QBS Technology Group acquires security VAD AlphaGen to close in on £100m revenue

Acquisition follows deal for Zedsphere last year

QBS Technology Group has acquired 4Sec Group, the parent company of security VAD AlphaGen.

The move continues an M&A strategy for QBS that started when the business was bought by Dave Stevinson (pictured) in 2018.

Stevinson told CRN: "Our company is looking to grow quickly and we've got the maximum chance of getting the scale we want if we blend organic growth with acquisitions.

"We're highly focused on enterprise software, so a company like AlphaGen, which is incredibly fast growing with a focus on security and value-add, complements everything that we have already."

QBS reported sales of £64m last year, with Stevinson saying that the firm is on track to hit £100m this year.

The acquisition follows its deal for Zedsphere, with the firm also taking steps into the Baltics and France last year.

AlphaGen reported sales of £9.6m during the year ending 31 March 2019, with vendors including Thycotic, Snow Software and Hitachi.

4Sec has itself completed acquisitions over recent years, led by managing director Grahame Smee. The group acquired AlphaGen in 2017 and moved into the French market with its acquisition of Metro later that year.

Smee - who ran Cohort before selling it to Exertis in 2013 - will join QBS as chief revenue officer. AlphaGen will continue to trade under its own name.

Smee said: "We see immense synergies and opportunities for our customers, vendors and employees in joining the QBS group.

"By leveraging the complementary strengths of each company we can only add further value to what is a compelling proposition for all our stakeholders.

"We look forward to working with the QBS management teams and building on the success of both companies."