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The security channel has seen another example of the ever-present consolidation, with Integrity360 picking up fellow cyber specialist Caretower to create an operation with revenues topping £70m.
The terms of the deal were not disclosed, but in the last calendar year, Caretower reported sales in the region of £28m. The firm has offices in London and Sofia, Bulgaria, and the deal will see all its staff remaining with the group.
This deal brings together two businesses that operate in the same cyber security market and have expertise that has been built up over more than two decades, in the case of Caretower.
“This is a very exciting transaction for us and we couldn’t be more delighted to welcome the team from Caretower to Integrity360,” said Ian Brown, executive chairman at Integrity360. “The enhanced group is now clearly positioned as the leading independent cyber security services specialist throughout the UK and Ireland. With over 300 employees, including 200 cyber security engineers, analysts, consultants and specialists, the group provides a one-stop shop for business organisations for all their cyber security needs.
“In a world where security threats to businesses are increasing daily, having a trusted cyber security partner has become a critical boardroom issue. Already providing services to over 1,500 customers, the combination of Integrity360 and Caretower positions the group well to provide that partnership for both private and public sector organisations.”
Phydos Neophytou, managing director of Caretower, said the deal would give the business and its staff increased opportunities for growth. “Our skills, combined with those of Integrity360, will provide a further extension of our professional support and managed services,” he said. “This is great news for employees, customers and partners. Our two companies are highly complementary, with common strengths in cyber infrastructure, endpoint and SIEM technologies.
“Together with Integrity360, we will create stronger solutions for our customers. Our teams are a great cultural fit, and we are excited to help Integrity360 serve even more customers and provide new opportunities for our own employees to thrive as part of the enlarged group. I will continue to offer my support in a senior management role within the enlarged group.”
Elsewhere, consolidation continued on the continent, with software and services player Netaxis Solutions bolstering its cloud credentials by acquiring Anyroute.
Netaxis’s customer list includes a lot of telecommunications players and this move will bolster its Teams Voice Automation proposition. Anyroute also brings some existing clients that should be able to take advantage of the Netaxis product portfolio.
Manuel Basilavecchia, co-founder and CEO of Netaxis, said: “We are excited to take the next big steps with the acquisition of Anyroute. Their experience will support us in our shift towards more SaaS [software as a service]-driven revenues.”