Milestone acquisition positions apex as market leader in supplier risk management
GREENSBORO, N.C.–(BUSINESS WIRE)–apexanalytix® (“apex”), a leading provider of global supply chain risk management data, software and services, today announced it has acquired Darkbeam, a leader in supplier cyber risk management. The acquisition marks a significant milestone in apexanalytix’s mission to provide comprehensive risk management solutions to its clients worldwide.
The acquisition of Darkbeam will provide enhanced capabilities to clients, including the ability to sense and reduce risk to their critical operations caused by cyberattacks on the suppliers in the supply chain. Cyber threats are becoming more sophisticated and prevalent in today’s digital landscape, with research showing an increase of 38% in cyberattacks in 2022, compared to 2021. apexanalytix is a chosen partner by the world’s largest, most successful organizations, like Starbucks and Toyota to safeguard their operations and maintain the trust of their stakeholders.
“Organizations are inundated with voluminous risk signals in their supply chain that in aggregate are just not actionable. Our clients need a solution that not only amplifies the faint signals of risk, but then automates the next best action as determined by client business rules, for example automatically placing a supplier on hold,” said Steve Yurko, CEO of apexanalytix. “Darkbeam’s powerful technology uncovers global cyberattacks as they are happening in real-time and on the dark web. With this acquisition, our clients know that, along with all other supplier risk domains, their supply chains are now also constantly and natively monitored for cyber risk. We are thrilled to bring a highly differentiated, automated and world-class risk management function to market via the apexportal.”
Cyber threats are ever-increasing, and have potentially devastating consequences for vulnerable organizations. The cost of cybercrime is predicted to hit $8 trillion in 2023 and increase to $10.5 trillion by 2025. With Darkbeam’s world-class cybersecurity technology, apex is addressing a significant pain point in the industry, the separation of cyber risk management from supplier risk management. With these new capabilities, apex is empowering companies to have greater control over their compliance and risk management, and peace of mind against bad actors online.
“Joining forces with apexanalytix represents a tremendous opportunity for Darkbeam,” said Charles Clark, CEO of Darkbeam. “By coupling our dynamic cyber risk management capabilities with apex’s robust risk management platform, we are providing a comprehensive solution that offloads the significant burden of cybersecurity for clients and allows them to focus on what matters most to their business. We’re thrilled to play a part in developing this market-disrupting solution.”
This acquisition is the latest milestone in the growth of apex, which received a majority investment from funds managed by KKR, a leading global investment firm, in 2022. Carousel Capital also continues to be a minority investor in apex.
“When you ask business leaders about their top priorities today, they will inevitably bring up cybersecurity, supply chain and operational efficiency,” said Webster Chua, Partner at KKR. “With this acquisition, apex will extend its lead by providing an all-in-one solution for the world’s most complex global enterprises.”
For more information about how apexanalytix is innovating the global supply chain, visit apexanalytix.com.
apexanalytix is a pioneer in the supply chain software, data, and analytics markets with data-powered software and services for supplier management, fraud prevention, and overpayment recovery. Today, apex serves over 250 Fortune 500 and Forbes Global 2000 companies, protecting more than $9 trillion of annual spend across the world’s most complex supply chains. apex’s leading suite of products includes its supplier management platform, which fully automates supplier on-boarding, master data management, and continuous monitoring of supplier and supply chain risk, throughout the supplier life cycle.
Darkbeam is a London-based cyber vulnerability and threat management capability provider. Its platform enables clients to identify unwanted digital vulnerabilities, find suppliers who are potentially at risk of a cyber attack whilst monitoring the dark web for real-world incidents impacting internal operations and critical suppliers. Together, this provides a strong foundation for cyber risk governance in an efficient manner with a focus on forward-looking risk prevention which helps protect clients from the reputational, financial and operational impacts of cyber incidents in the supply chain.