Integrity360 has acquired cyber security services company Advantio. The acquisition will enable Integrity360 to expand further into continental Europe, and provides an additional cyber services practice focused on PCI compliance, complementing existing managed services.
Advantio’s cyber services include PCI compliance, cyber security testing, cyber risk and assurance and MDR (Managed Detection and Response) services.
As part of the acquisition, for an undisclosed amount, Integrity360 has formed a strategic partnership with the Advantio founders to expand the footprint of their ZeroRisk offering, a SaaS platform providing compliance and cyber risk management profiling services for the payment industry.
Advantio was founded in 2009, employs around 115, is headquartered in Dublin, Ireland, and operates from facilities in Italy, Spain, the UK, Lithuania and Ukraine. It serves more than 250 customers across Europe, the US and Asia.
For the last three years, Advantio is said to have achieved growth rates of about 25%, and during the next 12 months expects revenues of around €10m. The combination of Advantio with Integrity360 will bring group revenues to approximately €115m in 2023, up from €85m in 2022. The group now employs a total of 450.
Advantio’s existing SOC (security operations centre) in Naples will be combined with Integrity360’s three SOCs in Dublin, Sofia, and Stockholm.
Ian Brown, executive chairman at Integrity360, said: “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.”
In June 2021, Integrity360 received a major strategic investment from London-based private equity firm August Equity, as part of its expansion plan.
