Ekco, an IT and cybersecurity firm, has significantly expanded its UK operations with the acquisition of Bluecube. While financial terms of the deal were not disclosed, this move increases the company’s revenue to over €150M (approximately US$162M) and marks Ekco's largest acquisition to date.
This is technology M&A deal number 324 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 297 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.
Bluecube, founded in 2003, is based in Milton Keynes, United Kingdom. The company has 159 employees listed on LinkedIn. Bluecube’s areas of expertise include IT Support, Outsourced Solutions, Software Development, Managed Services, Business Continuity / Disaster Recovery, IT Consultancy, IT Solutions, Managed Backup, Azure, Cloud, Office 365, AWS, Google, Cyber Security, Incident Response, and Cloud solutions.
The acquisition of Bluecube by Ekco is being labeled a strategic step, enhancing Ekco’s managed service offerings and cybersecurity capabilities. Bluecube's existing 24x7x365 security operations centre in Milton Keynes will play a pivotal role in providing dedicated IT security services in the UK for Ekco’s clients, the company said.
Ekco Acquires Bluecube: Executive Insights
Jonathan Crowe, co-founder and COO, Ekco, commented:
“Organizations depend on their MSP for critical IT services. This acquisition allows us to expand our superior services to both new and existing clients. It's an essential part of our growth strategy, focusing on delivering innovative IT and cybersecurity solutions.”
James Hawker, CEO, Bluecube, added:
“Our team’s customer-centered approach aligns closely with Ekco’s values. This acquisition brings mutual benefits for both our staff and customers.”
Ekco’s Growth Trajectory
Ekco has seen rapid expansion in Europe, driven by both organic growth and strategic acquisitions. The company's presence extends to the US, with an office in Boston. In just four years, Ekco’s team has grown to over 860 people, nearly 600 of whom are engineers.
Prior to acquiring Bluecube, Ekco acquired Waterford-based Radius, specializing in IT services for SMEs. Earlier acquisitions in the UK include xTEN and iSYSTEMS, both enhancing Ekco's expertise in cloud migrations and managed services. In 2022, the company also acquired Unity Technology.
Financial Backing
In 2023, Ekco secured support from Corten Capital, a London-based fund focusing on B2B technology platforms. This backing is a testament to Ekco’s robust growth strategy and market position.
