Integrity360 acquires fellow Irish cybersecurity provider Advantio
Dublin-headquartered Advantio has been acquired by Integrity360 to expand its European footprint
As part of its Pan-European expansion plan, Integrity360 has acquired Irish payment card industry qualified security assessor (PCI QSA) and cybersecurity services reseller Advantio.
The acquisition will enable Irish MSSP Integrity360 to expand further into continental Europe and provides an additional cyber services practice focused on PCI compliance.
The MSSP hopes this acquisition will complement its existing service practices which include cyber risk and assurance, cybersecurity testing, incident response, infrastructure, end-point and SIEM professional services and a range of cybersecurity managed services.
Advantio will continue to operate from its existing European facilities but with access to resources and capability of the existing Integrity360 business.
In addition, Integrity360 has formed a strategic partnership with the Advantio founders to expand the footprint of ZeroRisk a SaaS platform providing compliance and cyber risk management profiling services for the payment industry.
Advantio was founded in 2009, employs approximately 115 employees and operates from facilities in Italy, Spain, UK, Lithuania, and Ukraine serving more than 250 customers across Europe, the USA and Asia.
For the last three years, Advantio has achieved growth rates of circa 25 per cent pa, and during the next 12 months expects revenues of circa €10m (£8.56m).
The combination of Advantio with Integrity360 brings group revenues to approximately €115m (£98.40m) in 2023 from circa €85m (£72.73m) in 2022, and expands group resources to approximately 450 employees.
The terms of the transaction were not disclosed.
This is the MSSP's latest acquisition this year. Earlier in May 2023, the firm announced it was buying the Swedish cybersecurity service provider Netsecure as part of its expansion plans.
Ian Brown, executive chairman at Integrity360 commented: "We are delighted to be welcoming the Advantio team to Integrity360.
"The enhanced group will now significantly expand our existing activities and cyber services throughout continental Europe, and further develop Advantio's considerable expertise in PCI compliance.
"The combination of the two businesses provides a powerhouse of technical cyber and security payments expertise for the group's customer base including preparing for the impending arrival of the new PCI DSS 4.0 standard which requires comprehensive threat detection and incident response services.
"The two companies are highly complementary, with common strengths in cyber assurance , cybersecurity testing and managed detection and response and share the same customer service ethos.
"We look forward to delivering our expanded and extensive range of services for the benefit of our combined customers over the coming weeks and months."
Marco Borza, founder and CEO of Advantio also commented: "I am delighted that Advantio is joining Integrity360 and continuing the growth journey that we started some 14 years ago.
"Thanks to the support of our customers and employees Advantio has become a leading QSA and provider of cyber services across Europe and other overseas markets.
"Advantio is excited to continue that journey but also with Integrity360's support, allowing us to expand our services and market coverage.
"Our skills combined with those of Integrity360 will provide an extension of our portfolio of professional, support and managed services.
"This is great news for employees, customers, and partners.
"I am also delighted that we are forming a strategic partnership with the wider Integrity360 group to expand ZeroRisk's merchant management platform, currently enabling merchants and merchant service providers to measure risk and manage compliance.
"I look forward to working closely with Ian and the wider Integrity360 team over the coming years."