Ian Brown, executive chairman at Integrity360
Irish cybersecurity firm Integrity360 has acquired South African business Grove Group.
The value of the deal was not disclosed.
Grove Group, which is headquartered in Cape Town, provides cybersecurity and cloud services. The company, founded in 2005, recorded revenues of around €17m last year.
It has 600 customers across 51 countries and also operates a second office in London.
The acquisition is set to provide Integrity360 with another global SOC (security operations centre) location, bringing the group’s total number to five.
Other SOC locations included Dublin, Sofia, Stockholm and Naples.
Revenues at the group following the deal are set to rise to around €130m, Integrity360 reported. This is up from around €85m in 2022.
The acquisition will also bring the number of employees up to 500 across the newly expanded business.
“The enhanced group significantly expands our existing activities and cyber services across other continents including Africa and the Caribbean in addition to bolstering our existing markets throughout the UK and continental Europe,” Integrity360 chairman Ian Brown said.
“The addition of another Integrity360 regional hub in Cape Town will further enable us to serve the local needs of customers, and the SOC will add to and expand our already considerable 24/7 SOC operations,” he added.