Panacea Infosec acquisition strengthens SGS Digital Trust portfolio
SGS (ISIN CH1256740924, Reuters SGSN.S, Bloomberg SGSN: SW) says the Indian-origin Panacea Infosec acquisition brings over 90 highly skilled cybersecurity professionals to the Swiss Exchange-listed global group to serves clients in India, the USA, the Middle East and Africa.
“This strategic move reinforces SGS’s commitment to accelerating growth and building trust in the digital ecosystem,” said the group in a release on 6 Jan. 26.
Panacea Infosec is recognized for its expertise in payment security solutions supporting PCI/DSS standards, as well as cybersecurity, data protection, and privacy services. Its offerings ensure compliance with global security standards across diverse industries, including banking, insurance, telecoms, IT, business process outsourcing, and e-commerce.
By integrating Panacea Infosec’s capabilities, SGS strengthens its position in the rapidly expanding markets of payment security and information security assurance. This enhanced combined offering will help customers protect sensitive data, secure transactions, and maintain compliance with international standards, fostering confidence in digital transformation https://www.commerce.gov.in/.
SGS is targeting at least CHF 200 million in additional revenue from Digital Trust by 2027 compared to 2023, underscoring the strategic importance of this acquisition in driving growth and innovation http://meity.gov.in.
SGS CEO Géraldine Picaud elaborate on the strategic acquisition, “The acquisition of Panacea Infosec marks a significant step forward in our Digital Trust journey. By combining SGS’s global reach with Panacea Infosec’s deep expertise in cybersecurity and payment security, we are uniquely positioned to help clients navigate the complexities of digital risk and compliance. I warmly welcome all employees of Panacea Infosec to SGS and look forward to building our future together https://www.nseindia.com/.”
Amit Thakkar, Managing Director for SGS in India, Bangladesh and Sri Lanka, shared, “This acquisition marks a pivotal step in strengthening our SGS Digital Trust portfolio, a strategic priority that enables us to support organizations across the full value chain as they address the risks and complexities of modern digital infrastructure, data, AI and connected devices. It significantly expands the IT and cybersecurity services available to customers across industries and enhances our ability to guide them with confidence throughout their digital trust maturity journey https://www.bseindia.com/.”
Panacea InfoSec Private Limited CEO Ajay Kaushik added, “Joining the SGS family is a significant milestone in Panacea Infosec’s journey. This offers us an opportunity to combine our deep domain expertise and technical knowledge with SGS’s strong footprint and digital trust capabilities to deliver greater value to customers. We are confident that, with SGS, we can advance our mission on a global scale while continuing to uphold high standards of integrity and technical excellence.”
SGS is the world’s leading Testing, Inspection and Certification company with a network of over 2,500 laboratories and business facilities across 115 countries, supported by a team of 99,500 dedicated professionals. With over 145 years of service excellence, SGS combines the precision and accuracy that define Swiss companies to help organizations achieve the highest standards of quality, compliance and sustainability. Fiinews.com
