Newcastle's Pixel acquires Northern Irish cyber security specialist
Pixel, the parent company of cloud services provider Perfect Image, has acquired Cyphra Ltd, Northern Ireland's leading provider of cyber security solutions.
Cyphra, which will continue under its existing brand, will sit alongside Perfect Image to create a specialist IT services proposition combining Cyphra's cyber security solutions with Perfect Image's portfolio of cloud infrastructure, managed services and data analytics.
The Belfast company was founded in 2014 and supplies, implements and supports technical solutions to help customers mitigate risk and protect themselves against the growth in cyber threats. It also has an office in Glasgow.
Cyphra will draw on the resources and infrastructure provided by the cloud services provider in order to scale and reach new markets, while Perfect Image will leverage the specialist cyber proposition to drive new customer acquisitions as well as incremental business with existing clients.
Commenting on the acquisition, Tom Kelly, Chairman of Pixel, said: "Cyphra is a strategic acquisition for Pixel as we continue to build out our portfolio of market leading IT managed services companies. We recognised that cyber security was fast becoming the major challenge for customers and having looked at the market we identified Cyphra as an ideal acquisition.
"The addition of Cyphra creates a specialist managed IT services proposition with a combined £4m+ EBITDA and I'm really looking forward to working with the leadership teams to help scale and grow the business to the next level."
Paddy Trainor, Managing Director of Cyphra, added: "We are delighted to be joining Pixel as we look to accelerate our growth across the UK. This will enable us to continue our investment in our people, our partners and our customers and achieve our ambition of becoming the leading 'pure-play' cyber security company in the UK. Working alongside the Perfect Image team will give us the scale, resources, and capabilities to achieve this."
"This is a fantastic acquisition and we look forward to working closely alongside Cyphra to drive mutual growth", said Chris Shields, Sales and Marketing Director at Perfect Image. "With data now becoming mission critical for every organisation - large or small, public or private - effective cyber security is a must-have. Working alongside Cyphra we have even greater capability to take to our existing customers as well as driving new customer opportunities and growth."