Redcentric acquires an IT security consulting firm | Yorkshire Deals News
Redcentric, a publicly traded IT services provider, has acquired a provider of security testing, incident response management and consulting services.
7 Elements works with its customers to assess security threats, identify weaknesses and provide tailored support.
The company, which operates in Edinburgh and Leicester, has annualized sales of around £1m and EBITDA of around £300,000.
After the acquisition, it will continue to operate as a standalone business and will be run by its former owner, David Stubley, who established the company in 2010.
Redcentric paid an initial consideration of £1.95 million in cash upon completion, with an additional gain of up to £2.4 million payable based on the future performance of the business over the next 13 months.
The agreement will provide Harrogate-based Redcentric with additional capabilities in the security market.
Managing Director Peter Brotherton said: “I am delighted to welcome 7 Elements to the Redcentric family. Adding its services to Redcentric’s existing DDOS, SIEM, Managed WAF and Information Security Consulting services means we are now able to offer a full portfolio of security services to our customers.
“I very much look forward to working with David and the team at 7 Elements to help keep our customers safe.”
Redcentric is advised by finnCap (Named Advisor and Broker).