AIM-listed Redcentric has boosted its security offering with the acquisition of Edinburgh, Scotland-based 7 Elements, a provider of security testing, incident response management and bespoke security consultancy services.
7 Elements is CREST-accredited and offers its vulnerability scanning service Clarus. It has annual revenues of around £1m, with EBITDA at about £300,000.
7 Elements will continue to operate as a stand-alone business and will continue to be led by its former owner David Stubley, who established the business in 2010. Under the terms of the acquisition, £1.95m was paid in cash on completion, with a further earn out payable in cash based on the future performance of the business over the next thirteen months. The maximum potential consideration payable is £2.4m.
Peter Brotherton, chief executive officer at Redcentric, said: “The addition of 7 Elements' services to Redcentric's existing DDOS, SIEM, managed WAF and information security consultancy services means we are now able to offer a complete portfolio to our customers. I'm looking forward to working with David and the 7 Elements team to help ensure our customers are secure.”
Last September, Redcentric acquired York-based Piksel IS for just under £10m, to gain its IT modernisation and digital transformation services, mainly focused on the AWS and Microsoft Azure public clouds.
