Buy-and-build security services provider Accumuli has made good on previously announced plans to enter the security information event management (SIEM) market after springing £3.8m to acquire specialist VAR Edge 7.
Founded just over a year ago by ArcSight refugees, Edge 7 specialises in both consultancy services and SIEM hardware and is a reseller of ArcSight, Splunk and Q1 Labs. Its customer base covers a range of verticals, including public sector and financial services. In its first 13 months of trading to the end of April it made sales of £900,000.
Accumuli has stumped up £800,000 in cash up front, with a performance-based payment of £3m due in September 2013.
The firms said they saw "significant" cross-selling opportunities for Edge 7 within Accumuli's current customer base, as well as an opportunity for the loss-making VAR to take advantage of Accumuli's scale and corporate structure to construct a SIEM managed services offering.
"Edge 7 [has] a strong reputation and acknowledged expertise in implementaing and extracting the full venefits from a SIEM platform," said Accumuli non-executive chairman Nick Kingsbury.
"This acquisition, along with our increased investment in this field, will enable us to provide our customers with a high level view on their organisation's security exstate, and actionable intelligence on specific threats.
"It provides us with further depth in a skill set which allows us to engage at a higher, more strategic level with our customers," he added.
Edge 7 marks Accumuli's fourth acquisition since its 2010 inception, and its first in well over 12 months.