Optiv has confirmed its UK operations will be halted, albeit temporarily, according to a statement the cybersecurity player sent to CPI.
Amid swirling rumors in the UK channel especially that UK operations are to shutter, the Denver, CO-headquartered channel giant told CPI that while it "remains committed" to the European market, London operations will cease for the time being.
"After a comprehensive strategic review, we're temporarily downsizing our London-based organic operations. We remain committed to serving the European market, clients, partners and prospects," Optiv said.
The MSSP opened its London office in January 2018 based on a strategy of growth by acquisition, it claims.
It appointed ex-Integralis boss Simon Church to lead Optiv's European expansion in 2018, with the exec previously claiming that he planned to create an MSSP in Europe of a "relative scale" to its US operations.
Optiv is a $2.2bn monster in North America, where it claims to be 10 times larger than its nearest competitor.
However, the firm's acquisition strategy has been called into question by UK sources, who have suggested that Optiv made a mistake not acquiring leading UK MSSP Securedata and leading European MSSP Securelink, both of which were eventually acquired by French telecoms giant Orange in the first half of 2019.
Speaking with CPI in August of this year, Optiv CMO Peter Evans confirmed that the security giant had been in discussions to snap up both outfits, but was ultimately outbid by Orange Business Services, with Evans implying that both firms were overpriced.
"We were highly engaged. But in Europe, we don't believe in paying Audi prices for a Honda," he told CPI at the time.
Optiv echoed this in its statement to CPI today, noting that "Optiv evaluated [approximately] 40 different European companies and simply couldn't justify the high valuations of these companies".
The firm also told CPI that the door is still open for potential European acquisitions in the future, "once European valuations rightsize", and that it remains "100 per cent committed" to its international strategy.
CPI reached out to Optiv for clarification on how long the temporary downsizing of its London-based operations would be for and was still awaiting a response at the time of going to press.
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