Feb 04, 2019, 10:02 ET
EATONTOWN, N.J., Feb. 4, 2019 /PRNewswire/ -- IPKeys Power Partners (IPKeyspowerpartners.com) announced today the completion of the acquisition of SigmaFlow LLC, the leading provider of utility-focused automated compliance technology for North American Electric Reliability Corp. (NERC) Critical Infrastructure Protection (CIP) regulations.
The acquisition accelerates IPKeys strategy of leveraging its Cyber Lab as a Service (CLaaS™) platform and related cyber security services that have been provided in the federal and Department of Defense (DOD) sectors for delivery in utility and public safety network communications sectors.
"We are excited about coming together with the SigmaFlow team and the value IPKeys Power Partners will be able to deliver to utilities through its cost-efficient and end-to-end cyber security solution," said Robert Nawy, CEO, IPKeys Power Partners. "Our mission is to strengthen the cyber security defense programs of utilities and public safety organizations in a framework that essentially locks the cyber doors, continuously monitors those locks and now, with the addition of SigmaFlow, includes NERC CIP compliance and road maps."
To support this effort, IPKeys Power Partners has hired Carter Schoenberg, the former CEO of HEMISPHERE Cyber Risk Management, to serve as its Executive Vice President - Cyber Solutions. Mr. Schoenberg brings over 19 years' experience in cybersecurity solving diverse and complex challenges in both commercial and government markets.
"I am thrilled SigmaFlow is joining the IPKeys Power Partners' family, a proven leader in the cybersecurity and compliance space," said Vasu Avadhanula, Vice President of Product Management & Engineering, Sigma Flow. "By combining IPKeys secure technology suite with SigmaFlow's best-in-class workflow platform and NERC domain expertise, we can offer investor owned utilities, municipal power producers and electrical cooperatives with a compelling solution for their pressing cyber security compliance challenges."
"Joining IPKeys and accessing their reputable and secure technology solutions made sense on many levels for SigmaFlow. What's really exciting about this acquisition is the opportunity to offer our customers a more comprehensive solution which includes additional cybersecurity services along with an advanced metering technology platform," said Betsy Williams, Vice President, Sales, SigmaFlow.
"I'm delighted to work with the talented team at IPKeys. Their cyber security and energy industry expertise will be a great benefit to our customers and service offerings," said Louis Riendeau, Director of Professional Services at SigmaFlow.
England & Company provided advisory services to IPKeys Power Partners in support of this acquisition.
Founded in 2005, IPKeys is a strategic partner to public and private entities in the energy, DOD, federal, and commercial sectors and delivers expertise in the development, integration, and deployment of cyber secure Internet Protocol ("IP") technology and communications systems.
IPKeys Power Partners is a wholly owned subsidiary of IPKeys and provides the utility, energy and municipal public safety sectors with Meter and Operational Data Management, Cyber Security, Public Safety Network Engineering and Electricity Demand Management and Demand Response services. IPKeys is headquartered in Eatontown, NJ with installations in Virginia, California, Maryland, Louisiana and Texas.
For over a decade, SigmaFlow has delivered workflow platforms to the energy sector. The company's Oil & Gas Well Delivery solution provides visibility into drilling plans through rig scheduling and pre-drill workflow, while its Compliance Manager (CM) solution reduces the risk and cost of NERC Compliance for electric utilities with process controls and evidence management. SigmaFlow's CM solution has been widely adopted in the U.S. and Canada as the market leader for automating critical infrastructure protection (CIP) compliance.
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