Cyber security specialist Integrity360 is to expand into the Nordic region with the acquisition of Swedish cyber security company Netsecure for an undisclosed sum.
Further acquisitions are also on the cards for the Irish company as it targets expansion across Europe this year. The company previously signalled plans for significant growth after it received a major strategic investment from August Equity in 2021.
Founded in 2015, cyber security services provider Netsecure offers employs 40 people, offering a platform for Integrity360 to enter the Nordic market. The company has seen a growth rate of more than 35 per cent in the past four years, with sales for 2023 expected to be in the region of €10 million.
The deal will see headcount grow to 360 as all Netsecure employees transfer to Integrity360. Last year the Irish company said it grew orders 30 per cent, notching up €85 million in sales. It is now targeting €110 million in sales with the expanded group.
Integrity360 chairman Ian Brown said the acquisition was a “significant and exciting milestone” for the company.
“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,” he said. “2023 will also see the group expand into other major geographic markets.”
Netsecure founder and managing director Jan Lindblom said the support of Integrity360 would not only allow the company to continue its growth in Sweden, but also expand in additional markets within the Nordics region.
“Our skills combined with those of Integrity360 will provide an extension of our portfolio of professional, support and managed services. Our two 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.”
