TAC Security To Buy CyberScope To Expand Its Overseas Web3 Play

Cybersecurity company TAC Security is looking to acquire Rhodes-based Web3 security firm CyberScope to expand its global footprint in the Web3 security space. 

CyberScope specialises in smart contract audits and vulnerability assessment for blockchain-based applications. 

The acquisition will add $1.2 Mn in revenue to TAC Security’s growth strategy, as per a company’s exchange filing. 

“CyberScope’s expertise in smart contract auditing and blockchain vulnerability assessment complements TAC Security’s comprehensive vulnerability management platform (VMP), enabling the company to offer an integrated solution for Web3 Security,” the filing said. 

As part of the acquisition, smart contract audits and assessments will now be a core component of TAC Security’s ESOF. It will help its clients to access enhanced security solutions to mitigate blockchain-specific vulnerabilities. 

“CyberScope’s suite of products, including Cyberscan, Similarityscan, Safescan, and Signaturescan, will be seamlessly integrated with TAC Security’s existing offerings,” the filing added. 

The acquisition further expands TAC Security’s client base to more than 6,000 with a potential growth to reach 10K by next year. 

TAC Security will cross-sell its broader cybersecurity solutions to CyberScope’s clients, while introducing CyberScope’s smart contract audits to its existing clientele. This will expand the total addressable market for both companies, it added. 

“As Web3 security gains prominence amid regulatory shifts under the Trump administration, CyberScope’s expertise in smart contract audits enhances our ability to secure blockchain ecosystems. This strategic move solidifies our leadership in the next era of vulnerability management,” said Trishneet Arora, Founder and CEO, TAC Security.

Thanos Tsavlis, CEO, Cyberscope said, “This acquisition marks a seismic shift in the Web3 security landscape! By teaming up with TAC Security, we’re unlocking unparalleled potential to dominate the blockchain security space. Their global leadership and industry-leading vulnerability management solutions, combined with our expertise in smart contract audits, will redefine the future of cybersecurity.”

CyberScope has completed over 2,780 audits and has more than $134 Bn in secured assets. 

Recently, TAC Infosec set up its UK-based step-down subsidiary, VULMAN Ltd, to offer its cybersecurity solution in the UK and Europe. The UK subsidiary was the latest addition to the company’s geographical expansion, after acquiring US-based cybersecurity firm Cyber Sandia for $25,000 in August last year.