Cyber security firm Integrity360 has bought Sweden's Netsecure for an undisclosed sum.
Integrity360 said today's deal will enable it to expand into the Nordic region, with Netsecure serving as its platform there.
Netsecure was founded in 2015, employs about 40 people and is headquartered in Stockholm in Sweden.
For the last four years, Netsecure has achieved growth rates of over 35% a year and during 2023 expects sales of about €10m.
Meanwhile, the Integrity360 group saw order growth of about 30% and sales of roughly €85m for 2022.
After today's deal all of Netsecure's employees will remain with the group, bringing the headcount of Integrity360 group to about 360.
Combined with Netsecure, the enhanced group expects sales of about €110m during 2023 and, in addition to Netsecure, expects to complete further acquisitions as part of its European expansion plan during the year.
Ian Brown, Executive Chairman at Integrity360, said the deal for Netsecure was a significant and exciting milestone for the company.
"The enhanced group will now significantly expand our activities and services throughout the Nordic region, in addition to continuing our growth as the leading independent cyber security services specialist throughout the UK and Ireland," he said.
"2023 will also see the group expand into other major geographic markets," he added.
Jan Lindblom, founder and Managing Director of Netsecure, said he was delighted that Netsecure is joining Integrity360 and continuing the growth journey that it started some eight years ago.
"Thanks to the support of our customers and employees Netsecure has become a well-respected cyber services provider within Sweden. We are excited to continue that journey but also with Integrity360's support, allowing us to expand and cover additional markets within the Nordics," he added.
