Fast-growing Sysec hungry for acquisitions

McAfee partner on the hunt for niche purchases after logging 28 per cent sales spike

Security VAR Sysec has put acquisitions on the agenda as it toasts an annual sales rise of more than a quarter.

The Theale-based firm saw revenue rise 28 per cent to £7.2m in the 12 months to 31 March 2014, which it attributed to its strategy of focusing on core vendors such as McAfee.

"We really got focused last year and just worked with McAfee around its Security Connected strategy," said Sysec chief executive Cris Pikes.

Acquisitions, either of McAfee partners or those with skills in niches not covered by the vendor, are also a possibility, Pikes revealed.

"We've been around for 11 years and have stockpiled cash along the way," he said.

"McAfee does everything from the perimeter to SIEM but it doesn't do remediation or cool things like cloaking," he said, citing Bit9-owned Carbon Black and BlackRidge Technology as examples of vendors in each of those two markets.

Sysec's growth was bolstered last year by McAfee's acquisition of next-generation firewall outfit StoneSoft and APT specialist ValidEdge, Pikes said.

The decision to double down on core vendors led Sysec to step back from a number of manufacturers last year, including Trustwave, Pikes added.

"This year we should do £10m to £15m," Pikes said.