Topsgrup To Raise $100 Million From International PE Firms

Security firm Topsgrup, run by Tops Security Ltd, is planning to raise $100 million from international private equity (PE) firms to fund acquisitions and provide existing investors a profitable exit. The Rs.1,200 crore company would conclude the private equity deal in four months to facilitate an exit for existing investors, Diwan Rahul Nanda, global chairman at Topsgrup, said in an interview. ICICI Venture Funds Management Co. Ltd and Everstone Capital hold 19% in Topsgrup while ace investor Rakesh Jhunjhunwala holds 12%.

These incidents, along with cyberattacks on corporate networks, are driving the growth of security solutions companies, said Sanchit Vir Gogia, chief analyst and group chief executive officer, Greyhound Research, an information technology and telecom research and advisory firm.

 “Security services including consultation, implementation and support and managed security services have been generating substantial revenue in recent years and this trend will continue to develop as enterprises move towards disruptive technologies,” Gogia said.

Identification is the biggest threat for these companies. “The issues faced by security agencies are while procuring licences for private security agencies, verification of antecedents of security guards, training and problems faced by the controlling authority,” Gogia of Greyhound said.

He said challenges faced by cyber solutions providers is in terms of real-time solutions of attacks.

“With the advent of emerging technologies, mobility and social media the number of threats have gone up. The security vendors have to be on their toes to provide solutions to those problems as and when it happens. Another challenge is in terms of threat identification,” said Gogia.

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