The new combined entity will have more than 50 employees and combined forecasted revenues of €15m in 2021.
Mobile and cloud security company CWSI has snapped up UK cyber and cloud security provider AVR International in a multimillion-euro deal.
The €5.2m acquisition will see AVR’s founder and 12 employees become part of CWSI with immediate effect, bringing the combined entity’s total headcount to more than 50.
This is CWSI’s first acquisition and is funded by a combination of cash flow and debt facility.
Headquartered in Dublin, CWSI provides mobility and security solutions to enterprise and government clients, both directly and through partnerships with global telecommunications providers such as Telefonica and Three.
Speaking to Siliconrepublic.com last year, CWSI’s founder and CEO, Ronan Murphy, said the business wants to help companies to thrive in the mobile world.
“The journey of helping companies take stock of their current mobility capabilities, implementing measures to secure and enable a smoother remote experience, and finally managing and optimising these systems over time is where we offer true value to our clients,” he said at the time.
The company entered the UK market in 2017, and the acquisition of Berkshire-based AVR will allow it to expand further in this market.
AVR, which was established in 2002, provides a complementary range of cybersecurity, mobile device management, unified endpoint management, cloud security and professional services.
The new combined entity will manage more than 500,000 customer endpoints including PCs, laptops and mobile devices globally. It will have combined forecasted revenues of €15m in 2021.
AVR’s CEO and founder, Helen Hall, said there is “an uncanny match of culture and services” between CWSI and AVR.
“We share skills, knowledge and values that place our employees and customers at the heart of everything we do. Our customers will enjoy direct access to an even wider and deeper team of highly skilled people who will provide each customer with a very proactive and tailored service based on their unique needs,” she said.
CWSI’s Murphy added: “AVR’s international customer base also allows us to build our footprint across Europe and we will accelerate this through organic growth and further strategic acquisitions.”