Cognosec buys South African distributor Intact for ZAR 3.8 mln
27 October 2017
Swedish cyber-security company Cognosec has completed the acquisition of 100 percent of the shares in South Africa-based distributor Intact Software Distribution for EUR 506,000, reports ITWeb. Cognosec has operations in Europe, Africa and the Middle East. It says the acquisition is in line with its strategy to expand business areas to cover the sale and distribution of software technologies over the internet.
The transaction has been completed by Cognosec and will be injected into subsidiary, Credence Security. Intact is a digital software distribution business, specialising in providing cyber-services from tier-one vendors. The distributor has a range of security products, including Avira, Avast, AVG, Bitdefender, Cybonet, F-Secure, Group-IB and Veriato. The company also has its own penetration testing division to help organisations mitigate any potential risks.
According to Cognosec, the Intact business is well-established and EBITDA-positive, recording revenue of over EUR 506 000 and EBITDA of EUR 18 000 in the full financial year 2016, and revenue of over EUR 745 000 and EBITDA of over EUR 38 000 in the full financial year 2017. It points out the acquisition of Intact improves Cognosec's competitive advantage for both vendors and customers alike.
This addition also expands Credence Security's product portfolio to incorporate cyber security solutions for secure operation centres; network operation centres; security information and event management; data centres; mobile platforms; virtualised environments; as well as providing critical fraud prevention solutions to the technology, media, telecommunications, financial and also its burgeoning public sector business.