Cybersecurity specialist Cygnia acquired in new dealLast updated on: May 9, 2017, Author: Editorial Team
Oldbury-based Cygnia Technologies, a cybersecurity specialist, has been acquired by a fellow technology firm in a deal part advised out of the area.
The deal sees Cygnia become a SecureData company and all its employees have transferred across to the business following the sale.
For the 2016 calendar year Cygnia reported sales of circa £9m.
Ian Brown, executive chairman at SecureData, said: “This is a very exciting transaction for us and we couldn’t be more delighted to welcome the team from Cygnia to SecureData.
“The enhanced group is now clearly positioned as one of the leading independent cybersecurity services businesses throughout the UK and selected overseas markets. With over 210 employees including 150 cybersecurity engineers, analysts and consultants the group is well positioned to provide business customers with a one stop shop service for all their cybersecurity needs.”
Jon Busfield, managing director, Cygnia, added: “The whole Cygnia team is excited to be joining SecureData. With an enhanced offering as a result of SecureData’s extensive range of professional, support and managed services this is great news for our existing customers, partners and people.”
SecureData serves public and private sector organisations throughout the UK and selected overseas markets. Its revenues are approaching £50m.
Philip Round, a corporate partner at George Green, advised Cygnia on the sale.
He said: “I am delighted to have been able to guide the shareholders of Cygnia through the sale process. This is the latest in a number of deals that we have completed in the software and IT services sector.”
Jon Busfield, founder of Cygnia, added: “The transaction is excellent news for our customers and staff, as both businesses will benefit from our pooled resources. George Green did a really good job for us and we look forward to Cygnia’s continued success as part of the SecureData group.”