SGS acquires India-based Panacea Infosec to boost cybersecurity capabilities

The merger highlights SGS’s growing ambitions for its Digital Trust business, and strengthening capabilities in payment security and information security assurance

In sum — what to know:

The deal: SGS buys India-based cybersecurity company Panacea Infosec, boosting its cybersecurity and compliance capabilities. 

Focus on Digital Trust: The acquisition reflects an intentional push to establish the company’s Digital Trust brand in the global market, including India.

Framing goal: With the merger, SGS plans to expand into the global payment and information security assurance markets.

Swiss testing, inspection, and certification group, SGS, said it has acquired New Delhi-based Panacea Infosec, an information security company with customers in the U.S, Middle East, and Africa, for an undisclosed amount. 

The acquisition marks SGS’s latest move to deepen its footprint in the digital trust space. Under the terms of the acquisition, Panacea’s information security capabilities will be absorbed into SGS’s portfolio, making for a fuller, more comprehensive digital trust portfolio. At the same time, the deal will bring Panacea’s cybersecurity team of 90 professionals into its operations, adding to its in-house cybersecurity expertise. 

The merger is intended to help SGS expand into payment and information security assurance markets, the company said. 

“The acquisition of Panacea Infosec marks a significant step forward in our Digital Trust journey,” CEO Géraldine Picaud said in a statement. “By combining SGS’s global reach with Panacea Infosec’s deep expertise in cybersecurity and payment security, we are uniquely positioned to help clients navigate the complexities of digital risk and compliance.”

What Panacea Infosec brings

Panecea whose primary business is security consultation and compliance management serves sundry industries, like banking, insurance, telecom, IT, business process outsourcing, and e-Commerce. Founded in 2012 with the mission to secure enterprise data and help fight against cybersecurity threats — the company aligns well with SGS’s strategy to deliver information security, AI safety, privacy protection, transparency, and compliance through digital trust assurance. 

The acquisition brings the Swiss group Panacea’s payment security expertise for which it is well-known among Indian and overseas customers, which supports its ambition to expand into payment security and info security assurance business — along with security, data protection, and privacy services.

SGS’s Digital trust play

The acquisition came after SGS launched SGS Digital Trust last year, a framework that unites previously acquired brands and services like SGS, Brightsight, Gossamer, ArcLight, ECL, CertX, Streamline Control and SGS TUV Saar, all under one umbrella. With Digital Trust, SGS aims to capture industries ranging from critical infrastructure to medical technology, mobility and consumer electronics to wireless, as well as, payments, digital identity, telecoms, space, and semiconductors.

With the new acquisition, the company is aiming to pull in CHF 200 million which is equivalent of US$ 250 in additional revenue by 2027.

Amit Thakkar, managing director for India, Bangladesh, and Sri Lanka, called the move “a strategic priority” that will allow the company “to support organizations across the full value chain as they address the risks and complexities of modern digital infrastructure, data, AI and connected devices.”

The merger adds to SGS’s growing list of M&As which among recent ones includes Australian company IQ.

Digital Trust was announced as one of the three pillars of SGS’s Strategy 27 — an ambitious project focused on growth, sustainability, and digital acceleration with goals set for 2027.  

“This new framework takes our expertise to the next level, reinforcing our role as an independent partner across the digital ecosystem,” Picaud said.   

As the business world rushes to embrace AI, digital trust emerges as the new imperative to protect privacy, build confidence, and provide assurance to customers. It is fast becoming a core model for any business dabbling in AI, and will shape markets, attract investment, and guide regulations in the coming years.