Integrity360 buys UK IT firm Metadigm
Cybersecurity firm Integrity360 has purchased UK IT security specialist Metadigm for an undisclosed sum, as the firm expands its presence in the UK.
Metadigm, which has been operating for more than 20 years, has an expected turnover of £3m (€3.4m) for 2017.
Integrity360 said the acquisition would help deliver enhanced industry knowledge and expertise to customers and will also add to its UK-based offices in London and Birmingham.
"It's fantastic to be integrating Metadigm's expertise into our overall business, reinforcing our growth strategy and introducing a further skill set to our clients in Ireland," said Integrity360 CEO Eoin Goulding.
The company employs 175 people at its Dublin headquarters, and is in the process of hiring a further 150 staff.
Last year the firm reported year-on-year growth of 53pc, while its revenue increased by €13m to €34m. Profit for the year-end 2016 was €2m, a massive increase from its profit of €800,000 in 2015.
Revenues to date have largely come from the Irish market, which accounted for €27m of the €34m in revenue in 2016. Revenue from markets outside of Ireland amounted to 20pc for 2016.
Founded in 2005, Integrity360 works with more than 300 companies providing managed cybersecurity, incident-handling, cyber risk and assurance, and cybersecurity integration in order to secure clients' information, networks and infrastructure.
Clients are predominantly large blue-chips in sectors as diverse as telecoms, ecommerce, finance, retail, and government services.
Along with its offices in Ireland and the UK the company also has a US office.
This year the firm added to its leadership team bringing in Padraig Carley as its CFO and promoting Eric Barkman to COO.