In addition to opportunities, the digital transformation brings new threats to the public, businesses and individuals, which will increase the need for comprehensive protection in the coming years. In this context, it is not surprising that companies active in cybersecurity are joining forces.
Yesterday, Ideal Holdings announced the agreement for the acquisition of Netbull by the subsidiary of the Adacom group. The goal, as mentioned in a relevant announcement, is the creation of one of the largest providers of cyber security solutions and services in Greece and Cyprus.
This was the second major agreement announced in a few months, in the admittedly small cybersecurity sector in Greece. It was preceded, at the end of January, by the acquisition of Encode by Obrela Security, in which EOS Capital Partners and the LATSCO family office of Mrs. Marianna Latsi participate as investors.
Speaking a few days later on Capital.grthe head of Obrela, George Patsis had stated that the goal of the company is to place Greece high on the world map of cybersecurity, among the leading countries, such as Israel, Great Britain and the USA.
Ideal designs
Ideal also sets ambitious goals after the merger of Adacom and Netbull. The latter had in 2021 had revenues of 5.27 million euros, EBITDA 1.05 million euros, fund 0.2 million euros and zero debt.
As part of the cooperation between the two companies, the cybersecurity teams of Adacom and Netbull will join forces in order to further contribute to the protection of their customers from cyber attacks, while at the same time the construction of a new one (SOC – Security Operation Center) is completed through which will provide cyber security services and which is expected to be operational by the end of summer 2022.
Ideal estimates that in 2022 the two companies together will reach a turnover of 20 million euros and an EBITDA of more than 2.5 million euros. Moreover, as stated by the group’s management in the 2021 financial report in the field of Cybersecurity, the increasing risks of digital threats faced by the organizations lately are dragging the investments for protection from these threats accordingly.
The factors that are expected to further boost sales in 2022 are:
-Developments in technology, such as Cloud Computing and 5G which will require investments in Cybersecurity and the development of new services.
-The continuation of teleworking will require increased needs, while the increase of cyber attacks is expected to lead to an increase in demand for technological equipment and cyber security services.
-The major Cybersecurity projects through the Recovery Fund that are expected to be announced.
-The evolution of the Regulatory and Regulatory Framework at both National and European level (GDRP, NIS, IMO, eIDAS etc) and the relevant compliance requirements.
Read also:
Ideal acquired the cybersecurity company Netbull for 6.3 million euros
Obrela Security Industries announced the acquisition of Encode
Source: Capital
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