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Integrity360 has announced its acquisition of cyber security company Adsigo, which will enable the firm to expand into Germany, Austria, and Switzerland.
Established in 2013, Adsigo is known for its PCI QSA (Payment Card Industry Qualified Security Assessor) services and has been providing consultancy to financial, industrial, and service organisations across the DACH region. It operates out of Stuttgart, Hamburg, and Zurich and is one of the prominent QSA organisations in Europe, having completed over 1,500 assessments.
The acquisition is a strategic move for Integrity360 to bolster its presence in continental Europe. While the financial particulars of the deal were not disclosed, the acquisition promises to enhance Integrity360's capabilities in PCI compliance and cyber security frameworks, including ISO27001 and third-party risk management.
Integrity360 plans to invest further in Adsigo. The investment includes establishing a new Security Operations Centre (SOC) in Germany, adding to Integrity360's current SOCs in Dublin, Stockholm, Naples, and Sofia, and employing approximately 130 people. The SOC teams will continue to deliver services such as Endpoint Detection and Response (EDR), Extended Detection and Response (XDR), and Managed Detection and Response (MDR).
Ian Brown, Executive Chairman of Integrity360, stated, "We are delighted to be welcoming the team from Adsigo to Integrity360. We have known Ralph and Stephan for some time and both organisations share the same passion for technical excellence and customer service as we do. 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. With the addition of Adsigo, group revenues in 2024 will exceed EUR 135m significantly up on 2023, and group resources to approx. 550 employees."
Ralph Woern, Founder and Chief Executive Officer of Adsigo, expressed his enthusiasm for the acquisition saying, "I am really delighted that Adsigo is joining Integrity360 and continuing the journey that we started some 20 years ago. Thanks to the support of our customers and employees, 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. This is great news for employees, customers, and partners. I look forward to working closely with Ian and the wider Integrity360 team over the coming years."
