Dublin-based mobile and cloud security firm CWSI has announced a deal to buy UK company AVR International for €5.2m.
The move is expected to bring group revenue to €15m this year, with the UK accounting for two thirds of that.
The new combined entity will have over 50 employees and will securely manage more than 500,000 customer endpoints including PCs, laptops and mobile devices globally.
CWSI said the takeover would be funded through a mixture of a cashflow and debt.
Headquartered in Sandyford, CWSI provides mobility and security solutions to enterprise and government clients both directly and through partnerships with global telecommunications providers including Telefonica, Telstra and Hutchison Whampoa (Three).
Since entering the UK market in 2017, CWSI has achieved consistent organic growth of over 50% with UK revenues accounting for half of total group revenues.
Ronan Murphy, CEO of CWSI, said today is a hugely significant day for the company as it closes its first acquisition on its journey to become one of the leading European providers of cloud and mobile security solutions.
"We're thrilled that AVR has joined our group. It complements us perfectly and provides us with a seamless opportunity to scale at pace in the UK and grow a highly successful direct business alongside our growing indirect channel business, whereby we sell through some of the largest tech companies in the UK," Ronan Murphy said.
"AVR's international customer base also allows us to build our footprint across Europe and we will accelerate this through organic growth and further strategic acquisitions," he added.
