Telefonica continued to bolster its cybersecurity credentials, striking a deal to acquire Valencia-based consultancy company Govertis Advisory Services, building on a long-running partnership.
In a statement, Telefonica said it had made the acquisition through its cybersecurity subsidiary ElevenPaths, but didn’t disclose terms. Govertis specialises in governance; integrated risk management; regulatory compliance; business continuity; and cyber resilience.
Telefonica explained it first cooperated with Govertis in 2012 and solidified its relationship in 2015 when the operator acquired GesConsultor GRC, the consultancy’s management and regulatory compliance platform.
In 2018, Telefonica’s global innovation hub Wayra also invested in Govertis.
Telefonica explained Govertis offers solutions which unify “the legal and technological aspects of cybersecurity”, with operations in Spain and Latin America.
Eduard Chaveli, CEO and founder of Govertis, said the tie-up was a “natural next step in a long-standing relationship” at a decisive moment of digital transformation, and the move would help position Telefonica “as one of the most significant actors in cybersecurity”.
The deal adds to a number of moves Telefonica has made in the cybersecurity space.
Telefonica added it will continue to increase its organic and inorganic cybersecurity capabilities in the coming months, relying on a team of more than 2,500 security professionals.