Sonae IM and S21sec strengthen their position in the European cybersecurity market through the acquisition of SysValue.
The acquisition means that Sonae Investment Management (IM) now holds the leading position in Portugal, as the largest pure play cybersecurity entity, and is able to leverage significant synergies between Grupo S21sec Gestión and SysValue.
Sonae Investment Management (IM) has today confirmed its acquisition of SysValue, a cybersecurity services company with key strengths in Auditing, Consulting, Integration, Training and R&D, and a distinctive presence in the Telecom, Financial Services, Energy and Government sectors.
This acquisition, following the Grupo S21sec, transaction in September of 2014, is yet another important milestone in the execution of Sonae IM´s European cybersecurity market leadership and international expansion strategy. More specifically, the company now establishes itself as the clear pure play leader in the Portuguese market.
According to Carlos Alberto Silva, Board Member at Sonae IM, “We are proud of this latest development to strengthen our cybersecurity portfolio, as we believe there is a clear market opportunity for a focused player that has the added benefit of scale. SysValue represents a significant asset to us in Portugal and also at a wider regional level. We will continue seeking organic and inorganic growth opportunities.”
João Barreto, Founder and Chairman of the Board of SysValue, echoes these sentiments, “Becoming part of Sonae IM’s cybersecurity strategy is the result of 14 years of dedication to information security and teaming up with S21sec is an opportunity to elevate the delivery of cybersecurity services to unparalleled levels of expertise and sophistication. A broader service offering, the go-to-market of SysValue’s R&D initiatives and the delivery of services internationally will be immediate benefits stemming from this deal.”
The integration of SysValue into Sonae IM´s portfolio will also allow the extraction of significant synergies involving the pooling of knowledge and expertise in Technical Delivery and R&D resources, establishment of common back-office structures, alignment of go-to-market strategies, consolidation of positions in key accounts and plenty of cross-selling opportunities.
When thinking about the synergies, Pedro Leite, Chief Delivery Officer and VP Portugal at S21sec, says, “With the acquisition of SysValue, we strengthen our position in the Portuguese market with a team of highly specialized and experienced cybersecurity professionals. As the country´s market leader, we want to contribute to the development of the cybersecurity sector in Portugal and we believe that we have the right team to make it happen.”
Sonae IM will be able to further leverage its portfolio companies´ Government sector relationships and activities to reinforce its proactive EU strategy to strengthen the region´s robustness and preparedness when facing cybersecurity incidents. Through S21sec, Sonae IM has the Presidency of the European Cybersecurity Group (ESCG), an alliance of 5 leading European pure play companies.