CyEx acquires Simpluris to enhance data breach and class action settlement solutions

CyEx, a leader in cyber and data breach response solutions, has announced its acquisition of Simpluris Inc., a top class action settlement administrator known for its expert legal, financial, and corporate administration services. This strategic move will allow CyEx to broaden its reach in the data breach restitution market and leverage Simpluris’ established authority in the class action sector.

Acquisition Details

With this acquisition, CyEx aims to access new channels and expand its service offerings to a broader customer base. Jerry Thompson, Executive Vice President of CyEx, expressed enthusiasm about the acquisition: “We’re thrilled to welcome Simpluris to CyEx. Their leadership and industry know-how are exceptional. Simpluris’ authority within the settlement administration category will allow CyEx to build on its foothold in the data breach response and class action market.”

Industry Impact

Simpluris is renowned for its class action settlement administration services, particularly in the public sector, with a focus on employment and consumer litigation. It will continue to operate as a standalone business within CyEx, maintaining its experienced leadership team. Kevin Lee, President and CEO of Simpluris, commented on the merger, “We believe the synergies of CyEx’s expertise in cyber and data breach remediation and our technology-driven approach to legal administration will enhance our service offerings and grow our business.”

Simpluris and CyEx: A Synergistic Combination

Since its establishment in 2007, Simpluris has managed over 9,000 cases and distributed more than $9 billion in funds, demonstrating a robust capacity to handle complex legal and financial matters with precision and transparency. Meanwhile, CyEx, since its inception in 2020, has quickly become a leading provider of solutions tailored to various data risks, serving high-profile clients like Capital One, T-Mobile, Home Depot, and Morgan Stanley.

This acquisition not only strengthens CyEx’s capabilities in dealing with data breaches but also enhances its position as a leader in providing comprehensive solutions for both cyber incidents and class action settlements.

The acquisition of Simpluris by CyEx is strategically significant for both entities. It combines Simpluris’ robust legal and financial administration capabilities with CyEx’s expertise in cyber and data breach solutions, positioning the combined entity to offer more comprehensive and integrated services to their clients.