Cybersecurity firm Integrity360 has announced a deal to buy Nclose, a cybersecurity services company operating out of both Cape Town and Johannesburg in South Africa, for an undisclosed sum.
Today's acquisition comes on the back of the previously announced acquisition of Cape Town headquartered Grove Group last August.
After the deal with Nclose, Integrity360 will have over 180 employees in South Africa.
With the addition of Integrity360's new Security Operations Centre (SOC) in Madrid, which is due to come on line during the first quarter of 2025, the group will operate across six SOC locations, enabling the group to provide an ever-expanding multi lingual 24/7 capability for its comprehensive suite of managed services.
Founded in 2006, Nclose will add about 150 customers, about €18m to group revenues and about 125 employees to Integrity360, which will bringing the group's global revenues to more than €150m as it operates with a team of about 675 dedicated cyber security professionals.
Ian Brown, Executive Chairman at Integrity360, said the company was very excited to welcome the Nclose team.
"The journey they have been on since their formation in 2006 is highly impressive and we are looking forward to helping them provide an enhanced set of services to their customers and expanding further in the wider South African market during 2025 and beyond," he said.
Stephen Osler and Martin Potgieter, founders and directors of Nclose, said today's deal was a a momentous milestone for them.
"Thanks to the support of our customers, partners and employees, Nclose has grown and flourished during that time, and having spent considerable time with Ian and the wider Integrity360 leadership team, we are confident will continue to do so being part of the Integrity360 group," they said.
