Déjà vu as just months after acquiring UK security company SecureData, Orange has now entered into an agreement to buy Dutch provider SecureLink.
Apparently working its way through the European security service providers in alphabetical order, Orange has entered into an agreement with current owner Investcorp to acquire 100% of SecureLink on a €515 million Enterprise Value basis.
SecureLink currently operates in eight European countries, with over 660 employees and 14 offices in Sweden, Belgium, the Netherlands, the UK, Germany, Denmark and Norway. Much of this growth has itself come via acquisitions, with purchases in recent years including UK-based Nebulas and Scandinavian-based Coresec Systems.
“With the acquisition of SecureData and SecureLink, Orange has the highest scale to anticipate and fend off attacks, as well as local defense teams in all the main European markets”Hugues Foulon, Executive Director of Cybersecurity, Orange
By absorbing SecureLink and SecureData (and of course their employees and customers) into its own cybersecurity services, Orange means to become one of Europe’s major players in cybersecurity.
“We have been very impressed by the ambition and successful development of Orange Cyberdefense over the past few years, and are very excited to build a pan-European leader of cybersecurity together,” said Thomas Fetten, SecureLink’s CEO. “Orange Cyberdefense, SecureData and SecureLink are highly complementary and share a common vision for the sector, and the combined organisation will be in a phenomenal position to address the needs of our customers, partners and employees.”
SecureLink’s senior management, including Fetten, will be joining Orange’s global leadership team and helping with the integration of the companies.
Like the SecureData acquisition earlier this year, this deal is clearly aimed at expanding Orange Cyberdefense’s presence in the European market. Already a major player in its native France, Orange has been working hard lately on growing its cybersecurity business, reporting 30% revenue growth for its cyberdefense activities in Q1 2019. The purchase of SecureData and SecureLink so close together indicate Orange is looking to continue and indeed accelerate this growth throughout Europe.
“With the acquisition of SecureData and SecureLink, Orange has the highest scale to anticipate and fend off attacks, as well as local defense teams in all the main European markets, positioning the combined organisation as the go-to defense specialist,” said Hugues Foulon, Executive Director of Cybersecurity at Orange. “I am looking forward to building the integrated organisation with Michel [Van Den Berghe, CEO of Orange Cyberdefense], Thomas Fetten and all the teams.” The transaction is expected to close in late Q2 or Q3 of this year.