Baltimore Business Journal | 08.06.15
Columbia government contractor Chiron Technology Services, Inc. is expanding its cybersecurity services to the commercial sector, a move that will diversify the company's revenue streams and draw in a new kind of client.
Since launching in 2004, Chiron has focused on providing customized training and cybersecurity services to the U.S. government. But as the list of breaches at large private corporations grows, Chiron sees an opportunity to expand its business model.
"Usually you reach out to organizations such as us after a breach," said Chiron President Dave Pappas. "Our goal is to reach companies before, so they have organic capability to defend against the breach."
More private businesses had been reaching out to Chiron lately, so the company decided to make the leap and target commercial businesses - instead of waiting for them to seek help.
Pappas expects commercial clients to bring in between $1 million and $2 million in revenue this year. He declined to discuss the company's overall revenue projections, but said he expects Chiron's commercial business to account for a relatively small portion of the company's overall revenue - at least at first.
Based on early interest, Pappas expects commercial business to grow by up to 50 percent a year for the next few years. Eventually, he thinks commercial clients could account for as much as 40 percent of Chiron's overall business.
Chiron is targeting commercial clients in finance and health care, two industries that have been hit hard with security breaches.
As Chiron expands its client base, the company also plans to grow its physical presence. Chiron plans to open in the next 18 months two regional centers where it can train new client groups.
Pappas said the company often brings its training services directly to clients, but can offer a more robust training at its own centers.
Chiron is headquartered in Columbia and has a second research and development center in Maryland. The new regional centers will be modeled after Chiron's 20,000-square-foot training center in Augusta, Ga.
By Sarah Gantz