Irish cybersecurity services provider Integrity360 has acquired Netsecure to further its Nordic region expansion. Financial terms of the deal were not disclosed.
This is technology M&A deal number 158 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Integrity360, founded in 2005, is based in Dublin, Ireland. The company has 237 employees listed on LinkedIn. Integrity360's areas of expertise include Managed Security, Governance, Risk & Compliance, Cyber Security Testing, Security Integration, Incident Handling, Cyber Security, Cyber Risk and Assurance, Managed SIEM, Cloud Security, Data Security, Information Security, Penetration Testing, Red Team, Managed Services, Cyber Risk Assessments, Third Party Governance, Security Architecture, CISO Services, incident response, and Managed Detection and Response.
Netsecure, founded in 2015, is based in Stockholm, Sweden. The company has 33 employees listed on LinkedIn. Netsecure's areas of expertise include IT Security, Information Security , Network Security, Cloud Security, Endpoint Security, Email Security, DDos, CASB, Anti Phishing, WiFi, Firewall, GDPR, Authentication, SIEM, SOC, NOC, Ethical Hacking, Security Audits, Cloud Backup, and Content Collaboration Platform.
The acquisition is part of Integrity360's pan-European expansion plan and will enable Integrity360 to expand into the Nordics region, with Netsecure serving as its platform to deliver services to a larger customer base. All of Netsecure’s employees will remain with the group, bringing the headcount of Integrity360 group to around 360.
Integrity360 Acquires Netsecure: Executive Insight
Ian Brown, Executive Chairman at Integrity360 commented on the news:
“This is a significant and exciting milestone for us and we are delighted to welcome the Netsecure team to Integrity360. The enhanced group will now significantly expand our activities and services throughout the Nordic region in addition to continuing our growth as the leading independent cyber security services specialist throughout the UK and Ireland. 2023 will also see the group expand into other major geographic markets. Our resources and track record are now considerable with over 250 cybersecurity engineers, analysts, consultants and specialists, the group provides a comprehensive range of end to end services and solutions to business organisations for all their cyber security needs. The group’s innovative range of services were recently recognised for a third time in a Gartner market guide, namely as a Representative Vendor in the Gartner market guide for Managed Detection and Response services and we look forward to offering those and other innovative cyber services to the Netsecure customers in the coming weeks and months.”
Jan Lindblom, Founder and Managing Director of Netsecure said:
“I am delighted that Netsecure is joining Integrity360 and continuing the growth journey that we started some 8 years ago. Thanks to the support of our customers and employees Netsecure has become a well respected cyber services provider within Sweden. We are excited to continue that journey but also with Integrity360’s support, allowing us to expand and cover additional markets within the Nordics. Our skills combined with those of Integrity360 will provide an extension of our portfolio of professional, support and managed services. This is great news for employees, customers, and partners. Our 2 companies are highly complementary, with common strengths in cyber infrastructure, and SIEM technologies. In addition 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 look forwarding to working closely with Ian and the Integrity360 team as we ramp up our expansion over the coming years.”
Integrity360 and Netsecure Growth
For the last four years, Netsecure has achieved annual growth rates of over 35%, and during 2023 expects sales of circa €10 million, the company said. In 2022, Integrity360 had sales of circa €85 million. Once the acquisition of Netsecure is complete, the combined group expects sales of circa €110 million during 2023, the company said. Integrity360 said it plans to complete further acquisitions as part of its expansion plan during the year.
