Exclusive Networks has snapped up cybersecurity VAD Ingecom.
The deal will help Ignition Technology’s expansion in Southern Europe, which Exclusive bought July 2021.
The outfit said the additional development of Ignition will create further value for Exclusive by strengthening its dual offering to established and emerging innovative vendors.
Exclusive Networks CEO, Jesper Trolle said: “We are excited to welcome Ingecom’s talented and passionate teams into the Exclusive Networks Group within the Ignition organisation.”
“This acquisition is fully in line with our plans to strengthen further our portfolio of emerging cybersecurity innovators and stand as the partner of reference for emerging vendor technologies within EMEA.
“Ingecom’s management will remain invested in the future growth of the company and be associated to our common success. We look forward to developing synergies together to achieve Ignition’s growth ambitions.”
Ingecom, a Spanish value-added distributor, specialises in cybersecurity and cyber intelligence solutions for emerging technologies.
The newly acquired group has a headcount of 50 and a network of more than 500 partners.
It operates in Spain, Portugal and Italy and generated revenue of €38 million in 2022 with profitability comparable to that of Exclusive Networks.
Under the deal, Exclusive will acquire 70 per cent of Ingecom, while the remaining stake will be held by the current managers.
Javier Modubar, CEO of Ingecom added: “Joining the Ignition family within Exclusive Networks Group was a natural choice for Ingecom given the strong complementarities and cultural fit.
“While pursuing our activity, this collaboration will allow Ingecom solutions to benefit from Ignition’s and Exclusive Networks incontestable expertise and significantly increase our footprint to reach our aspiring growth plan.”
The closing of the transaction is expected to be finalised before the end of the year.
