Managed cybersecurity services provider Caretower will become an Integrity360 company, with the group expecting combined revenue of €85m in 2022.
Ireland-headquartered cybersecurity company Integrity360 has acquired fellow cybersecurity player Caretower, which has operations in the UK and Bulgaria.
Integrity360 already has bases in the UK as well as Dublin and New York. It snapped up Caretower as part of its expansion plans for an undisclosed sum.
Managed cybersecurity services provider Caretower will become an Integrity360 company under the terms of the deal, with all its employees remaining in their positions.
Last June, Integrity360 received a major strategic investment from London-based private equity firm August Equity as part of a growth and expansion plan that aims to build its brand internationally. It went on a hiring spree across Ireland and the UK following the funding boost.
Founded in 2005, the company offers end-to-end cybersecurity services to enterprise clients from a range of sectors. These include managed security, cybersecurity testing, incident response, security integration and cyber risk and assurance services.
Ian Brown, executive chairperson at Integrity360, said the combined group would be clearly positioned as a “leading independent cybersecurity services specialist throughout the UK and Ireland”.
“In a world where security threats to businesses are increasing daily, having a trusted cybersecurity partner has become a critical boardroom issue. Already providing services to over 1,500 customers, the combination of Integrity360 and Caretower positions the group well to provide that partnership for both private and public sector organisations.”
Once merged, the business expects its revenues to exceed €85m in 2022. The group will have 300 employees on its books, including 200 cybersecurity engineers, analysts, consultants and specialists.
Phydos Neophytou, Caretower’s managing director, said he would continue to offer his support in a senior management role within the enlarged business, adding that he was delighted to continue his company’s “growth journey”.
“Our skills combined with those of Integrity360 will provide a further extension of our professional, support and managed services. This is great news for employees, customers and partners. Our two companies are highly complementary, with common strengths in cyber infrastructure, endpoint and SIEM technologies.
“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,” he concluded.
This isn’t Integrity360’s first acquisition in the UK. In 2017, it snapped up IT security specialist Metadigm.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.