A Calgary-based provider of identity management solutions has been acquired.
Professional services giant KPMG announced the acquisition this week as the firm expands its Identity and Access Management service offering to help clients manage data and prevent unauthorized access to their networks.
Thomas Davies, a cybersecurity expert for KPMG, says that factors such as hybrid workforces have enabled new cyber threats.
“With the hybrid workforce being a focused target of cybercriminals, we are seeing an unprecedented adoption of identity solutions to defend against those threats,” he stated. “Organizations are increasingly asking for our support to defend against these attacks, while improving their employee and customer experiences, and reducing adoption friction.”
Cyberattacks increased globally by 38% from 2021 to 2022, according to data from Check Point Research.
In order to meet a growing demand for cyber solutions, KPMG has brought on board IMagosoft’s “highly skilled team,” including co-founders Scott Piercey and Farren Malo.
“They are uniquely qualified to handle complex identity ecosystems in large companies,” Davies said. “I’m thrilled to have them as part of our team.”
“We are excited to join forces with KPMG, combining our experience in identity and access management solutions with KPMG’s extensive service offering and trusted brand,” Piercey stated. “This union enhances our capacity to provide a wide spectrum of high-quality support services to clients across the country.”
Identity and access management is becoming an imperative for Canadian organizations, according to Davies.
“The stakes have never been higher,” he argues. “Cybercriminals are looking for ways to steal user identities and credentials to access networks, systems, and data—the financial and reputation risks can be significant.”
A challenge for most organizations is finding the right balance between security, operational efficiency, and user experience, Davies believes—not easy, but possible.
In Canada, a shortage of cybersecurity professionals presents an additional point of friction.
IMagosoft was founded in Alberta in 2016.