Integrity360 strikes again with CyberIAM buyout
The acquisition brings around €18m in revenue
Dublin-HQ reseller Integrity360 has taken over cybersecurity identity services firm CyberIAM to expand its global footprint and cyber offering.
Founded in 2016, the acquired company operates across the UK and South Africa and has offices in Chester, London and Cape Town.
It employs around 120 staff and specialises in identity access management (IAM), identity governance and administration (IGA), privileged access management (PAM) and customer identity and access management (CIAM).
The organisation provides identity services to enterprise customers across sectors including financial services, retail, healthcare, insurance, energy, legal and public sector.
CyberIAM will form a new strategic services practice within Integrity360, led by its current CEO Michael Ribaudo.
The buyout will add approximately €18m (£15.4m) in revenue to Integrity360, taking the group’s run-rate turnover to around €230m and its headcount to approximately 900.
Integrity360 said the move comes amid increasing demand for identity services, with the proliferation of AI creating additional human and machine identities for organisations to manage and secure.
“We could not be more delighted to be welcoming Michael and the whole CyberIAM team to Integrity360,” said Ian Brown, executive chairman at Integrity360.
“We are looking forward to working closely with the team to rapidly expand their operations, capability and global reach over the coming years.”
Ribaudo added: “This is a really significant moment for us. Myself and the whole CyberIAM leadership team are really pleased that CyberIAM is joining Integrity360 to continue the growth journey we started a decade ago.
“With the backing of Ian and the considerable resources, capability, and track record of the entire Integrity360 team we are excited about what we can further achieve for our customers, and our employees, and we look forward to expanding further into international markets.”
Terms of the transaction were not disclosed.
This marks Integrity360’s second acquisition this year and fourth in the past 12 months.
In January, it entered the North American market through the buyout of Advantus360.
In December, it boosted its presence in Continental Europe with the takeover of Belgian cybersecurity services company Cresco and in South Africa with the purchase of Redshift.
This series of deals follows an investment from London-based private equity firm August Equity in 2021.
The amount of the investment was not confirmed, but industry sources put it at around €50m, according to The Irish Times.
The firm now employs approximately 900 people across 16 regional locations in the UK, Europe, Africa and Canada.