New Delhi

the global testing, inspection and certification major, on Tuesday announced the acquisition of Panacea Infosec, an India-headquartered information security firm, to strengthen its digital trust and cybersecurity capabilities.

With the acquisition, Panacea Infosec’s team of over 90 cybersecurity professionals will join SGS. The company serves clients across India, the US, the Middle East and Africa, and is known for its expertise in payment security solutions aligned with PCI/DSS standards, as well as cybersecurity, data protection and privacy services.

Panacea Infosec works with sectors including banking, insurance, telecom, IT, business process outsourcing and e-commerce, helping organisations comply with global information security standards.

SGS said the acquisition would enhance its position in the rapidly growing payment security and information security assurance markets, enabling customers to better secure sensitive data, protect digital transactions and meet international compliance requirements.

The company is targeting at least CHF 200 million in incremental revenue from its Digital Trust portfolio by 2027 compared to 2023, underscoring the strategic importance of expanding its cybersecurity offerings.

SGS CEO Géraldine Picaud said the acquisition marked a significant step in the group’s digital trust strategy.

“By combining SGS’s global reach with Panacea Infosec’s deep expertise in cybersecurity and payment security, we are well positioned to support clients in managing digital risks and regulatory complexity,” she said, welcoming Panacea Infosec employees to the group.

Amit Thakkar, Managing Director for SGS in India, Bangladesh and Sri Lanka, said the move would significantly expand the company’s IT and cybersecurity services.

“It strengthens our Digital Trust portfolio and enhances our ability to support organisations as they address risks linked to modern digital infrastructure, data, AI and connected devices,” he said.

READ MORE: IUML's Fatima Muzaffar Ahmed is the epitome of Muslim woman leadership

Panacea Infosec CEO Ajay Kaushik said joining SGS would allow the company to scale its operations globally while maintaining high technical and ethical standards.