Ekco, a managed cloud and security services provider operating in Europe, has completed the acquisition of managed service provider Radius Technologies. Financial details of the transaction were not disclosed.
This is technology M&A deal number 290 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Ekco, founded in 2015, is based in Dublin, Ireland. The company has 287 employees listed on LinkedIn. Ekco’s areas of expertise include Managed Security Services, Cybersecurity, Managed Infrastructure, Managed Cloud, Consulting, Managed Backup, Disaster Recovery as a Service, SOCaaS, Managed XDR, Networking, Endpoint Detection and Response, and Managed SIEM.
Radius Technologies, founded in 1997, is based in Waterford, Ireland. The company has 39 employees listed on LinkedIn. Radius Technologies’ areas of expertise include Telephone Systems, Servers, Cloud Computing, VoIP Systems, IT security, Cabling, Helpdesk, Virtual Desktop, and Cybersecurity.
Ecko’s M&A Plays
This is Ekco’s third acquisition in the past 18 months as it looks to enhance its services for organizations with up to 250 employees, following previous acquisitions of Unity, IT Force, and Ortus. The company anticipates a trend of increasing IT investments among Irish SMBs, projecting that up to 67% may enlarge their IT budgets in 2024, although this information has not been independently verified.
The integration of Radius Technologies brings Ekco’s overall headcount to over 650, with upwards of 400 based in Ireland, the company said. Ekco’s recent acquisitions in Ireland, including Ward Solutions in 2021, and Kontex and Caveo Systems in 2022, reflect the company’s initiatives in the cyber security domain to complement its cloud strategy.
The deal will help expand Ecko’s operations in the region, as well as its service capabilities, according to the company, with potential operational synergies in the cyber security and managed services domains.
Acquisition Objectives and Operational Synergy: Executive Insight
Steve MacNicholas, CEO, Ireland, Ekco, commented:
"We welcome Radius Technology to our group, seeing alignment in services, customer base, and operational presence in the Irish market. With Radius, we gain additional regional offices in Waterford and Cork. Through our Security Operations Centre in Citywest Dublin, we are in a position to offer cyber security services to Radius' clientele."
Jerry Buckley, CEO, Radius Technologies, said:
"Aligning with Ekco represents a logical step for Radius, sharing similar future aspirations and a commitment to service delivery in managed services. This move is positive for our team, clients, and senior management at Radius."
