IT company Pixel Holdco is set to purchase Northern Irish cybersecurity firm Cyphra for an undisclosed fee.
Cyphra is the leading provider of cybersecurity solutions to large public sector organisations, private enterprises and government agencies in Northern Ireland.
Founded in 2014, Cyphra supplies, implements and supports specialist technical solutions to aid customers in mitigating risks and shielding themselves against the growth of cyber threats and attacks.
The company provides services such as Next-Generation Firewalls, Identity Federation and Access Management, Managed SIEM, Web Application Firewalls and Secure Access Services Edge.
Following the acquisition, Cyphra will continue to operate under its own brand and is aiming to drive the business to its new phase of growth as well as expanding across the UK. Paddy Trainor – managing director of Cyphra – will join the Pixel board.
Pixel chairman Tom Kelly said, “Cyphra is a strategic acquisition for Pixel as we continue to build out our portfolio of market leading IT managed services companies. We recognised that cyber security was fast becoming the major challenge for customers and having looked at the market we identified Cyphra as an ideal acquisition. Its strong leadership team, exceptional technical expertise, stellar customer base and world class technology partnerships set them apart.
“The addition of Cyphra creates a specialist managed IT services proposition with a combined £4m+ EBITDA and I’m really looking forward to working with the leadership teams to help scale and grow the business to the next level.”
Cyphra managing director Paddy Trainor added, “We are delighted to be joining Pixel as we look to accelerate our growth across the UK. This will enable us to continue our investment in our people, our partners and our customers and achieve our ambition of becoming the leading ‘pure-play’ cyber security company in the UK. Working alongside the Perfect Image team will give us the scale, resources, and capabilities to achieve this.
“Our deep technical know-how and engineering excellence have enabled us to become the go-to cyber security specialist for our customers and partners, including some of the largest of Government organisations in Northern Ireland, national Service Providers, and the world’s leading cyber vendors, including Palo Alto Networks, F5 and CyberArk. We’re excited about the future and can’t wait to continue our growth journey.”
Copyright © 2021 FinTech Global
