Thursday, January 14, 2021 / by Juan Grimaldo
Global Market Innovators, a Phoenix IT services provider, has acquired a Valley cybersecurity company and plans to expand the combined brands by creating 200 new jobs over the next 12 months.
In the cash deal that closed Dec. 7, Phoenix-based Alagen LLC and its 45 security specialists will come under the GMI umbrella. Alagen founder and CEO Gregg Davis will become senior vice president of delivery for GMI.
GMI CEO Simer Mayo said the acquisition will allow the company to become a one-stop shop for all of its customers and provide comprehensive cybersecurity services — not just when an issue pops up.
“In our increasingly connected world, cybersecurity has become mission critical for our customers and organizations across the globe,” Mayo said. “Alagen brings deep security expertise coupled with a customer-centric focus that positions us to be a leader in IT security solutions and provide a major economic impact with the creation of technology jobs to the Valley.”
GMI CEO Simer Mayo.
Heightening cybersecurity measures has become more important with the onset of the Covid-19 pandemic. With most companies opting to have their employees work from home, there are greater threats to the economy and business and education communities from cyber-attacks and data and home networks getting hacked.
This is the third acquisition for GMI in the past six months, as it expands to provide more resources to better serve its customers, according to the company.
GMI already provides managed IT services, infrastructure, data center, cloud and other professional services for commercial enterprise and education clients such as the state of Arizona, Maricopa County, US Foods and Circle K.
Alagen, founded in 2010, offers a wide spectrum of security services, including strategic security advisory services, architecture and integration, threat and vulnerability assessment and 24/7 security monitoring.
The new jobs that will be created next year include managers and engineers and those that work in cybersecurity, data center, infrastructure and voice. Salaries will range from $50,000 to $250,000.
Because of the shortage of high-quality cybersecurity workforce, the new hires will likely not just come from Arizona but across the country and work remotely.
Davis said he decided to sell his company because he was looking to "accelerate its entrance into greater populations of customers and GMI was looking to accelerate its presence into cybersecurity.
“Strategically, Alagen represents a high-quality brand for them to enter more deliberately into this space,” he said.
Mayo said he and Davis began discussing a possible acquisition about a year ago and realized that the cultures would align. Mayo and Davis met through YPO (Young Presidents Organization) a few years ago.
GMI currently has over 170 employees in Arizona, Idaho, Washington and California, but the vast majority work in the Grand Canyon State. Mayo declined to disclose revenue data but said GMI is expected to grow by 35% in 2021.
With the acquisition, GMI will become the largest minority-owned company in the Valley, according to Mayo.