Cybersecurity firm Integrity360 has announced a deal to buy European payment card industry and cybersecurity services company Adsigo for an undisclosed sum.
Integrity360 said the acquisition will enable it to expand further into continental Europe and will provide additional skilled resources to its existing substantial payment card industry (PCI) and cyber security compliance teams.
Founded in 2013, Adsigo serves customers in Germany, Austria and Switzerland, operating out of Stuttgart, Hamburg and Zurich from which it provides services to a wide range of financial, industrial, and services organisations.
Integrity360 said it will invest further in Adsigo to become a regional hub for the full suite of its services next year, including the addition of a new security operations centre (SOC), based in Germany, which will be combined with the existing 130 people Integrity360 SOC resources based out of Dublin, Stockholm, Naples and Sofia.
Ian Brown, Executive Chairman at Integrity360, said that Adsigo shares the same passion for technical excellence and customer service as it does.
"The enhanced group will now significantly expand our existing activities and cyber services across the DACH region (Germany, Austria and Switzerland) as well as offering the wider range of Integrity360 services to the existing customers of Adsigo," he said.
"With the addition of Adsigo, group revenues in 2024 will exceed €135m significantly up on 2023, and group resources to about 550 employees," he added.
Ralph Woern, founder and CEO of Adsigo, said that Adsigo has become a leading QSA and provider of cyber services in Germany, Austria and Switzerland.
"Adsigo is excited to continue that journey but also with Integrity360's support, allowing us to further expand our team, our services, and our market coverage. Our skills, combined with those of Integrity360, will provide an extension of our portfolio of professional, support and managed services," he added.
