Integrity360, a Dublin, Ireland-based cyber security specialist, acquired Dublin, Ireland-based PCI QSA (Payment Card Industry Qualified Security Assessor) and cyber security services company Advantio.
The terms of the transaction were not disclosed.
The acquisition will enable Integrity360 to expand further into continental Europe and provides an additional cyber services practice focused on PCI compliance – complementing its existing service practices which include cyber risk and assurance, cyber security testing, incident response, infrastructure, end- point and SIEM professional services and a highly comprehensive range of cyber security managed services.
Founded in 2009 by Marco Borza, Chief Executive Officer, Advantio provides cyber services capabilities, which include PCI compliance, cyber security testing, cyber risk and assurance and MDR services (Managed Detection and Response). The company employs approx. 115 employees in its headquarters in Dublin, Ireland, and facilities in Italy, Spain, UK, Lithuania, and Ukraine, serving more than 250 customers across Europe, the USA and Asia.
Advantio will continue to operate from its existing wide ranging European facilities but with the benefit of the full resources and capability of the existing Integrity360 business. In addition Integrity360 has formed a strategic partnership with the Advantio founders to expand the footprint of ZeroRisk an innovative SaaS platform providing compliance and cyber risk management profiling services for the payment industry. Advantio’s existing SOC (Security Operations Centre) operation in Naples will be combined with Integrity360’s other three SOC’s in Dublin, Sofia, and Stockholm – now operating with over 100 dedicated engineers, consultants and cyber experts in delivering a wide ranging set of managed services for customers including EDR, XDR and MDR (Endpoint Detection and Response, Extended Detection and Response, and Managed Detection and Response).
For the last three years, Advantio has achieved growth rates of circa 25% pa, and during the next 12 months expects revenues of circa €10m. The combination of Advantio with Integrity360 brings group revenues to approx. €115m in 2023 from circa €85m in 2022, and expands group resources to approx. 450 employees.
Led by Ian Brown, Executive Chairman, Integrity360 provides a comprehensive range of professional, support and managed cyber security services that identify and assess, protect and prevent, detect and analyse and respond and recover cyber risks and threats. Working either independently or as an extension of a organisations own team Integrity360 strengthen security postures for both mid market and enterprise organisations across a wide range of sectors including financial services, insurance, government, healthcare, retail, telecoms and utilities.
During June 2021, the company received a major strategic investment from private equity firm August Equity as part of a growth and expansion plan that will build the brand internationally. It currently operates from office locations in the UK, Ireland and Bulgaria.
FinSMEs
01/08/2023