Accumuli chief lauds Signify buy

Fast-growing security VAR looks to organic growth after completing firm's fifth acquisition

Ambitious security specialist Accumuli is stressing business as usual after it bought two-factor authentication (2FA) specialist Signify earlier this week.

The £2.6m deal, brought over 280 customers to Accumuli in markets including telecoms, manufacturing, law and healthcare, and expanded its geographical reach across the UK, adding a Cambridge office to its existing premises in Basingstoke and Leeds.

Gavin Lyons (pictured), chief executive of Accumuli, said the firm fits a gap identified in its portfolio.

“When looking at gaps in our portfolio and how to help organisations secure remote employees, 2FA was the first thing we thought of. Signify is a market leader in the space and it has a strong brand presence. It is a solidly performing business and doubles the size of our customer base.”

Lyons said he had been in touch with customers and partners on both sides to make the transition as easy as possible, and so far it had been well received.

“Signify’s shareholders shared a vision and a mutual desire to drive the company in the right direction and we are stressing it is business as usual. The team will stay exactly the same,” he said, adding that eventually Signify will be known as "an Accumuli company".

Looking ahead, Lyons said he would not rule out further acquisitions, but the emphasis on was on organic growth. The firm recently sold assets from its DDoS subsidiary Webscreen Systems to Juniper for $10m (£6.4m).

“Overall we have made five acquisitions and one disposal so far, so the growth I am looking for is organic. Any other company we do take on would have to add significant value to our portfolio and demonstrate value and a return to shareholders. We have grown in a rapid fashion and acquisitions have to make strategic sense,” he said.