Bureau Veritas has signed an agreement to acquire Security Innovation Inc, a US-based specialized software security firm.

The acquisition is aligned with Bureau Veritas LEAP|28 strategy to accelerate growth in cybersecurity and to create a new stronghold.

Security Innovation will expand Bureau Veritas's client portfolio and will establish a new cybersecurity hub for its clients in the US with the opportunity to scale it globally. Founded in 2002 and headquartered in Boston with offices in Seattle and Pune, India, Security Innovation provides state-of-the-art software security consulting and services focused on software testing, secure software development lifecycle (SDLC) advisory, and training. The acquisition will add a network of 95 highly skilled specialists to Bureau Veritas. Security Innovation generated E21 million in revenue in 2023.

“This acquisition reinforces our position in the fast-growing cybersecurity market and is a key addition to our existing portfolio with a focus on North America,” said Hinda Gharbi, CEO of Bureau Veritas. “It complements our capabilities and will generate synergies to the benefit of our customers. This is a fantastic opportunity to ramp up our existing cybersecurity testing expertise and develop our AI/Large Language Model (LLM) capabilities, positioning Bureau Veritas as the TIC leader of cybersecurity technology innovations.”

“This strategic move will enable our customers to benefit from Bureau Veritas’ extensive expertise in the TIC sector, global presence, and its undisputable reputation as a trusted third party,” said Ed Adams, CEO of Security Innovation Inc. “For Security Innovation teams, this is a unique opportunity to join a globally recognized network of experts and to benefit from professional opportunities and career development on the scale of an international group such as Bureau Veritas. We look forward to the next steps in our journey together.”

The transaction is expected to close in the third quarter of 2024.