Cybersecurity firm ITC Secure Networking has been acquired by tech investment firm C5 Capital Limited for £24 million.
The company, headquartered in London and established in 1995, is expected to keep its entire management team following the deal. This acquisition by C5 Capital follows from the firm, which focuses on cybersecurity, data and cloud computing sectors, invested in sensor company Metrasens and ID and access management technology provider Balabit.
The basic service they provide is to design and integrate secure cloud-based and on premise IT Network infrastructures that enhance performance, safeguard information and simplify management, thus delivering Secure Performance across devices, locations, and times. Since its inception, they have built and secured Domestic, European and Global IT Networks for organizations across the UK.
Speaking abut the deal, Tom Millar, CEO of ITC, tells that they had met other finance vehicles, but C5 as a specialist investor with deep understanding of cyber security, data and cloud computing sectors. They understood that C5 added to their business in ways that others couldn’t. He further explains,
C5 Capital bring with them a wealth of experience, insight and a powerful network. They recognised the opportunity and momentum that ITC has. I have no doubt that C5’s involvement will help accelerate this momentum. Critically, given their know-how, they quickly recognised ITC’s ability and passion for delivering our customers best in class end-to-end enterprise security solutions and services. We look forward to working with them.
As part of the deal, ITC is also set to benefit from C5 Capital’s experience in the cybersecurity, data analytics and cloud computing fields. Daniel Freeman, chief investment officer of C5 Capital, said,
We are delighted to have acquired ITC. We have been highly impressed by the company’s end-to-end security solutions and technology roadmap, as well as the trusted relationships they have built with a blue chip customer base. We are excited to partner with a great founder-led team to support the company’s next phase of growth.