Texas) and SecureITsource (Roswell, Georgia), and established itself as the leading pure-play IAM services provider worldwide.