Northern Ireland’s cybersecurity specialist Cyphra Ltd has been snapped up by Pixel to address the growing security needs of firms in the UK.
The deal, terms of which were not disclosed, enables Cyphra, which will continue to operate under its own brand, to sit alongside previously acquired Perfect Image to expand the Group's portfolio of specialist IT services.
"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,"said Paddy Trainor, managing director of Cyphra.
"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 for the future and can't wait to continue our growth journey,” he added.
The acquisition is said to create several opportunities for both Cyphra and Perfect Image as they seek to leverage the synergies that exist to accelerate growth and drive new and incremental revenue opportunities within their respective client bases.
Cyphra will also be able to utilise the resources and infrastructure provided by the cloud services provider to scale and reach new markets, while Perfect Image will leverage Cyphra's specialist cyber security proposition to drive new customer acquisitions as well as incremental business with existing clients.
"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,” said Tom Kelly, chairman of Pixel.
"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," he added.